Shares of Vedanta Limited dropped 6 per cent to Rs 120.20 on the BSE after the Madras High Court refused to allow reopening of Sterlite copper smelting plant in Tamil Nadu's Thoothukudi. The High Court upheld the Tamil Nadu government's order of May 2018, which directed the closure of Vedanta's facility. The judgment was pronounced on August 18 by a Division Bench of Justices TS Sivagnananam and Bhuvani Subbaroyan. Vedanta Limited had moved the court challenging the state government's closure order against its Sterlite Copper Plant on May 28, 2018. The Thoothukudi Sterlite copper smelting plant remains shut since April 9, 2018, after the Tamil Nadu Pollution Control Board (TNPCB), through an order dated April 9, 2018, rejected the Consent to Operate (CTO) for the plant and issued a direction for closure and disconnection of power supply at the plant. 13 people were allegedly shot dead by the police on May 22, 2018 during a protest against the plant.
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