Shares of Vedanta Ltd dropped nearly 0.50 percent in early trade on June 23, post the dismissal of news reports by the company related to the selling of Sterlite copper plant in Thoothukudi. At 9:24 am the Vedanta Ltd stock was trading 0.37 percent lower at Rs 279.03 on NSE.
Details about the denial
According to a filing with BSE on June 22, Vedanta Ltd has refuted claims made by several media articles of selling Vedanta’s Sterlite copper plant as baseless. The notification further stated that, “In connection with the captioned matter, it has come to our notice that certain sections of the media has carried out the news article that Vedanta Limited is selling the Sterlite Copper Plant, Thoothukudi. The said media articles are wrong, baseless and incorrect and the same is refuted by the Company.”