According to reports, Delaware-based Viceroy Research’s short on UK-based parent company Vedanta Resources has caused Vedanta Ltd.’s stock to drop by nearly 8%. Key highlights:
• Viceroy Research predicts Vedanta Resources to default on debt repayment.
• Allegations of financial unsustainability and operational compromises.
• Vedanta Ltd.’s stock closed 0.83% higher after the initial slump.
The development prompts concerns over short-selling practices and market manipulation. Indian investors and analysts are closely monitoring the situation for potential impacts on the Indian business and stock market.
Source: Business News Today, Latest Finance News | The Hindu