Thursday , October 21 2021

Vedanta tumbles on planning to delist American depositary shares

Vedanta is currently trading at Rs. 294.55, down by 5.45 points or 1.82% from its previous closing of Rs. 300.00 on the BSE.

The scrip opened at Rs. 298.20 and has touched a high and low of Rs. 298.75 and Rs. 293.50 respectively. So far 491395 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 341.25 on 16-Aug-2021 and a 52 week low of Rs. 91.25 on 04-Nov-2020.

Last one week high and low of the scrip stood at Rs. 302.40 and Rs. 283.05 respectively. The current market cap of the company is Rs. 109471.37 crore.

The promoters holding in the company stood at 65.18%, while Institutions and Non-Institutions held 20.89% and 9.60% respectively.

Vedanta is planning to delist its American depositary shares and concentrate all trading of its equity shares on the BSE and NSE. The company’s board of directors has taken into account the recent low trading volume of its ADS on the NYSE and the associated costs of maintaining the listing and related obligations.

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.

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