After ten long months of wait, the Cairn-Vedanta deal has finally made it through. The Cabinet Committee on Economic Affairs (CCEA) has given a conditional approval to the USD 9-billion deal, accepting most of the recommendations of the Group of Ministers (GoM).
Expectations have been flying high on the possible imprint of the deal that will be seen on the oil and gas sector. The deal for starters marks the entry of Vedanta Resources into the oil and gas sector. On the street, the deal may bring a possible start to a gradual climb for the Cairn India stock, observes SP Tulsian of sptulsian.com.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
