Why Vedanta Ltd shares rose 9% today
Vedanta stock touched an intraday high of Rs 259.75, rising 8.86 per cent against the previous close of Rs 236.80 on BSE.
Stock of mining major Vedanta climbed nearly 9 per cent today after the Anil Agarwal-led firm announced second interim dividend of Rs 19.50 per share. Sentiments around the stock also turned positive with the government cutting the tax on domestically produced crude to Rs 17,000 a tonne, effective July 20. Cairn Oil and Gas, the company's subsidiary has 51 oil and gas blocks across the country.
Vedanta stock opened 4.19 per cent higher at Rs 248.60 against the previous close of Rs 236.80 on BSE. Shares of Vedanta touched an intraday high of Rs 259.75, rising 8.86 per cent on BSE.
Vedanta stock trades higher than 5-day and 20-day moving averages but lower than 5...