Vedanta hits over 10-month low, tanks 7% in a day after protests in Tamil Nadu

Vedanta share price fell 6 per cent on Monday 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.

Reacting to the news, the stock hit an intraday low of Rs 250.15, down 7.2 per cent on the BSE. The stock settled at Rs 252.70, down 6 per cent.

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 yesterday with agitators fighting pitched battles with police, prompting an open fire.

Meanwhile, The Sensex and Nifty tanked, dragged by energy stocks such as HPCL and ONGC on rising concern that the government may ask state-owned oil firms to share the burden of higher petrol and diesel prices.

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The broader Nifty closed 1.01 per cent or 106 points lower at 10,430.35, while the benchmark Sensex fell 0.88 per cent or 306 points to 34,344.91. Both the indices fell over 1 per cent, extending losses in the last hour of trading.