Vedanta Ltd.'s share price dropped nearly 8% as Viceroy Research turned short on its parent company's debts, deeming it unsustainable with no significant operations of its own.
Viceroy Research criticized Vedanta Resource for extracting cash from Vedanta Ltd., referring to it as a 'dying host'.
The stock price declined to a two-month low of Rs 420.65 per share, later recovering slightly to Rs 438.50 apiece.
Despite the decline, analysts remain divided on Vedanta, with 11 out of 16 maintaining a 'buy' rating, while the average 12-month consensus price target suggests a 19.3% upside.