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Shares of Vedanta Resources today fell as much as 6 per cent after the mining and oil and gas firm cut FY15 and FY16 capex.
The company has cut FY15 capex to $1.5 billion and FY16 capex to $1billion due to lower oil prices.
Vedanta’s unit Cairn India had also cut FY16 capex to $500 million from $1.2 billion earlier this month.
Vedanta’s shares were down 5.4 per cent, ranking the stock among the top percentage losers on FTSE mid-caps.
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