Share price of Vedanta gained more than three per cent on Tuesday, August 24, after the company announced that it made a natural gas discovery in a block in Gujarat that it had won in the open acreage licensing policy (OALP) round. On Tuesday, Vedanta opened on the BSE at Rs 279.35, swinging to an intra day high of Rs 284.20, and an intra day low of Rs 276.10, in the trading session so far.
The mining company announced that it notified the DGH as well as the Ministry of Petroleum and Natural Gas about a gas and condensate discovery – which is named ‘Jaya’ in its exploratory well Jaya1. The exploratory well was earlier known as Jambusar-Updip-1.
The well was drilled in the open acreage licensing policy or OALP block CB-ONHP/2017/2 in the Bharuch district of Gujarat. The approval of the management committee is being sought on the matter.
On the NSE, Vedanta opened at Rs 279.80, touching an intra day high of Rs 284.30 and an intra day low of Rs 276.10, in the session so far. It was last trading 3.41 per cent higher at Rs 283.30 on the NSE.
Shares of Vedanta were last trading 3.61 per cent higher at Rs 284.25 on the BSE.