Shares of Vedanta Ltd are in focus on Wednesday after the Competition Commission of India (CCI) approved its proposed acquisition of Jaiprakash Associates Ltd (JAL) under the corporate insolvency resolution process (CIRP) in accordance with the Insolvency and Bankruptcy Code, 2016 (IBC).

Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is listed on both the BSE and NSE. The stock is up 21 per cent in the past six months. Analysts noted the scrip has given a 15-year high Cup and Handle breakout on monthly charts. Such moves push prices out of multi year consolidation to trend higher leading to multifold returns in the next couple of quarters, Nuvama said. Advertisement

"Given the recent history, te stock has made higher lows on monthly charts in the past 4-5 years of trading indicatin

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