Vedanta share price extended losses on a second day after the mining and metals major on Tuesday dealt with twin blows. First, the Madras High Court issued notice to the company on remediation of contaminated sites at the Tuticorin unit.

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Additionally, Vedanta’s listed operating unit Hindustan Zinc postponed a board meeting scheduled on Tuesday to approve an interim dividend, which would have constituted major cash flows for Vedanta.

Vedanta stock fell as much as 2.14 percent to Rs 296.65 during early trade on the BSE on Wednesday.

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After a PIL was filed against Vedanta, the Madras HC issued a notice on remediation of contaminated sites at the Tuticorin facility. The PIL demands Vedanta to remove all contaminated material within Sterlite copper facility.

The firm has five weeks to reply to the notice, and the hearing is set for late September. The company's Tuticorin facility has been closed since 2018 due to pollution concerns.

Also Read: Madras HC issues notice to Vedanta over contamination around controversial Sterlite Copper plant

First Published:Aug 18, 2021 10:48 AM IST