Vedanta shares rise on power arm's contract dispute settlement
Vedanta's stock got a 2.2% boost to an intraday high of ₹461 on Monday, thanks to some good news from its power arm, Talwandi Sabo Power Limited (TSPL).
TSPL finally settled a long-running contract dispute with SEPCO Electric Power Construction Corporation, closing the book on years of disagreements over building a thermal power project.
All pending legal battles and arbitration are now off the table.
TSPL can now focus on running and expanding projects
With these legal headaches out of the way, TSPL can focus on running and expanding its projects without old issues holding it back.
Vedanta says clearing up these legacy problems will help them move forward more smoothly in future ventures.
Just before this announcement, Vedanta's shares had already seen a 3% jump—so investors seem pretty happy about the fresh start.