India's Vedanta (VDAN.NS), opens new tab said on Tuesday that the National Company Law Tribunal has approved its plan to split the oil-to-metals conglomerate into separate listed entities. The company's demerger scheme to split into five different entities was facing pushback from the government as it feared the plan would hinder the state's ability to recover dues from the company.
Shares of Vedanta turned positive after the news to rise 3.5%. They were trading 0.6% lower before.
