Shares of Vedanta suffer the most as the Tamil Nadu government ordered the permanent closure of the leading metal conglomerate’s copper plant STERLITE in Tuticorin, (Tamil Nadu) on Monday evening. After violent protests last week, see earlier report, that lead to the death of 13 people in police firing.
The Tamil Nadu government on Tuesday further ordered the cancellation of land that was allocated for the company’s expansion. The news spread after market closing hours on Monday.
The share price of Vedanta Limited has plunged by more than 25% since the starting of 2018.
Shares of Vedanta on Tuesday were quoting at Rs. 250.55 down by 1.22% at the Mid-noon hours of trade, on NSE.
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