Vedanta Shares Rally On Reports Of Resuming Mining Operations In Goa

Business

oi-Sunil

By Sunil Fernandes

Published: Friday, August 7, 2015, 10:45 [IST]

Shares in Vedanta rallied in trade after reports that the company was all set to resume mining operations in Goa. Vedanta was last trading at Rs 129 on the National Stock Exchange, up almost 2 per cent in trade.

A report in the Times of India quoted A N Joshi, Head, Corporate Affairs of Sesa Iron Business as saying, "After a struggle of almost three years of mining suspension in Goa, in spite of falling prices, Sesa Goa business of Vedanta Limited is making its best efforts to restart mining operations in Goa."

Shares in Vedanta have been losing heavy ground in the last few trading sessions as metal prices have remained soft over growth worries in China.

Vedanta shares have also reacted to reports over opposition of large shareholders in Cairn to a reported Cairn India and Vedanta merger.

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