Vedanta's shares fell 6.5%, investors lost more than 10 thousand crores

 

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Vedanta's shares fell 6.5%, the semiconductor business was heavily cleansed, investors lost more than 10 thousand crores

Vedanta's share price fell more than 6% in Friday's trade. The fall in the stock comes after the company issued a clarification regarding the proposed business of manufacturing semiconductors. Vedanta's share fell 6.5% to Rs 287 in intra-day on BSE. More than Rs 10,000 crore of investors were sunk due to the big fall in Vedanta's stock.

Vedanta said in a regulatory filing on September 15, 2022, the semiconductor will be manufactured by Vedanta's holding company Volcan Investments Limited, not Vedanta Ltd.

Investors have suffered a major setback due to the fall in Vedanta's stocks. His wealth sank more than Rs 10,000 crore. On 15 September 2022, the stock closed at Rs 314.10. The market cap of the company at this price was Rs 1,16,697.82 crore. On 16 September 2022, the stock fell 6.5% to Rs 287. Due to this the market cap of the company decreased by Rs 10,068.48 crore to Rs 1,06,629.34 crore.

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