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.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

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