Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a> plunge from the 140 sell zone has worked in our favor but now it is time to start looking at lower support levels given we met the 50% retracement at 99.Our recent insight <a href="https://www.smartkarma.com/insights/vedanta-140-barrier-sets-up-a-fade-trade" target="_blank" data-smartkarma-citation="insights:43405" rel="noopener">Vedanta 140 Barrier Sets up a Fade Trade</a> outlined a short bet near 140 with a target of 108 and then 99.Sell volumes are still strong and price action is failing to show a bottom forming which implies we head lower below the 50% retracement handle.RSI is moving into oversold buy territory setting up a tactical bounce trade from the 90 price and retracement support.Macro remains bearish given the high degree of divergence noted in the MACD and calls for shorting a recovery attempt for an assault on the lower support levels.

Vedanta Ltd (VEDL IN) plunge from the 140 sell zone has worked in our favor but now it is time to start looking at lower support levels given we met the 50% retracement at 99.Our recent insight Vedanta 140 Barrier Sets up a Fade Trade outlined a short bet near 140 with a target of 108 and then 99.Sell volumes are still strong and price action is failing to show a bottom forming which implies we head lower below the 50% retracement handle.RSI is moving into oversold buy territory setting up a tactical bounce trade from the 90 price and retracement support.Macro remains bearish given the high degree of divergence noted in the MACD and calls for shorting a recovery attempt for an assault on the lower support levels.

Vedanta - Short Target Met for Tactical Bounce and Then Lower

Forensic Analyst, Trudence Capital Advisors

Nitin Mangal

Forensic Analyst

<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a>'s delisting has been one of the hot topics for the last couple of weeks given it approached the timeline for the reverse book building issue that was approved by its shareholders. However, the delisting event has deemed to have been failed according to the announcement filed by the company on October 10th. As a result, the stock had crashed by over 20% on Monday.This insight does not engage in the technicalities of the delisting, but rather we try to dwell on the increasing visibility of the shareholder activism in the country, one of the factors opposing the delisting in the first place.

Vedanta Ltd (VEDL IN)'s delisting has been one of the hot topics for the last couple of weeks given it approached the timeline for the reverse book building issue that was approved by its shareholders. However, the delisting event has deemed to have been failed according to the announcement filed by the company on October 10th. As a result, the stock had crashed by over 20% on Monday.This insight does not engage in the technicalities of the delisting, but rather we try to dwell on the increasing visibility of the shareholder activism in the country, one of the factors opposing the delisting in the first place.

Vedanta Delisting Failure: The Upsurge of Shareholder Activism in India?

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Bottom-Up

The <a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a> Delisting Reverse Book Build Auction failed on Friday 9 October as <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/172a3c4a-d43e-455e-ab32-24995981d75b.pdf" target="_blank" rel="noopener">confirmed</a> on the 10th. Most institutional investors got their shares back today and were able to sell. 
Today, the stock traded HUGE volume at 145mm shares on NSE and 8.8mm shares on BSE which was just a tough less than traded Friday the 9th (trading which if it hadn't happened might have resulted in the Offer having found a Discovered Price). 
There is a fair bit of data out there if you know where to look, and reading between the lines. This insight goes through a few of the ways to figure out from publicly available data what is going on.
Interestingly, the nature of the conclusions of this insight actually changed intraday. 
More below the fold.

The Vedanta Ltd (VEDL IN) Delisting Reverse Book Build Auction failed on Friday 9 October as confirmed on the 10th. Most institutional investors got their shares back today and were able to sell. 
Today, the stock traded HUGE volume at 145mm shares on NSE and 8.8mm shares on BSE which was just a tough less than traded Friday the 9th (trading which if it hadn't happened might have resulted in the Offer having found a Discovered Price). 
There is a fair bit of data out there if you know where to look, and reading between the lines. This insight goes through a few of the ways to figure out from publicly available data what is going on.
Interestingly, the nature of the conclusions of this insight actually changed intraday. 
More below the fold. 

