Vedanta shares rises over 3 per cent

Shares of Vedanta on Thursday jumped over three per cent, a day after the company said it has put in a preliminary expression of interest for buying the government's stake in Bharat Petroleum Corp Ltd (BPCL). On the NSE, the company's shares rose 3.21 per cent to close at Rs 112.40.

Shares of Vedanta on Thursday jumped over three per cent, a day after the company said it has put in a preliminary expression of interest for buying the government's stake in Bharat Petroleum Corp Ltd (BPCL). On the NSE, the company's shares rose 3.21 per cent to close at Rs 112.40. The scrip had reached an intra-day high of Rs 116.85 on the bourse.

The company's shares ended 2.94 per cent higher at Rs 112.05 after touching an intra-day high of Rs 116.85 on the BSE. A special purpose vehicle floated by Vedanta Ltd and its London-based parent Vedanta Resources submitted an expression of interest before the close of deadline on November 16 for BPCL stake.

"Vedanta's EoI for BPCL is to evaluate potential synergies with our existing oil and gas business," the company said in a statement on Wednesday. The government is selling its entire 52.98 per cent stake in India's second largest fuel retailer.