Vedanta shares gain over 2% on reports of restarting mining in Goa

By: | Updated: August 7, 2015 5:40 PM

Vedanta shares gained over 2 per cent on Friday on reports that the company will restart mining of iron ore in Goa next week.

sensex and niftyAt 11.33 am, the share price of the company was trading 2.01 per cent higher at Rs 129.45. (Express Photo)

Vedanta shares gained over 2 per cent on Friday on reports that the company will restart mining of iron ore in Goa next week.

At 11.33 am, the share price of the company was trading 2.01 per cent higher at Rs 129.45. It opened at Rs 130.70 and has touched a high and low of Rs 131 and 128.80, respectively, in trade so far.

The scrip closed 2.01 per cent higher at Rs 129.45.

A crackdown on illegal mining in 2012 banned mining in the state; the ban was partially lifted last year with a cap on annual production at 20 million tonnes.

For the quarter ended June 2015, the company reported a consolidated net profit of Rs 865.94 crore, up 130.57 per cent against Rs 375.56 crore in the corresponding quarter a year ago.

(With inputs from Reutes)

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