Vedanta shares rallied 7 per cent and hit a three-year high of Rs 287.50 on the BSE in intra-day trade on Friday on healthy and improving operating performance, supported by stable volume across business segments and increased commodity prices.
The stock was trading at its highest level since May 2018. Vedanta was trading higher for the fourth straight day, surging 12 per cent in that period. In the past six months, the stock has outperformed the market by zooming nearly 200 per cent, as compared to 18 per cent rise in the S&P BSE Sensex.
A sharp run-up in stock price of Vedanta has seen the company regain market capitalisation (market-cap) of Rs 1 trillion. At 09:46 am, the scrip was trading 6 per cent higher at Rs 286 with the market-cap of Rs 1.06 trillion, BSE data showed.
