Vedanta shares climb 4 pc as net loss narrows

Shares of mining major Vedanta today ended with 4 per cent gains after the company managed to lower its net loss to Rs 11,181.26 crore in the March quarter.
After rising 4.85 per cent to Rs 104.85 during the day, the stock finally ended at Rs 103.75, up 3.75 per cent, on BSE.
On NSE, the scrip gained 4 per cent to end at Rs 103.80.
The company's market valuation rose by Rs 1,112.7 crore to Rs 30,758.70 crore.
On the volumes front, 30.42 lakh shares of the company changed hands at BSE and over 2 crore shares were traded at NSE during the day.

Vedanta yesterday reported a consolidated net loss of Rs 11,181.26 crore for the March quarter of the last fiscal due to a non-cash impairment charge of Rs 12,304 crore largely relating to Cairn India.
However, the firm managed to lower its net loss compared with the year-ago period. It had posted a net loss of Rs 19,228.12 crore during January-March period of 2014-15, it had said in a BSE filing.
Total consolidated income fell 10 per cent to Rs 15,979.3 crore during January-March of 2015-16, from Rs 17,804 crore a year ago, due to fall in oil and metal prices. It was partially offset by higher volumes.