Vedanta up 8% as Moody's sees no impact on credit quality post biz spin-off

Vedanta had recently announced that its board of directors have formed a subcommittee to evaluate a potential spinoff of its aluminum, iron and steel, and oil and gas businesses into separate listed c

Vedanta surged nearly 8 per cent to a high of Rs 354 in early deals on the BSE on Tuesday after nearly 7 per cent of total equity of metal company changed hands via multiple block deals. The stock has rallied 15 per cent in past two trading days in otherwise weak market.

At 09:35 am; the stock was trading 7 per cent higher at Rs 351.55, as compared to 0.27 per cent decline in Nifty50 index. A combined 251.86 million equity shares or 6.77 per cent of total equity of Vedanta have changed hands on the NSE and BSE,