Cairn India, Vedanta Shares Rise After $2.3-Bn Deal

Mumbai: Vedanta Ltd and Cairn India Ltd shares rose on Monday after Vedanta offered to buy out minorities in cash-rich oil unit Cairn India in a $2.3-billion (Rs 14,720 crore at 1 dollar = 64 rupees) deal.

Vedanta and Cairn India shares gained about 0.8 per cent each.

As of 9:42 a.m., Vedanta Ltd was trading 0.19 per cent higher at Rs 84.35 apiece on the BSE whereas Cairn India was trading 0.75 per cent lower at Rs 179.40.