Cairn India News
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Vedanta Resources Plc, the oil and metals producer controlled by billionaire Anil Agarwal, hired six banks to arrange a $1.2 billion loan to refinance debt used to buy Cairn India Ltd., according to two people familiar with the matter.
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Reliance Industries Ltd., controlled by India’s richest man, is optimistic for the first time in three years about reversing a slide in gas output after the government began approving its expansion plans.
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Vedanta Resources Plc’s acquisition of oil explorer Cairn India Ltd. was today cleared by the nation’s highest court, which rejected a petition that sought to declare the $8.67 billion deal illegal.
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Cairn India Ltd., which extracts crude from the nation’s biggest deposit on land, rose the most in a week in Mumbai after saying it found oil in a new well.
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Cairn India Ltd., which pumps crude oil from the nation’s biggest deposit on land, started its first commercial sales of natural gas from the area and activated a new oil field to revive lower-than-expected output.
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Cairn India Ltd., controlled by billionaire Anil Agarwal, will start drilling its first new well in five years to raise output and help bolster the best profit margin for an oil company in Asia.
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The following companies may have unusual price changes in India trading. Stock symbols are in parentheses and share prices are as of the last close.
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U.K. stocks advanced for a second day, led by commodity producers, as manufacturing rose more than forecast, Alcoa Inc. began the U.S. earnings season with profit that beat projections and Chinese inflation eased.
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Indian stock-index futures rose, signaling stocks may extend the biggest weekly increase in more than four months.
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Vedanta Resources Plc, controlled by billionaire Anil Agarwal, may soon restart a mothballed alumina refinery after a change in mining rules helps resume supply of raw materials to the plant.
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