Dataset : https://github.com/sunnysai12345/News_Summary
Vedanta's chairman Anil Agarwal earlier this week announced the biggest investment of ₹1.54 lakh crore for setting up the country's first-ever semiconductor chip plant in Gujarat. This led to a strong buying on stock exchanges that drove Vedanta to rise nearly 18% this week. However, on the last trading day of the current week, Vedanta shares pulled back and slipped by at least nearly 9% on BSE after the company said, the semiconductor plant project is not under their ambit but will be undertaken by Volcan Investments.On Thursday, in its regulatory filing, Vedanta said, " we reiterate that the proposed business of manufacturing semiconductors is not under Vedanta and we understand that it will be undertaken by the ultimate holding company of Vedanta, Volcan Investments."This week, in a statement, Vedanta said the company signed two Memorandum of Understanding (MoUs) with the Gujarat government to set up a semiconductor fab unit, a display fab unit, and a semiconductor assembling and testing unit in the Ahmedabad district of the state.
Vedanta's chairman Anil Agarwal earlier this week announced the biggest investment of 1.54 lakh crore for setting up the country's first-ever semiconductor chip plant in Gujarat. This led to a strong buying on stock exchanges that drove Vedanta to rise nearly 18% this week. However, on the last trading day of the current week, Vedanta shares pulled back and slipped by at least nearly 9% on BSE.