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

Shares of VedantaNSE 2.93 % 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 SterliteNSE -0.80 % 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.

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