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I am sorry for the shareholders here. But Vedanta attitude deserve a punishment. It's a shame it is listed in the UK. Hope the good victors over the evil soon.
Mining group Vedanta 'should be delisted' John McDonnell has called for mining firm Vedanta to be delisted from the London Stock Exchange after 13 people died in violent protests outside the firm's southern Indian copper smelter. http://www.bbc.com/news/business-44256552
UTL correction. https://seekingalpha.com/article/4177146-vedanta-resources-plc-2018-q4-results-earnings-call-slides
The plant has already been shut for more than 50 days and had been ordered to stay closed until at least June 6, pending environmental clearances. https://www.ndtv.com/india-news/tamil-nadu-seeks-permanent-closure-of-vedantas-copper-smelter-say-officials-1857256
Slide pack: hTtps://seekingalpha.com/article/4177146-vedanta-resources-plc-2018-q4-results-earnings-call-slides
"All the best to holders here...." konangi, clearly not what you mean. A very shallow attempt at de-ramping. Just buy in now.
reminds me of the Marikana Massacre which caused Lonmin major problems although in no way comparing operational successes to Lonmins operational failures.
He has an admirable vision to assist in India's self dependency. I don't see VED going anywhere especially with government backing. https://www.livemint.com/Companies/vmlBscQLWXoe0bJLLu9mKN/Anil-Agarwal-wants-to-build-Vedanta-into-giant-producer-of-c.html
Pfft ... Shadow chancellor lol. He's a bit of a has been lefty. Actually, that's a bit too generous, he's pretty much a never been. Idiot tried to stand for Labour leadership but failed as he didn't get enough nominations. Pretty much sums him up in my book. A failure, a Walter Mitty. If the comments about delisting were made by someone credible and actually in a position of power, then that would be of consequence. Anything else is just background noise. Ultimately, VED had nothing to do with the deaths. That's a case for the local authorities to answer, period. The plant will be up and running again very soon I suspect. I personally don't see anything but uplift going forward.
to holders here.... Shadow chancellor says company should be de-listed, which was published after trading hours http://www.bbc.co.uk/news/business-44256552 it's Interesting to see how it opens on Tuesday. Amnesty International said this week that police had "many questions to answer" and "those responsible should be brought to justice". It's not only loss of the plant but human rights commission is going to investigate in this issue and if connection is proven then company would have to pay a lot for it. Another Interesting article states how company bypass rules by bribing politicians https://thewire.in/environment/how-modi-government-helped-vedantas-sterlite-plant-bypass-environmental-norms DYOR...Happy investing...
Don't really see how that equates with VEDs situation. Sure they were protesting against the company site, but the loss of life was not the companies doing. That was the local law enforcement. The buck stops with them.
Anyone remember Bhopal and the gas leak from the US company Union Carbide plant - killed and injured thousands but the Yanks just paid about $300 million fine and walked away. The dead and injured were the very poorest people in the area - just like the VED complexes. Blood money never ever does anyone any good. Regards all
Spot on drusus. Dig deep enough and there's dirt with most companies in most sectors.
Any difference between Vedanta and any big UK companies that sell items to Saudi Arabia? Probably not.
@TheMega1: I am a silent reader in the investment forum and I don't post often. However this one disturbed me a lot. I don't want to be part of a company (as a shareholder ) which bribes and kills people just for profit. I did further research last night and found this article from Reuters https://www.reuters.com/article/us-vedanta-protests-agarwal-analysis/deadly-protests-land-a-blow-to-indian-resources-magnate-agarwals-ambitions-idUSKCN1IO2IL it appears they always had environmental issues(many palces in India, Africa etc).i.e they don't follow any environmental guidelines it seems.... I also read in another article that states that many people in Tuticorin are affected by Cancer and other severe health issues, because of the pollution caused by this plant. Hence people are protesting it heavily. I am investing in stocks to make money but not on corpse of innocent people. I believe I can find better companies out there with good corporate governance https://uk.reuters.com/article/us-vedanta-smelter/indian-state-seeks-permanent-closure-of-vedantas-copper-smelter-officials-idUKKCN1IP1CX Anyhow as per today's RNS the plant is been shutted down, I don't think Indian govt will support to reopen it as general election will be next year unless Vedanda operates without approval (illegally) as mentioned in the last paragraph of Reuters. So for me neither economically nor ethically good place to invest ....DYOR.
Eleven unarmed people have been killed - it is understandable that people are shocked - especially given the surrounding circumstances. Do you want to invest in a company tainted by this?
@konangi what do you want thousands of jobs lost because of riots not caused by the company themselves? That's possibly the biggest copper smelter in the world.
MrMath and drusus, appreciated
20th July is the ex dividend date.If you are on the register on that day you get paid on the 22nd August.
From the RNS "The dividend will be paid out in US dollars on 22 August 2018 to those shareholders on the Register of Members on 20 July 2018." So it's the 20th of July.
The ex div date? Cheers
dear...I'm afraid it's back to...never underestimate the power of ved to disappoint...
Yes, It seems company bribed indian politicans and killed lead protestors as per indian media...So bad to see police is killing people with sniper Gun...loads of youtube vidoes https://www.youtube.com/watch?v=tawuza7RCVc https://www.youtube.com/watch?v=hSehY3X4YD8 I dont see how this company survives with all human violation and corruption practices.
Shame on this company . Lots of lives and families have lost their loved ones in recent killings and ongoing environmental diseases. Pray for the people of Tuticorin.
Looks around 7.50 ish. Should climb before ex divi date in July ned