Vedanta shares jump 5% on fund raising plans

Extending its upmove for the second consecutive session, shares of mining conglomerate Vedanta Ltd today surged 5 per cent after the company said it will raise up to Rs 300 crore through private placement of non-convertible debentures (NCDs).
The stock jumped 5.03 per cent to close at Rs 217.10 on BSE. During the day, it gained 5.44 per cent to Rs 217.95.
At NSE, shares of the company soared 4.78 per cent to close at Rs 216.80.
On the volume front, 15.86 lakh shares of the company were traded on BSE and over one crore shares changed hands at NSE during the day.

The stock had gained nearly 5 per cent in the previous session also.
A committee constituted by Vedanta's Board approved offering for subscription, on a private placement basis, up to 3,000 secured, rated, listed, redeemable, NCDs of face value Rs 10 lakh each aggregating up to Rs 300 crore, it said in a regulatory filing yesterday.
The NCDs will be listed on the BSE and will mature on April 22, 2020, it added.