Decision on Cairn-Vedanta deal today; stock up
A ministerial panel is likely to decide on Friday if the government should approve Cairn Energy's sale of stake in its Indian unit to mining group Vedanta Resources with conditions or without any precondition.
By PTI | Updated:
NEW DELHI: A ministerial panel is likely to decide on Friday if the government should approve Cairn Energy's sale of stake in its Indian unit to mining group Vedanta Resources with conditions or without any precondition.
The Group of Ministers (GoM) headed by Finance Minister Pranab Mukherjee is scheduled to hold its first meeting on May 27, an official said on Thursday.
The Cabinet Committee on Economic Affairs (CCEA) had on April 6 asked the GoM to vet the $9.6 billion deal, but the panel has not held a single meeting in seven weeks since then.
At 10:14 am, shares of Cairn India were trading 0.76 per cent up at Rs 345.45 on the Bombay Stock Exchange.
The Group of Ministers (GoM) headed by Finance Minister Pranab Mukherjee is scheduled to hold its first meeting on May 27, an official said on Thursday.
The Cabinet Committee on Economic Affairs (CCEA) had on April 6 asked the GoM to vet the $9.6 billion deal, but the panel has not held a single meeting in seven weeks since then.
At 10:14 am, shares of Cairn India were trading 0.76 per cent up at Rs 345.45 on the Bombay Stock Exchange.
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