Vedanta rises over 3.50% after SBI reportedly gives the go-ahead to mining firm's demerger plan

Vedanta Share Price: Vedanta shares jumped by over 3.50 per cent on BSE on Thursday (June 6, 2024) after State Bank of India reportedly gave its go-ahead to the mining company's demerger plan. 

Vedanta shares that closed at Rs 441.35 each in the previous session jumped by 3.56 per cent to Thursday's high of Rs 457.05 apiece after starting the session at Rs 451.75.

The stock of Vedanta was trading up by 3.22 per cent, or Rs 14.20, at Rs 452.35 at 9:40 am on Thursday. 

In an important development for the company, State Bank of India has reportedly given its consent to the mining firm to separate its existing businesses into six independent companies. 

With SBI's approval, the company has received consent from most of the lenders. However, approval from some lenders is pending.