The Supreme Court has rejected an appeal by Vedanta Ltd to restart its Sterlite copper smelting unit in Tuticorin, Tamil Nadu, citing “repeated breaches” and “serious environmental violations,” in a blow to the Anil Agarwal-led company.
US-based GQG Partners is in talks to buy a stake in Vedanta. A big block deal worth over Rs 2,600 crore took place in Vedanta. The stake sale could be part of the Anil Agarwal-led mining companys efforts to raise capital to repay debt.
SJVN Ltd, YES Bank, NMDC Ltd, Indian Railway Finance Corporation Ltd (IRFC) and NHPC jumped and were among most active stocks on NSE in terms of volumes.
As per exchange details, around 8.2 crore shares or 2,2 percent equity worth Rs 2,255 crore changed hands. Moneycontrol could not independently identify the buyer.