Vedanta lifted by Indian oil

Vedanta Resources’ shares got a boost yesterday after the firm revealed its Cairn India subsidiary has struck more oil in the Rajasthan desert. The discovery is Cairn India’s 26th find in the development block. Vedanta bought the firm from London-listed peer Cairn Energy for £5.6bn in 2011. FTSE 100-listed shares in Vedanta rose 5.3 per cent to 1,116p yesterday.