Vedanta has issued a clarification to stock exchanges, which read as under-

This is a speculative story in media with no contribution from Vedanta Limited. As a Company, we have no role to comment on the court proceedings mentioned in this article. Tuticorin matter is sub?judice and we are pursuing legal remedies as prescribed by law.

However, one Business channel, has made a point to plant illusionary and negative stories against few groups, like UPL, Vedanta, Adani etc., as they can not see other groups rising, Maybe, they have spared TCS, a close competitor in M Cap race to channel's parent. In the past the same channel had patronised ADAG, DHFL, Gitanjali Gems & UB Group, as also, recognised CEOs of ICICI Bank, Axis, Ambuja Cement, GMR & GVK, who are all seen vanished or are tainted now.

Vedanta share price rose from Rs. 255 on 20th July, 21 to Rs. 340 on 16th August, 21, a rise of 33.33% in less than 1 month. This was an obvious reason of stomach ache to channel, hence attack on this stock.

Incidentally, favourites of Channel are Zomato, PVR, Jubilant Food,Bajaj Finance, with Parent RIL etc. which are seen having an irrational fundamentals, ruling at crazy valuations, but with only one common feature - owned by Funds, FIIs and Big Fish.

Message is Loud & Clear.
Quid Pro Quo.
You scratch my back, I scratch yours:)  

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