Vedanta surges on partnering with Union Bank to take over majority of syndicated facility
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Vedanta is currently trading at Rs. 326.30, up by 4.70 points or 1.46% from its previous closing of Rs. 321.60 on the BSE.
The scrip opened at Rs. 322.90 and has touched a high and low of Rs. 326.55 and Rs. 322.10 respectively. So far 93214 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 385.75 on 19-Oct-2021 and a 52 week low of Rs. 161.45 on 01-Feb-2021.
Last one week high and low of the scrip stood at Rs. 335.75 and Rs. 311.95 respectively. The current market cap of the company is Rs. 120325.73 crore.
The promoters holding in the company stood at 69.69%, while Institutions and Non-Institutions held 19.51% and 9.36% respectively.
Vedanta has tied up a facility of Rs 8,000 crore with Union Bank of India to take over a majority of the syndicated facility after multiple discussions with potential lenders.
The replacement facility was availed to take over the existing Syndicated facility to reduce the overall interest cost of the company in the normal course of business and to align the debt with market benchmarks. The company continues to explore all options to increase its debt maturity profile and reduce its interest cost.
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.
