Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  NSE India Stock Exchange  >  Vedanta Limited    VEDL   INE205A01025

VEDANTA LIMITED

(VEDL)
  Report
End-of-day quote. End-of-day quote NSE India Stock Exchange - 10/29
95.45 INR   +0.05%
06:40aVEDANTA : launches Global Accelerator Program 'Vedanta Spark'
PU
10/28VEDANTA : VEDL – Details of Commercial Papers
PU
10/24VEDANTA : Intimation for declaration of first Interim Dividend for FY 2020-21
PU
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Vedanta : Indian court refuses to allow reopening of Vedanta's copper smelter

share with twitter share with LinkedIn share with facebook
08/18/2020 | 04:31am EDT

CHENNAI, Aug 18 (Reuters) - An Indian court on Tuesday refused to allow the reopening of Vedanta's south Indian copper smelter, more than two years after it was closed because of pollution concerns that triggered violent protests.

The Tamil Nadu state government ordered the smelter to be closed a week after 13 people died when anti-pollution demonstrations turned violent and police fired at unarmed protesters.

The Madras High Court on Tuesday dismissed a plea by the company seeking the smelter's reopening.

"The doctrine of sustainable development, precautionary principle and the polluter pays principle needs to be applied," the court said.

"If applied, facts speak for themselves, petitioner needs to be closed and permanently sealed."

Tens of thousands of locals stormed the streets of Thoothukudi in south India on May 22, 2018, accusing Vedanta of polluting the environment.

Police said they opened fire as they were overwhelmed. The subsequent violence claimed 13 lives over two days and injured more than a hundred people. No policeman has been charged so far. (https://reut.rs/3kUmm4H)

Vedanta has denied accusations of pollution, and called the decision to shut its plant a political response to the outrage over the police firing.

However, the Madras High Court said in its 815-page judgment on Tuesday the shutdown "cannot be treated as knee-jerk reaction".

The judgment is the latest challenge confronting Vedanta, which has also faced legal action over its operations in Zambia.

C. Aryama Sundaram, a lawyer for Vedanta, said the company plans to challenge the Madras High Court judgment in the Supreme Court, adding the judgment would lead to an increase in India's copper imports.

The court downplayed Vedanta's argument about the economic impact.

"The petitioner has been consistently stating... requirement of copper in India cannot be met, it will be a great blow on the economy, etc. The courts have held that when it comes to economy pitted against environment, environment will reign supreme," it said.

Pankaj Kumar, the Chief Executive of Sterlite Copper, a unit of Vedanta that operates the Thoothukudi smelter, told Reuters in an interview after the judgment that the company was considering laying off staff.

"Keeping in view the protracted legal process and the prevailing economic uncertainties, the scenario is rather grim and layoffs remain a possibility," Kumar said. (Reporting by Sudarshan Varadhan; Editing by Kim Coghill, Shri Navaratnam and Barbara Lewis)


Stocks mentioned in the article
ChangeLast1st jan.
VEDANTA LIMITED 0.05% 95.45 End-of-day quote.-37.39%
share with twitter share with LinkedIn share with facebook
All news about VEDANTA LIMITED
06:40aVEDANTA : launches Global Accelerator Program 'Vedanta Spark'
PU
10/28VEDANTA : VEDL – Details of Commercial Papers
PU
10/24VEDANTA : Intimation for declaration of first Interim Dividend for FY 2020-21
PU
10/22VEDANTA : Judgment Breaks The Glass
AQ
10/22VEDANTA : HZL Results for Second Quarter & Half Year Ended September 30
PU
10/22VEDANTA : Intimation for considering Interim Dividend for FY 2020-21
PU
10/20VEDANTA : Compliance under Regulation 74(5) of SEBI DP Regulations, 2018
PU
10/20VEDANTA : Audit Report for Reconciliation of Share Capital for quarter ended Sep..
PU
10/20VEDANTA : Status of Investor Complaints for quarter ended September 30, 2020
PU
10/20VEDANTA : Intimation under Regulation 30(9) of Listing Regulations – HZL B..
PU
More news
Financials
Sales 2021 777 B 10 448 M 10 448 M
Net income 2021 37 190 M 500 M 500 M
Net Debt 2021 386 B 5 189 M 5 189 M
P/E ratio 2021 9,54x
Yield 2021 13,4%
Capitalization 354 B 4 750 M 4 752 M
EV / Sales 2021 0,95x
EV / Sales 2022 0,72x
Nbr of Employees 80 000
Free-Float 51,0%
Chart VEDANTA LIMITED
Duration : Period :
Vedanta Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends VEDANTA LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 13
Average target price 133,50 INR
Last Close Price 95,45 INR
Spread / Highest target 83,3%
Spread / Average Target 39,9%
Spread / Lowest Target 11,1%
EPS Revisions
Managers
NameTitle
Sunil Duggal Chief Executive Officer
Anil Kumar Agarwal Non-Executive Chairman
G. R. Arun Kumar Chief Financial Officer & Director
Navin Kumar Agarwal Executive Vice Chairman
Lalita Dileep Gupte Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
VEDANTA LIMITED-37.39%4 762
ANTOFAGASTA PLC10.66%12 984
FIRST QUANTUM MINERALS LTD.7.06%7 277
JIANGXI COPPER COMPANY LIMITED-14.65%6 348
KGHM POLSKA MIEDZ S.A.23.30%6 279
KAZ MINERALS PLC18.18%3 852