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Cairn India hits 52-week high as merger become effective
Shares of Cairn India soared over 3 percent, hitting fresh 52-week high, on the Bombay Stock Exchange after the company said that the merger with Vedanta pursuant to the scheme of arrangement has become effective. Following the announcement, shares of the company gained as much as 3.10 percent to hit a 52-week high of Rs 313.05 apiece on the Bombay Stock Exchange.