GET Stock QuotesNews18 APP
News18 English
»
1-min read

Vedanta Shares Hit Over 10-Month Low as Sterlite Protests Turn Violent

Demonstrations against the copper plant, one of India's biggest, have been going on for more than three months, with protesters alleging that it is a major source of pollution and risk to fisheries.

Reuters

Updated:May 23, 2018, 11:59 AM IST
facebookTwittergoogleskypewhatsapp
Vedanta Shares Hit Over 10-Month Low as Sterlite Protests Turn Violent
Women shout slogans calling for the closure of Vedanta Resources in Tamil Nadu, India. REUTERS/P.Ravikumar
Shares of Vedanta Ltd fell to their lowest since July 5, 2017, after at least nine people were killed in the southern state of Tamil Nadu when police fired at violent protesters calling for the closure of a copper smelter run by parent Vedanta Resources Plc.

Demonstrations against the copper plant, one of India's biggest, have been going on for more than three months, with protesters alleging that it is a major source of pollution and risk to fisheries.

The smelter, run by Vedanta's Sterlite Copper unit, is controlled by Vedanta Ltd, a majority-owned subsidiary of London-listed Vedanta Resources.

Environmental activists and some local politicians want the government to shut the plant permanently.

Vedanta had earlier said the protests were based on "false allegations", and that it plans to double capacity at the smelter to 800,000 tonnes per year.

Shares were down 3.2 percent as of 0500 GMT, after falling as much as 5.50 percent earlier in the session.

Also Watch

Read full article
Most Active
Company Price Change %Gain
ICICI Bank 289.75 -3.25 -1.11
TCS 1,825.80 -3.20 -0.17
Dr Reddys Labs 2,382.40 -3.45 -0.14
Tata Steel 554.25 -4.25 -0.76
HDFC Bank 2,035.45 +16.30 +0.81
Company Price Change %Gain
TCS 1,827.80 -2.90 -0.16
Tata Global Bev 266.85 -7.95 -2.89
Dr Reddys Labs 2,384.40 +4.15 +0.17
Indostar Capita 562.70 -0.35 -0.06
Jubilant Food 2,763.90 -44.95 -1.60
Top Gainers
Company Price Change %Gain
GAIL 344.00 +5.90 +1.75
Bajaj Finance 2,269.00 +25.85 +1.15
HDFC Bank 2,035.45 +16.30 +0.81
Bharti Airtel 372.55 +1.65 +0.44
Kotak Mahindra 1,320.55 +5.25 +0.40
Company Price Change %Gain
HDFC Bank 2,034.25 +12.90 +0.64
Kotak Mahindra 1,321.45 +7.40 +0.56
ONGC 165.00 +0.65 +0.40
Asian Paints 1,279.60 +2.90 +0.23
Bharti Airtel 372.25 +1.00 +0.27
Top Losers
Company Price Change %Gain
Hindalco 223.90 -7.10 -3.07
Vedanta 225.50 -6.70 -2.89
BPCL 411.15 -11.95 -2.82
IOC 169.00 -4.90 -2.82
HPCL 313.45 -8.65 -2.69
Company Price Change %Gain
SBI 270.90 -5.95 -2.15
Infosys 1,245.55 -20.95 -1.65
Maruti Suzuki 8,860.00 -133.40 -1.48
Wipro 261.60 -4.00 -1.51
Adani Ports 364.90 -5.15 -1.39