Vedanta shares rise 3%, High Court stays environmental compensation claim

Investing.com -- Shares of Indian mining company Vedanta (NYSE:VEDL) rose by 3% to 412 rupees, marking a gain for the fifth consecutive session.

The company, a conglomerate with interests in oil and metals, reported that the High Court of Orissa has put a hold on an environmental compensation demand of 711.7 million rupees ($8.4 million).

The demand was raised due to an alleged incorrect disposal of fly ash. However, Vedanta stated that it has a "strong case on merits".

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