Vedanta rises on incorporating wholly owned subsidiary
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The scrip is currently trading at Rs. 228.75, up by 2.60 points or 1.11% from its previous closing of Rs. 226.15 on the BSE.
The scrip opened at Rs. 225.25 and has touched a high and low of Rs. 229.35 and Rs. 224.85 respectively. So far 151037 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 340.75 on 20-Jan-2023 and a 52 week low of Rs. 207.85 on 28-Sep-2023.
Last one week high and low of the scrip stood at Rs. 229.90 and Rs. 217.20 respectively. The current market cap of the company is Rs. 84083.04 crore.
The promoters holding in the company stood at 68.11%, while Institutions and Non-Institutions held 17.53% and 14.36% respectively.
Vedanta has incorporated wholly owned subsidiary (WOS) company namely ‘Vedanta Iron And Steel’ on October 10, 2023 for the purpose of implementation of demerger scheme. Vedanta Iron and Steel is a public company incorporated under the provisions of the Companies Act, 2013, with its registered office in the State of Maharashtra. Its main object is to carry out the Iron and Steel business.
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.
