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Shares of mining major Vedanta zoomed over 11 per cent on Friday after it reported robust production in the September quarter. Lower cost of production in the quarter also helped. Iron ore production in Karnataka increased and operations started in Goa.
Silver output increased 39 per cent year-on-year. Refined zinc output rose 17 per cent Y-o-Y locally, but international output dipped 20 per cent. Copper cathode production dipped due to a maintenance shutdown.
Alumina output also ramped up and aluminium metal production increased 5 per cent. Production costs were also lower compared to a year ago due to weak rupee and lower alumina costs.
Oil and gas production increased 6 per cent Y-o-Y with output from its offshore assets higher by 19 per cent . Copper cathode production, though, dipped due to a maintenance shutdown.
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