Vedanta declined 0.45% to Rs 166.70 at 11:00 IST on BSE after the company notified transfer of 4.98% shareholding in Cairn India to Vedanta from Twinstar Mauritius Holdings, a wholly owned subsidiary of Vedanta.
The announcement was made during trading hours today, 4 June 2015.
Shares of Cairn India declined 0.35% to Rs 185.55.
Meanwhile, the BSE Sensex was down 24.06 points, or 0.09%, to 26,813.14.
On BSE, so far 66,133 shares were traded in the counter, compared with an average volume of 5.39 lakh shares in the past one quarter.
The stock hit a high of Rs 191.50 and a low of Rs 185.05 so far during the day. The stock hit a 52-week high of Rs 318.40 on 6 June 2014. The stock hit a 52-week low of Rs 183.75 on 27 March 2015.
The stock had underperformed the market over the past one month till 3 June 2015, falling 10.69% compared with 0.64% decline in the Sensex. The scrip had also underperformed the market in past one quarter, declining 15.33% as against Sensex's 9.31% fall.
The large-cap company has an equity capital of Rs 296.47 crore. Face value per share is Re 1.
Vedanta has notified transfer of 4.98% shareholding in Cairn India to Vedanta from Twinstar Mauritius Holdings, a wholly owned subsidiary of Vedanta. Vedanta has entered into an agreement with a wholly owned subsidiary, Twinstar Mauritius Holdings (TSMHL), whereby TSMHL has transferred 4.98% of its stake in Cairn India to Vedanta for a cash consideration of $315 million. The funds received by TSMHL will be used to service existing debt obligations at TSMHL. Vedanta's ownership in Cairn India does not change as a result of this share transfer.
Twin Star Mauritius Holdings held 39.41% stake in Cairn India as at 31 March 2015. Vedanta held 18.73% stake in Cairn India as at 31 March 2015.
Vedanta reported consolidated net loss of Rs 19228.12 crore in Q4 March 2015 compared with consolidated net profit of Rs 1621.55 crore in Q4 March 2014. Total income fell 18.5% to Rs 17661.80 crore in Q4 March 2015 over Q4 March 2014.
Vedanta (formerly known as Sesa Sterlite /Sesa Goa), a Vedanta Group company is one of the world's largest global diversified natural resource majors, with operations across zinc-lead-silver, oil & gas, iron ore, copper, aluminium and commercial power.
Powered by Capital Market - Live News
