Vedanta Resources plc (LON: VED) bought Cairn India, BHP Billiton plc (LON: BLT) captures the profit

BHP Billiton plc and Vedanta Resources plc shares up

In brief: Vedanta Resources plc (LON: VED) enters into a bargain with Cairn India, BHP Billiton plc (LON: BLT) shares continued to rise in price slowly.

BHP Billiton plc (LON: BLT) can show a serious increase in profits – the Open Knowledge analysts say. BHP Billiton plc shares came close to 1,953.50 points, gaining 0.54% in early trading session.

Vedanta Resources plc (LON: VED) shares rose in value to 2,169.00 points, gaining +116.00 (5.65%). The mining company Vedanta Resources buys 60% stake in Cairn India for $ 9.6 billion to gain access to the largest in India’s onshore crude oil. It is reported that Vedanta will pay between $ 8.5 billion to $ 9.6 billion in cash to Cairn Energy, the parent company of Cairn India, intended partly to convey to shareholders, partly harnessed to develop oil fields in Greenland and elsewhere.

Igor Tringlers
2010-08-16 10:43, Economics.

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