Vedanta Ltd’s shares were up by 0.60 per cent to Rs 258.78 after the company announced that its aluminium business had entered into a memorandum of understanding with Gujarat Alkalies and Chemicals Ltd (GACL) to explore potential business in the caustic-chlorine and related sectors.
The MoU outlines the intention to examine joint ventures or contractual arrangements that align with both companies’ interests and support Vedanta Aluminium’s vertical integration efforts.
Vedanta Ltd, a subsidiary of Vedanta Resources Limited, has operations across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan and Japan in sectors including aluminium, oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, power, and glass substrate, besides venturing into manufacture of semiconductors and display glass.
The shares were up by 0.60 per cent to Rs 258.75 at 2.53 pm on the BSE.