Costs fall and debts swell at Vedanta

Despite posting a significant jump in net debt and lower than expected cash profit of $1.23bn (£0.98bn), the publication of Vedanta Resources ' (VED) half-year results caused shares in the commodities group to soar 12 per cent. That turbocharged bullishness should be seen in the immediate context of surging zinc and copper prices and broad hopes of a Trump-led US construction boom, but a closer look reveals a less than rosy picture.

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