Vedanta share price today: The stock of the mining-to-oil and gas conglomerate halted an eight-day losing streak on Wednesday with a gain of more than two per cent, after its Chairman, Anil Agarwal, assured investors that the company has enough means to meet debt repayment liabilities in the coming quarters. Agarwal also said Vedanta has pre-paid all of its debt, which was due for repayment by March 2023. 

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Also Read: Govt opposes Hindustan Zinc's $2.98 billion deal for Vedanta zinc assets

"Vedanta Resources Limited has pre-paid all of its maturities due till March 2023, deleveraging by $$2 billion in the past 11 months. Thus, it has achieved half of its $$4 billion three-year debt reduction commitment in the first year, ahead of its plans for this fiscal year," Vedanta said in a statement.

"We would like the investors to note that Vedanta group operating companies, underpinned by strong operating profitability from diversified and low-cost Tier 1 assets, are delivering healthy cash flows whilst maintaining disciplined capital allocation," it added.

Vedanta shares rose as much as 2.8 per cent to Rs 276 apiece on BSE, in some respite for investors after the stock lost 14.8 per cent of its value in the past eight back-to-back sessions. 

Vedanta Slips 9%, Hits Four-Month Low Amid Heavy Volumes 

Vedanta, a subsidiary of Vedanta Resources, does not have any pledge except 6.8 per cent of Hindustan Zinc's shares. 

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.