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Cairn India shares down on reports, it may merge with Vedanta

On Tuesday, the shares of Cairn India fell around 5% in the noon trade on the reports that the parent Vedanta Group is close to merging the oil and gas company with its metals and mining firm Vedanta Resources.

There is a final stage of discussion between both the companies and the process of that would be completed by March 2016.

Vedanta Resources had as on March 31, 2015 standalone net debt of Rs 36,796 crore ($5.75 billion).

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