new Delhi. So far on Wednesday and Thursday, the shares of Vedanta have seen a rise of more than 18% in the last two days. As a result, the company’s stock has reached a new high of 52 weeks. According to the information, Vedanta has announced to buy shares to increase its stake in the open market. Since then, the shares of the company have been seeing tremendous boom. On Wednesday, the company’s stock was trading between 6 and 8 per cent. On Thursday too, the company’s stock is trading with a gain of 12 per cent. Let us also tell you how many rupees the company’s share has become.
Why the company’s shares increased
According to the report on Wednesday, the promoters of Vedanta will propose to buy 185 million shares of Vedanta, that is, plans are being made to buy 4.9 per cent of the total equity through block deal. Promoters have fixed the price range for the offer from Rs 150 to Rs 160 per share. With this transaction, the promoter’s stake in the company can increase from 50.14 per cent to 55.04 per cent. Since this announcement, there has been a tremendous increase in the shares of the company.
Shares of the company reached new heights of 52 weeks
Today, the company’s shares have reached a new high of 52 weeks. As per the data received from BSE, the company’s stock rose 12 per cent to Rs 170.50 per share today, a new 52-week record. Whereas today the company’s stock started at Rs 156. While on Wednesday, the company’s stock closed at Rs 150.45. At present, the company shares are trading at 162.30 rupees with a gain of 7.88 per cent, or Rs 11.85, at 11:05 AM.
Shares rose by 18 percent from Wednesday
On the other hand, the stock of the company has risen by more than 18 per cent on Wednesday and Thursday. The company’s stock closed at Rs 139.25 on Tuesday. Whereas today the highest level of 52 weeks has reached Rs 170.50 not only today. That is, the stock price of the company has seen a rise of more than Rs 31 in two days. According to experts, the shares of the company may see a further rise.
Earned more than 11,600 crores
At the same time, the company has seen a tremendous increase in the market cap due to the increase of 18 percent in these two days. After the market closed on Tuesday, the market cap of the company was around Rs 51873.65 crore, which rose to Rs 63514.96 crore after reaching the share price of Rs 170.50. During this period the market cap of the company increased by Rs 11641.31 crore.