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Vedanta surges on receiving petroleum exploration licenses in Arunachal Pradesh

19 Feb 2020 Evaluate

Vedanta is currently trading at Rs. 142.60, up by 2.00 points or 1.42% from its previous closing of Rs. 140.60 on the BSE.

The scrip opened at Rs. 142.75 and has touched a high and low of Rs. 142.85 and Rs. 141.60 respectively. So far 52232 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 195.00 on 08-Apr-2019 and a 52 week low of Rs. 125.70 on 22-Aug-2019.

Last one week high and low of the scrip stood at Rs. 143.85 and Rs. 137.55 respectively. The current market cap of the company is Rs. 52821.33 crore.

The promoters holding in the company stood at 50.14%, while Institutions and Non-Institutions held 35.02% and 10.54% respectively.

Arunachal Pradesh Chief Minister Pema Khandu has handed over the Petroleum Exploration Licenses (PEL) to Vedanta for exploration of hydrocarbon resources in three exploration blocks in the state.

The three blocks are spread across 74.4 sq km of area in the districts of Changlang, Tirap and West Siang. The grant of licenses for the blocks would lead to an increase in the exploration activities in the hydrocarbon sector in Arunachal Pradesh.

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 975.05
Vedanta 260.20
Hindustan Zinc 570.00
Jain Resource Recycl 281.95
CMR Green Tech 216.25
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