Vedanta surges 8% after promoters buy additional stake via open market

An increase in stake could make it a bit easier for the promoters to delist the company after the mandatory one year cooling off period gets over

Shares of Vedanta surged 8 per cent to Rs 162.60 on the BSE in Thursday's early morning trade after over 200 million, or 6 per cent of the total equity of the aluminium company, changed hands via block deals on the BSE and NSE, the exchange data shows. With today’s gain, the stock has rallied 17 per cent in the past two trading days.

At 09:15 am, around 111 million shares, or 3 per cent stake, changed hands on the BSE, and around 100 million shares, or 3 per cent stake, changed hands on the NSE, the exchanges data