Vedanta Oil and Gas jumps 8% after $99 million award
Business
Vedanta Oil and Gas shares shot up over 8% on Thursday after the Delhi High Court backed a $99 million award in its favor.
The stock hit ₹39.60 on the NSE, standing out among other group companies that listed after Vedanta's recent demerger, even though the company just reported a 17% drop in oil production for Q1 FY27.
Delhi High Court dismisses Ravva objections
The High Court dismissed government objections against enforcing old arbitration awards tied to the Ravva oil field deal, saying similar issues had already been settled by the Supreme Court years ago.
The court also told banks to release Vedanta's guarantees within eight weeks, giving the company a clear boost as it wraps up this lengthy legal fight.