Companies◆ Mixed
Setback for Vedanta as Orissa HC rejects old bauxite supply pact
Vedanta moved higher.
· LiveMint Companies
The ruling could sharply raise the cost of bauxite for Vedanta’s aluminium business, putting pressure on a key cost advantage for one of India’s largest producers of the metal.
The analysis
Against that, the stock is -2.8% on the day at ₹254.15, and has returned -5.8% over three months. It sits 68% below its 52-week high, which means a good deal of bad news was already in the price.
Market context
- The company directly in focus is VEDL.