Vedanta considering restructuring in India

Multi-metal mining giant Vedanta Resources led the risers on Tuesday, finishing the day up 7% on speculation of a group restructuring.

In response to media speculation regarding a potential group restructuring, the company said that its "strategy is to simplify and consolidate its corporate structure".

Previously, there were rumours that Vedanta was considering merging its two Indian subsidiaries, Sterlite (copper) and Sesa Goa (iron ore), according to Reuters.

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However, the company gave no more information regarding its "strategy" but said that "management reviews options to deliver this strategy on an ongoing basis and will update the market as appropriate," the company announced this afternoon.

BC