Vedanta fell 1.84% to Rs 248.45 at 11:14 IST on BSE after the Tamil Nadu government issued orders closing the copper smelter plant in Thoothukudi owned by the Vedanta Group.
The announcement was made after market hours yesterday, 28 May 2018.Meanwhile, the S&P BSE Sensex was up 22.99 points, or 0.07% to 35,188.47.
On the BSE, 8.33 lakh shares were traded in the counter so far compared with average daily volumes of 10.54 lakh shares in the past two weeks. The stock had hit a high of Rs 250 and a low of Rs 238.05 so far during the day. The stock hit a 52-week high of Rs 355.70 on 29 January 2018. The stock hit a 52-week low of Rs 226.60 on 2 June 2017.
Vedanta said that it received an order dated 28 May 2018 from the Government of Tamil Nadu directing the Tamil Nadu Pollution Control Board (TNPCB) to seal the company's copper smelter plant 1 at Thoothukkudi District, Tamil Nadu' and to close the said plant permanently. Vedanta said it is further studying the order and shall keep the stock exchanges updated on any developments.
On a consolidated basis, net profit of Vedanta rose 34.32% to Rs 5675 crore on 22.74% rise in net sales to Rs 27630 crore in Q4 March 2018 over Q4 March 2017.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil & gas, zinc - lead - silver, aluminium, copper, iron ore and commercial power.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
