Vedanta rose 4.21% to Rs 237.45 on reports that the Tamil Nadu government has allowed the company's Sterlite Industries plant in Tuticorin, Tamil Nadu to produce oxygen for four months.The media reported that the Tamil Nadu government on Monday allowed Vedanta's sealed Sterlite Industries in Tuticorin to operate for the production of medical oxygen for a four-month period in view of the depleting oxygen reserves amid the massive spread of the coronavirus cases.
The decision was taken during an all-party meeting convened by Tamil Nadu Chief Minister K Palaniswami. While granting the permission, the state government directed the Sterlite plant not to be involved in the production of copper or any other material.