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Bloomberg Quint

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Vedanta Share Price Tumbles Nearly 8% As Viceroy Research Goes Short On Parent Firm's Debts

  • 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.

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