What is in store for Vedanta‘s shareholders?

When it comes to newsflow, it could hardly get worse for Vedanta Resources. The metals and mining conglomerate got hit with bad publicity last week, when police fired on a crowd of protesters at the Sterlite Copper smelting unit in Tuticorin. The plant was already in trouble due to environmental concerns.

Power had been cut off by the TN Pollution Control Board, and the Madras High Court stayed an expansion plan. After the shootings, the TN government has ordered permanent closure. Vedanta says it is studying the order, presumably to challenge it in court. The plant has 450,000 …

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