Why Vedanta group shares are down

Shares in Vedanta group firms – Sterlite Industries, Sesa Goa, and Cairn India – traded lower Wednesday on news that Vedanta Aluminium (VAL) will shut down the 3 million-tonne-per-annum alumina refinery in Lanjigarh.

See http://profit.ndtv.com/news/market/article-why-vedanta-group-shares-are-down-today-310345.

Vedanta Aluminium to temporarily shut alumina refinery

Vedanta Aluminium Ltd, a unit of billionaire Anil Agarwal-controlled Vedanta Group , plans to shut its alumina refinery in eastern Indian from Dec 5 due to shortages of bauxite, a company official said on Thursday.

See http://in.reuters.com/article/2012/09/06/india-vedanta-idINL4E8K61TL20120906.

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