Vedanta shares in focus as Viceroy criticizes AGM, InGovern defends Group structure
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Shares of Anil Agarwal-led Vedanta are expected to remain in focus on Tuesday following fresh criticism from US-based short-seller Viceroy Research regarding the company's annual general meeting (AGM), even as proxy advisory firm InGovern defended Vedanta’s corporate structure. Viceroy Research criticised Vedanta’s recently held AGM, calling it a “stage-managed” event that, according to the firm, neither encouraged nor meaningfully addressed investor questions. The short-seller highlighted that of the roughly 20 callers during the AGM, only three posed actual questions, while the rest reportedly delivered long speeches praising Vedanta chairman Anil Agarwal. Viceroy also noted that one caller who raised questions on topics such as brand fees, capex spending, and related-party transactions appeared to have been included only due to an apparent oversight. Viceroy had previously emphasized that London-based Vedanta Resources, the holding...