Vedanta shares rise on government royalty rate reduction
after close1 source ↓written by the desknot a recommendation
- on Wednesday
- 4%
- on the BSE
- ₹310
- rates drop
- 16.67% to 10.6%
Shares of Vedanta Limited surged 4% on Wednesday, reaching an intraday high of ₹310 on the BSE. This rally follows the Centre's decision to lower royalty rates on crude oil and natural gas production, particularly benefiting Vedanta's Rajasthan oil fields, which will see rates drop from 16.67% to 10.6%. This change is expected to enhance profitability in its upstream operations.
Not investment advice. For informational purposes only.