Vedanta shares drop 6 per cent after protests in Tamil Nadu

On NSE shares of the company dropped 6 per cent to Rs 253.75

On NSE shares of the company dropped 6 per cent to Rs 253.75

Eleven people died as the police opened fire on the protesters and 70 people are injured.

P Mahendran, superintendent of Thoothukudi district police, said 18 officers were also wounded in the clashes.

Angered over not being allowed to take out a rally, the agitators started hurling stones at the security forces and overturned police vehicles.

Reports say that the police had initially tried to control the protesters with tear gas and baton charges as hundreds of protesters defied prohibitory orders on the 100th day of their agitation. But the mob continued to pelt stones and bombs. When they allegedly attacked the District Collectorate, the police resorted to firing. In a video that has surfaced, the police can be seen taking aim with assault rifles, and the audio in the background suggests that they were aiming to kill the unarmed protesters.

At least one person was killed and three were injured in fresh violence in Tamil Nadu's Thoothukudi on Wednesday, local reports said.

Protesters set vehicles on fire and threw stones at police, Palaniswami said in a statement. Smoke rose from several parts of the city. Opposition parties including Pattali Makkal Katchi, Desiya Murpokku Dravida Kazhagam, Congress, and the Makkal Needhi Maiam slammed the violence and police action, while actor Rajinikanth, who is slated to launch his political party, held the government responsible for the deaths.

M.K. Stalin, leader of the main Tamil Nadu opposition party the DMK, said police were guilty of "atrocities".

"Mass Murder of Innocent People", he tweeted Wednesday.

"We must know who ordered this firing. Why were automatic weapons used to disperse the crowd and under what law is this permitted?" These citizens were murdered for protesting against injustice. The death toll has now climbed to 12.

Vedanta, which produces iron ore, copper, aluminum, zinc and oil, said earnings before interest, tax, depreciation and amortization rose 27 percent to $4.1 billion for the year ended March 31, while revenue rose 33 percent $15.4 billion.

The Madras High Court told authorities to hold a "mandatory" public hearing over Vedanta's application for environmental clearance and said a decision on environmental approval would be looked into by "appropriate authorities".

"A recent survey shows that maximum protests happen in Tamil Nadu".

British mining and energy conglomerate Vedanta Resources Plc reported better-than-expected growth in full-year core profit and revenue on Wednesday, driven by stronger commodity prices. The stock had opened at 263 rupees per share.

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