Shares of Vedanta Limited dipped 6 per cent to Rs 120.20 on the BSE after the Madras High Court refuesd to allow reopening of Sterlite copper smelting plant in Tamil Nadu's Thoothukudi.
A division bench of Justices T S Sivagnanam and V Bhavani Subbaroyan pronounced the verdict, seven months after reserving orders in the case. The court refused to stay the Tamil Nadu government's order shutting down Sterlite Copper plant in Thoothukudi.
Vedanta Limited had moved the court challenging the state government's closure order against its Sterlite Copper Plant on May 28, 2018.
The Thoothukudi Sterlimite copper smelting plant remains shut since April