Vedanta Ltd's board approved selling a 3.31% stake in Hindustan Zinc Ltd, worth over Rs 8,000 crore, will enhance funds for debt repayment and capital spending. The sale reduces Vedanta’s stake in HZL to 61.61%. This move is credit positive for Vedanta Resources Ltd's creditors but will lower future dividends from HZL.
Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.