Vedanta Stock Surges Over 3%, Reaches 52-Week Peak

Shares of Vedanta climbed over 3 per cent on Thursday after the group said it is aiming to invest USD 20 billion across all its businesses in India over the next four years.The companys stock advanced 3.22 per cent to finish the trade at Rs 410.70 apiece on the BSE.

Shares of Vedanta climbed over 3 per cent on Thursday after the group said it is aiming to invest USD 20 billion across all its businesses in India over the next four years.

The company's stock advanced 3.22 per cent to finish the trade at Rs 410.70 apiece on the BSE. During the day, it jumped 3.99 per cent to Rs 413.80 -- its 52-week high.

On the NSE, it climbed 3.25 per cent to settle at Rs 410.80 each. In intra-day, the stock went up by 4 per cent to the 52-week high of Rs 413.90.

The company added Rs 4,757.64 crore, taking its market valuation to Rs 1,52,665.27 crore.

In volume terms, 9.41 lakh shares of the company were traded on the BSE and 127.89 lakh shares on the NSE during the day.

The Vedanta Group is aiming to invest USD 20 billion across all its businesses in India over the next four years, its Chairman Anil Agarwal said on Wednesday.

The group will sell the steel business only at the right price, and is committed to continue running it if it does not get the right price, Agarwal told PTI on the sidelines of a company event in Mumbai.

''At the moment, we have a plan to invest USD 20 billion across sectors in four years time,'' Agarwal said.

The investments will be focused on technology, electronics, and glass businesses apart from the other activities that the group is engaged in, he said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)