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Shares of Vedanta fell to 11-month low as the Tamil Nadu government has closed the copper smelter after bloody protest. The stock slumped as much as 6.2 per cent to Rs 237.9, lowest since June 2017.
The Tamil Nadu government had on Monday issued an order to permanently shut down Sterlite’s copper plant in the port town of Thoothukudi, a week after 15 people protesting against the factory were killed in police firing.
Demonstrations against the copper plant, one of India's biggest, had been going on for more than three months, with protesters alleging that it was a major source of pollution and risk to fisheries.
Nearly 3.2 million shares changed hands in the first 15 minutes of trade, compared with the 30-day average volume of 12.1 million shares.
(with inputs from Reuters)
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