Sterlite Copper represents the copper unit of Vedanta Limited. The plant currently operates a 400,000 Metric Tonnes Per Annum (MTPA) Copper Smelter and a 160 MegaWatt coal based power plant in Thoothukudi.
Shares of Vedanta slipped more than 5 percent in the early trade on Wednesday as protests seeking closure of copper smelter run by Vedanta Resources at Thoothukudi turned violent, killing 12 people. The violence is said to have started after the police fired at violent protesters.
Sterlite Copper represents the copper unit of Vedanta Limited. The plant currently operates a 400,000 Metric Tonnes Per Annum (MTPA) Copper Smelter and a 160 MegaWatt coal based power plant in Thoothukudi.
The residents of Thoothukudi have been demanding the closure of the Sterlite Copper Smelter for the past 100 days and had decided to take out a march before the Tuticorin District Collectorate on Tuesday. Several battalions launched black flag protests across Tuticorin only to be faced by strong resistance from the Tamil Nadu police.
The police reportedly resorted to lathi charge, and the use of tear gas and water cannons to disburse a furious crowd.
The protestors responded to the police resistance by pelting stones at them and setting vehicles on fire en route to the march. The staff at the District Collectorate was evacuated as the protests intensified.
At 09:22 hrs Vedanta was quoting at Rs 259.75, down Rs 9.75, or 3.62 percent on the BSE.
With inputs from PTI