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Cairn India Slips Nearly 6% on Vedanta Merger Buzz

By Super

Mumbai, Jun 9 (PTI) Shares of Cairn India today fell nearly 6 per cent amid reports that metal and mining giant Vedanta is considering merger of the company with itself.

The Cairn India stock fell 5.56 per cent to Rs 170.60 - its 52-week low - on BSE. On NSE, it was down 5.69 per cent at Rs 170.55.

Cairn India Slips Nearly 6% on Vedanta Merger Buzz
Cairn India: Quotes, News
BSE 285.4BSE Quote0 (0.00%)
NSE 285.35NSE Quote0 (0.00%)

Shares of Vedanta, however, rose 4.15 per cent to Rs 184.40 on BSE. According to news reports, Vedanta is in final stages to announce merger of Cairn India, a listed oil and gas explorer, with itself.

The move may give the parent access to Cairn's cash and help reduce debt, the reports said. Meanwhile, the benchmark BSE Sensex was quoting flat at 26,522.81.


Read more about: cairn india vedanta merger
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