Cairn India hits 52-week high; Vedanta up 4% as merger become effective

Vedanta and Cairn India were up 3% and 2%, respectively, against 0.56% fall in Sensex at 11:06 am

Vedanta gained 4% to Rs 263, while Cairn India hit a 52-week high of Rs 313, up 3% on BSE in intra-day trade after both the companies on Tuesday announced that that the merger of Cairn India with Vedanta pursuant to the scheme of arrangement has become effective.

This merger consolidates Vedanta’s position as one of the world’s largest diversified natural resources companies, with world-class, low-cost assets in metals & mining and oil & gas.

“Thursday 27 April, 2017 has been fixed as the record date for determining the list of the shareholders of Cairn India to whom