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Vedanta shares drop 6% after protests in Tamil Nadu

May 23, 2018 12:52 pm | Updated December 01, 2021 06:12 am IST - New Delhi,

Shares of Vedanta fell 6 % on reports that nine people were killed in police firing after protests against the closure of Vedanta group’s Sterlite Copper plant turned violent in Tamil Nadu’s Tuticorin.

After opening the day on a weak note, the stock further lost 5.80 % to ₹253.85 on BSE.

On NSE, shares of the company dropped 6 % to ₹253.75.

Nine people were killed in police firing after protests against the closure of Vedanta group’s Sterlite Copper plant over pollution concerns turned violent in Tuticorin, with the police action drawing opposition criticism.

The protests have been going on in Tuticorin for over three months now, but violence erupted on Monday with agitators fighting pitched battles with police, prompting the police to open fire.

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