Vedanta Ltd - Aluminium Business signs Memorandum of Understanding with GACL

Vedanta Ltd (Aluminium Business) has signed a Memorandum of Understanding (MoU) with Gujarat Alkalies and Chemicals Ltd (GACL), for exploring various business opportunities in the areas of Caustic-Chlorine and other allied businesses.

The MoU aims to recognize the potential of adding value to the businesses of both Vedanta Aluminium and GACL, by adopting a collaborative approach based on their complimentary skills, strengths, and common business interests to achieve synergy. Accordingly, both companies desire to explore opportunities for co-operation in greater detail so that resources can be pooled together in a mutually beneficial manner. This is also in line with Vedanta Aluminium's efforts towards vertical integration.

With this MoU, both companies have, in-principle, agreed to jointly explore business opportunities either in the form of a joint venture project or through contractual arrangements of mutual interest.

Shares of Gujarat Alkalies and Chemicals Limited was last trading in BSE at Rs. 811.55 as compared to the previous close of Rs. 776.45. The total number of shares traded during the day was 80865 in over 3339 trades.

The stock hit an intraday high of Rs. 824.00 and intraday low of 779.75. The net turnover during the day was Rs. 65642471.00.

Shares of Vedanta Limited was last trading in BSE at Rs. 257.20 as compared to the previous close of Rs. 258.50. The total number of shares traded during the day was 385323 in over 7278 trades.

The stock hit an intraday high of Rs. 260.15 and intraday low of 256.00. The net turnover during the day was Rs. 99567139.00.

Source : Equity Bulls

Keywords

Vedanta INE205A01025 AluminiumBusiness MOU GujaratAlkaliesandChemicals INE186A01019