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Cairn Energy Plc’s stake in Vedanta slips after I-T Department sells shares

13 Mar 2019 Evaluate

Cairn Energy Plc’s holding in Vedanta has decreased to 0.1% after the Income-Tax Department sold 4.9% stake in the company to recover a retrospective tax demand. The Income-Tax Department realised Rs 5,000 crore from selling the shares.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.

Peers
Company Name CMP
Hindalco Industries 944.40
Vedanta 259.65
Hindustan Zinc 554.30
Jain Resource Recycl 282.30
CMR Green Tech 220.30
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