Vedanta hits over 10-month low as protests against copper plant in Tamil Nadu turn violent

Reuters 

(Reuters) - Shares of Ltd fell to their lowest since July 5, 2017, after at least nine people were killed in the southern state of when police fired at violent protesters calling for the closure of a copper smelter run by parent Resources Plc.

Demonstrations against the copper plant, one of India's biggest, have been going on for more than three months, with protesters alleging that it is a major source of pollution and risk to fisheries.

The smelter, run by Vedanta's Sterlite Copper unit, is controlled by Ltd, a of London-listed

Environmental activists and some local politicians want the government to shut the plant permanently.

Vedanta had earlier said the protests were based on "false allegations", and that it plans to double capacity at the smelter to 800,000 tonnes per year.

Shares were down 3.2 percent as of 0500 GMT, after falling as much as 5.50 percent earlier in the session.

(Reporting by in Bengaluru; Editing by Sunil Nair)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 23 2018. 10:38 IST