The Economic Times daily newspaper is available online now.

    Vedanta shares rally over 4% after NGT sets aside TN govt order

    Synopsis

    The scrip was trading 4.22 per cent up at Rs 209.70 at around 9.30 am.

    ETMarkets.com
    Shares of Vedanta rallied over 4 per cent in early trade on Monday after the National Green Tribunal (NGT) on Saturday set aside the Tamil Nadu government order for closure of mining company Vedanta Ltd's Sterlite Copper plant at Tuticorin.

    The scrip was trading 4.22 per cent up at Rs 209.70 at around 9.30 am (IST), while the BSE Sensex was up 0.60 per cent at 36,178.56 at around the same time.

    In a BSE filing, Vedanta said, “We wish to inform that the National Green Tribunal vide its order dated December 15, 2018 has allowed us to resume operations of our Copper Smelter at Thoothukudi and directed the Tamil Nadu Pollution Control Board (TNPCB) to pass fresh order of renewal of consent and restoration of electricity supply for our operations within 3 weeks from the date of the order.”

    “We will study the order in detail and shall take all the steps required to restart the operations as per guidelines given by the Honourable Court,” it added.

    In May, Vedanta's Sterilte Copper had to close the smelter plant following the state government order. The company had challenged the order in the NGT.



    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in