Sterlite Industries Down 4% ~ Smelter Shutdown Worries

Sterlite Industries (India) shares fell sharply on Monday after a copper smelter run by the company in Tamil Nadu was closed after a preliminary inspection by state pollution regulator.

Sterlite Industries shares were down as much as 5 per cent to Rs. 89.50 on the National Stock Exchange in early trading against a 0.5 per cent decline in the broader BSE Metal index.

Sterlite will engage with Tamil Nadu Pollution Control Board to explain the factual position regarding emissions from the unit in Tuticorin, the company said in a statement to the National Stock Exchange. (With inputs from Reuters)

Disclaimer: Ventura Securities Ltd has taken due care and caution in compilation of data for its web blog. The information has been obtained from different sources which it considers reliable. However, Ventura Securities Ltd does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. Ventura Securities Ltd especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its web blog. The information provided herein is just for the knowledge purpose and shouldn’t be construed as investment advice under any circumstances.