Shares of billionaire Anil Agarwal-led Vedanta Ltd – rose as much as 7.74 per cent to hit a high of Rs 354 on the back of heavy trading volume. BSE data shows that as of 11:19 am on the BSE, 4.33 crore shares changed hands in Vedanta, compared to an average of 14.13 lakh shares held daily in the last two weeks. Vedanta’s promoters – Twin Star Holdings and Vedanta Netherlands Investments BV – are looking to buy 17 crore equity shares of the company at a nominal price of Rs 350 per share, valued at Rs 5,950 crore, newspaper Business Standard reported on Monday.
Over 26.87 crore Vedanta shares were traded on the National Stock Exchange till 11:22 am.
Vedanta’s stock has risen 139 per cent so far this year to reach a 52-week high of Rs 385 on October 19.
Vedanta Limited is a globally diversified natural resource company with interests in zinc-lead-silver, iron ore, steel, copper, aluminum, power, oil and gas.
As of 11:26 am, Vedanta shares were trading 4.36 per cent higher at Rs 342.65, down 0.2 per cent from Nifty.
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