 "Cairn India, Vedanta trade firm as board approves merger")
Shares of Cairn India and Vedanta were trading firm on the bourses after Vedanta, Cairn India and Vedanta Resources plc together with its subsidiaries on 14 June 2015, announced a merger between Vedanta and Cairn India.
At 1002 hours, Cairn India was up nearly 2% at Rs 184 on the BSE. The stock hit a high of Rs 187 and a low of Rs 176 so far.
Shares of Vedanta were trading flat at Rs 185 after hitting high of Rs 189 on the BSE. The stock hit a low of Rs 182.
Cairn India shareholder would be offered an equity share of Vedanta Ltd, besides a 7.5% redeemable preference share of Rs 10 face value.
Meanwhile, thus far in 2015, the stock of Cairn India has dipped 25% and of Vedanta by 14% as compared to 4% decline in the benchmark S&P BSE Sensex till yesterday.
At 1002 hours, Cairn India was up nearly 2% at Rs 184 on the BSE. The stock hit a high of Rs 187 and a low of Rs 176 so far.
Shares of Vedanta were trading flat at Rs 185 after hitting high of Rs 189 on the BSE. The stock hit a low of Rs 182.
Cairn India shareholder would be offered an equity share of Vedanta Ltd, besides a 7.5% redeemable preference share of Rs 10 face value.
Meanwhile, thus far in 2015, the stock of Cairn India has dipped 25% and of Vedanta by 14% as compared to 4% decline in the benchmark S&P BSE Sensex till yesterday.