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Shares of Vedanta Ltd fell as much as 4.4 per cent to a near two-week low. This comes a day after London's Supreme Court said Zambian villagers can sue the company in England
The apex court of the UK dismissed Vedanta's appeal of a lower-court ruling that a case in which villagers alleged their land was polluted by a Vedanta unit could be heard in England
“Issues at Vedanta are cropping up again and again, so people who are hoping for some turnaround are disappointed”, said analysts.
These regulatory issues, on top of the recent corporate governance issues, have further reinforced negative sentiment, they added.
Vedanta shares mark sharpest intra-day drop since February 11, 2019.
The stock is the top loser on the Nifty, which is down 0.07 per cent as of 0643 GMT.
About 10.4 million shares change hands, versus the 30-day average of 10.5 million shares.
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