Shares of metals and mining giant Vedanta Limited are among the top stocks hogging the limelight Wednesday morning. At Rs 260, slightly off the day's high of Rs 262.50, Vedanta is now up 2.7% from its previous closing price. On the National Stock Exchange, the Vedanta counter has clocked a volume of nearly 9.3 million shares so far in the session. The Vedanta Group of London-based NRI Anil Agarwal announced on Tuesday that the merger with its subsidiary Cairn India has become effective. Cairn India, the oil & gas company is debt-free with cash and cash equivalents of nearly Rs 23,000 crore as of 30 September 2016. In a filing to the stock exchanges, Vedanta said that the merged company will have a market cap of $15.6 billion. The group will have one of the strongest balance sheets in the Indian corporate sector with flexibility to balance capital allocation to the higher return projects while providing a strong and stable dividend, it added. Vedanta Limited's CEO To...
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