Best SEBI-Registered RA Firm - Vedanta moves up as its Cairn Oil & Gas inks MoU to join UNEP’s OGMP 2.0

Vedanta is currently trading at Rs. 459.20, up by 0.50 points or 0.11% from its previous closing of Rs. 458.70 on the BSE.

The scrip opened at Rs. 458.80 and has touched a high and low of Rs. 464.90 and Rs. 457.20 respectively. So far 101718 shares have been traded on the counter.

The BSE group 'A' stock with a face value of Rs. 1 touched a 52-week high of Rs. 523.60 on September 30, 2024, and a 52-week low of Rs. 230.40 on November 6, 2023.

The scrip's last one-week high and low stood at Rs. 474.35 and Rs. 452.90, respectively. The company's current market cap is Rs. 179682.33 crore.

The promoters holding in the company stood at 56.38%, while Institutions and Non-Institutions held 27.80% and 15.82% respectively.

Cairn Oil & Gas, part of Vedanta, has signed a Memorandum of Understanding (MoU) with United Nations Environment Programme’s (UNEP) flagship methane reporting and mitigation initiative - Oil & Gas Methane Partnership (OGMP) 2.0, making it the first Oil & Gas producer in India to commit to an effective reduction of methane emissions, further accelerating its efforts to decarbonize its operations. OGMP 2.0 established a comprehensive framework that includes best practices for emissions management and a robust reporting system. It emphasizes accurate measurement, reporting, and verification (MRV) of methane emissions to drive reductions effectively.

Under this MoU, Cairn will establish a 5-year methane reduction target and transparently report its progress to OGMP. This would enable Cairn to analyze its emission profiles and utilize the data to mitigate emissions cost-effectively. With this partnership, Cairn reaffirms its commitment to accelerate its efforts towards becoming Net Zero Carbon by 2030. OGMP 2.0 covers over 40% of global oil and gas production empowering companies to improve the quality and accuracy of emissions data for effective methane reduction.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc-lead-silver, copper, iron ore, aluminium, and commercial power.

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