Vedanta shares drop 6% after Sterlite protests in Tamil Nadu
Vedanta shares fall to their lowest since 5 July 2017, after at least nine people were killed in Tamil Nadu when police fired at protesters calling for the closure of Vedanta’s Sterlite Copper unit
New Delhi: Shares of Vedanta fell 6% on Wednesday on reports that nine people were killed in police firing after protests against the closure of Vedanta group’s Sterlite Copper plant turned violent in Tamil Nadu’s Tuticorin.
After opening the day on a weak note, the stock further lost 5.80% to Rs253.85 on BSE.
On NSE, shares of the company dropped 6% to Rs253.75.
Nine people were killed in police firing after protests against the closure of Vedanta group’s Sterlite Copper plant over pollution concerns turned violent in Tuticorin, with the police action drawing opposition criticism.
The protests have been going on in Tuticorin for over three months now, but violence erupted on Tuesday with agitators fighting pitched battles with police, prompting an open fire.