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Vedanta shares drop 6% after Sterlite protests in Tuticorin

On the NSE, shares of the company dropped 6% to Rs 253.75 intra-day. At 2.12 pm, the stock was down Rs 13.65 or 5.06% to Rs 256.30

business Updated: May 23, 2018 14:21 IST
Press Trust of India
Press Trust of India
Press Trust of India
Vedanta shares,Vedanta share price,Sterlite
A bird flies past the logo of Vedanta installed on the facade of its headquarters in Mumbai.(Reuters File Photo)

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 4.94% to Rs 256.20 on the BSE at 2.12 pm.

On the NSE, shares of the company dropped 6% to Rs 253.75 intra-day. At 2.12 pm, the stock was down Rs 13.65 or 5.06% to Rs 256.30

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.

First Published: May 23, 2018 14:21 IST