Vedanta rises nearly 2% on Tuesday as firm cuts gross debt by $1 billion1 min read 25 Apr 2023, 04:02 PM IST
The parent company of Vedanta Ltd, Vedanta Resources Ltd, which is led by Anil Agarwal, stated on Monday that it has paid off all outstanding loans and bonds due in April, lowering its gross debt by an additional $1 billion.
Shares of Vedanta Ltd gained nearly 2% on Tuesday's trade following the news that all maturing loans and bonds due in April have been settled by the company, resulting in a $1 billion reduction in gross debt. The stock hit an intraday high of ₹281.40 and low of ₹275.45 on NSE.
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