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Anil Agarwal-led Vedanta is looking to raise cash through issue of equity shares or by way of further public offer, rights issue, or other ways.
Shares of Vedanta Ltd are in focus today after Vedanta Group said the company's subsidiary, Malco Energy Limited, has set up a new unit in Saudi Arabia for copper business for SAR (saudi riyal) 1,00,000. The newly incorporated unit has been named 'Vedanta Copper International VCI Company Limited', according to an exchange filing by the company. In the preopening session, the metal stock was trading 0.96% higher at Rs 243 on BSE. In the last one month, the Vedanta stock has gained 6.43% .
Stocks to watch: Shares of firms like TCS, Bajaj Finance, ONGC, Dabur, Vedanta, Paytm, SJVN, and others will be in focus on Thursday's trade.
Vedanta stock has lost 15.04 percent of its value over the past six months, while the benchmark Nifty has gained 8.07 percent during the period
Vedanta has set up a new copper unit through subsidiary Malco Energy Limited for saudi riyal 1,00,000 in Saudi Arabia