Cairn India rises to 52-week high on Vedanta deal
Shares of Cairn India today jumped over 3 per cent to hit a 52-week high on BSEamid reports of its takeover by Vedanta Resources.
By PTI |
MUMBAI: Shares of Cairn India today jumped over 3 per cent to hit a 52-week high on the Bombay Stock Exchange amid reports of its takeover by Vedanta Resources, which is likely to announce its buyout of a controlling stake in the oil explorer today.
Cairn India jumped 3.53 per cent to touch a year high of Rs 368 on BSE.
On the National Stock Exchange, the stock was trading at Rs 359.25, up 1.07 per cent. In terms of volume, a total of over 52 lakh shares of the company changed hands on the bourses, amid a flat market.
Edinburgh-based Cairn Energy is selling the majority of its 62.37 per cent stake in Cairn India to Vedanta. But the deal is contingent upon the government approval.
The BSE oil and gas index was also trading higher by 22.11 points at 10,159.78 at 10:34 hrs.
Meanwhile, the broader market Sensex was flat down by 5.87 points at 18,161.16.
Cairn India jumped 3.53 per cent to touch a year high of Rs 368 on BSE.
On the National Stock Exchange, the stock was trading at Rs 359.25, up 1.07 per cent. In terms of volume, a total of over 52 lakh shares of the company changed hands on the bourses, amid a flat market.
Edinburgh-based Cairn Energy is selling the majority of its 62.37 per cent stake in Cairn India to Vedanta. But the deal is contingent upon the government approval.
The BSE oil and gas index was also trading higher by 22.11 points at 10,159.78 at 10:34 hrs.
Meanwhile, the broader market Sensex was flat down by 5.87 points at 18,161.16.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
Trapped: From Lucknow to Delhi and Jaipur, the deadly pattern behind India's summer blazesADVERTISEMENT
