Supreme Court Clears Reopening Of Vedanta's Copper Smelter, Shares Rise

The state government appealed against the environment court's order last year to set aside Tamil Nadu's order to close the copper smelter permanently.

Supreme Court Clears Reopening Of Vedanta's Copper Smelter, Shares Rise

Vedanta shares rose as much as 1% on Tuesday

The Supreme Court on Tuesday cleared the way for Vedanta to reopen its copper smelter in Tamil Nadu by refusing to stay an order from the country's environmental court, the company's lawyer said.

The state government appealed against the environment court's order in December to set aside Tamil Nadu's order to close the copper smelter permanently.

The smelter was ordered shut by Tamil Nadu over alleged pollution that led to violent protests in May, culminating in police opening fire on demonstrators and killing 13.

Shares in Vedanta closed with gains of 1.1 per cent at Rs 195.60 apiece on the NSE, whose benchmark index Nifty finished 0.3 per cent higher at 10,802.

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