Mumbai: Vedanta Ltd cut prices of its aluminium products by more than 1 per cent from today, trade sources told Cogencis.

The cut comes after the company had raised rates by nearly 2 per cent last week.

With today's price cut, rates of the company's products are down about 8 per cent compared to the end of the previous quarter. The three-month futures of aluminium on the London Metal Exchange, to which companies generally link prices, are down more than 9 per cent in the same period.

The aluminium vertical contributed to around a third of the company's consolidated sales in the March quarter. The company reported an operating loss in January-March.

Vedanta is present in the aluminium segment through its stake in Bharat Aluminium Co Ltd and smelters in Jharsuguda, Odisha. The company commands 40 per cent share of India's primary aluminium market.

Vedanta was the top performer on the Nifty 50 today, rising more than 2 per cent to Rs 168.10 on the National Stock Exchange.