Vedanta surges on signing MoU for value-creation from bauxite residue
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Vedanta is currently trading at Rs. 214.20, up by 1.30 points or 0.61% from its previous closing of Rs. 212.90 on the BSE.
The scrip opened at Rs. 212.25 and has touched a high and low of Rs. 214.65 and Rs. 212.25 respectively. So far 17172 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 244.90 on 08-Apr-2021 and a 52 week low of Rs. 73.40 on 22-Apr-2020.
Last one week high and low of the scrip stood at Rs. 244.90 and Rs. 209.80 respectively. The current market cap of the company is Rs. 79139.07 crore.
The promoters holding in the company stood at 55.11%, while Institutions and Non-Institutions held 29.26% and 11.41% respectively.
Vedanta has signed a memorandum of understanding (MoU) for value-creation from bauxite residue (red mud), which is a by-product generated during processing of bauxite into alumina using the Bayer process.
Bauxite is the primary ore for aluminium that undergoes an intermediate refining stage to produce alumina, which then undergoes electrolysis for producing aluminium. Abundantly available on the Earth's crust, mining of bauxite is one of the most inherently sustainable mining processes.
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.