VEDL Delisting Fail Day1 - Reading Between the Lines of the Trading Data

Event-Driven

Late Saturday night <a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a> released an <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/172a3c4a-d43e-455e-ab32-24995981d75b.pdf" target="_blank" rel="noopener">announcement</a> to the BSE and NSE that the biggest Delisting Offer in Indian history had failed. <figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/164/534/original/Screenshot%202020-10-11%20at%202.17.10%20PM.png?1602397079" class="editor-image img-responsive" data-smartkarma-image-id="164534"></figure>Regulation 19 (1) of the Delisting Regulations noted above is that either they did not get enough shares, or the Promoter got enough shares and rejected the price. In this case, as the next page of the announcement shows, they did not get enough shares. The required number of shares to reach 90% to trigger a Discovered Price was 1.341bn but the number of confirmed bid shares submitted was 1.2547bn shares. An additional 123.19mm shares had been submitted, taking the total to 1.378bn, which would have passed the hurdle, but those shares were not confirmed by bankers and custodians before the deadline. It was reported that the bankers DAM Capital and JP Morgan were seeking to extend the Delisting Offer for an extra day because of both the BSE outage Friday and the matter of some brokers only allowing bids at the Floor Price (<a href="https://www.bseindia.com/xml-data/corpfiling/AttachHis/a5442d38-c0e2-49d9-9080-9adde2d9a28f.pdf" target="_blank" rel="noopener">reported</a> Thursday). The BSE had already extended the hours of the Delisting Offer to 7pm Indian Standard Time, and this was seen to be helping. Apparently the bankers were not successful at the time. This will likely cause an unwind. This will hurt the price.<h3>But wait...</h3>An article put out by PTI (Press Trust of India) and syndicated across <a href="https://www.news18.com/news/business/vedanta-delisting-fails-forcing-company-to-seek-extension-of-buyback-period-2951678.html" target="_blank" rel="noopener">several</a><a href="https://www.outlookindia.com/newsscroll/vedanta-delisting-fails-co-seeks-extension-of-buyback-period/1953293" target="_blank" rel="noopener">newspapers</a> has a quote saying...<blockquote>Sources privy to the development said Vedanta is now exploring with regulatory authorities if the reverse book building period could be extended by one day.</blockquote>There is still a chance, and while I thought VEDR should have had the extra day, I do not know that SEBI will give them the extra day now that the result has been announced. I would be surprised if they get the extra day.More about the size of the unwind, the "fair" price vs comps, and possible mitigants below the fold.<hr><div>Insights previously published in the timeline of the Vedanta Delisting Offer are listed below.</div><div><table class="table table-striped"><tbody>
<tr><td colspan="3" style="width: 723.636px;"><h3>Relevant Insights To Date</h3></td></tr>
<tr>
<td style="width: 71.8182px;">Date</td>
<td style="width: 133.636px;">Theme or Ticker</td>
<td style="width: 476.364px;">Insight Title</td>
</tr>
<tr>
<td style="width: 71.8182px;">2019</td>
<td style="width: 133.636px;">Indian M&amp;A Guide</td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/quiddity-india-m-a-guide-2019" target="_blank" data-smartkarma-citation="insights:30885" rel="noopener">Quiddity India M&amp;A Guide 2019</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">24 May 2020</td>
<td style="width: 133.636px;">Delisting Offers</td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/indian-delisting-exit-offers-know-your-process-and-the-games-played" target="_blank" data-smartkarma-citation="insights:39683" rel="noopener">Indian Delisting/Exit Offers - Know Your Process and The Games Played</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">19 Jun 2020</td>
<td style="width: 133.636px;">Failed Exit Offers</td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/failed-exit-offers-in-india-lessons-for-vedl-adani-and-hexw" target="_blank" data-smartkarma-citation="insights:40492" rel="noopener">Failed Exit Offers in India: Lessons for VEDL, ADANI, and HEXW?</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">27 May 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/vedanta-delisting-offer-how-it-goes-from-here" target="_blank" data-smartkarma-citation="insights:39761" rel="noopener">Vedanta Delisting Offer - How It Goes From Here</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">22 Jun 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/vedanta-delisting-offer-opportunities-and-timing" target="_blank" data-smartkarma-citation="insights:40528" rel="noopener">Vedanta Delisting Offer: Opportunities and Timing</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">25 Jun 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/vedanta-buyout-loan-huge-hindustan-zinc-div-but-may-change-vedanta-rbb-timing" target="_blank" data-smartkarma-citation="insights:40653" rel="noopener">Vedanta Buyout Loan = HUGE Hindustan Zinc Div But May Change Vedanta RBB Timing</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">14 Jul 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/putting-sightlines-on-the-vedanta-discovered-price" target="_blank" data-smartkarma-citation="insights:41236" rel="noopener">Putting Sightlines on the Vedanta Discovered Price</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">18 Aug 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/putting-sightlines-on-the-vedanta-delisting-offer-timing" target="_blank" data-smartkarma-citation="insights:42260" rel="noopener">Putting Sightlines on the Vedanta Delisting Offer TIMING</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">7 Sep 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/vedanta-reaching-the-end-game" target="_blank" data-smartkarma-citation="insights:42969" rel="noopener">Vedanta: Reaching The End Game</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">17 Sep 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/vedanta-more-fuel-for-the-fire" target="_blank" data-smartkarma-citation="insights:43316" rel="noopener">Vedanta : More Fuel For The Fire</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">21 Sep 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/vedanta-vedl-cash-raised-money-flow-and-how-it-affects-delisting-offer-discovered-price" target="_blank" data-smartkarma-citation="insights:43429" rel="noopener">Vedanta (VEDL): Cash Raised, Money Flow, and How It Affects Discovered Price</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">29 Sep 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/vedanta-reverse-book-build-auction-it-s-on-and-the-schedule-from-here-is-tight" target="_blank" data-smartkarma-citation="insights:43694" rel="noopener">Vedanta Reverse Book Build Auction - It’s On And the Schedule From Here Is Tight</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">4 Oct 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/vedanta-limited-reports-results-key-info-on-deal-funding-embedded" target="_blank" data-smartkarma-citation="insights:43839" rel="noopener">Vedanta Limited Reports Results: KEY Info on Deal Funding Embedded</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">8 Oct 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/vedanta-selldown-probably-futures" target="_blank" data-smartkarma-citation="insights:43956" rel="noopener">Vedanta SellDown - Probably Futures</a> </td>
</tr>
<tr>
<td style="width: 71.8182px;">9 Oct 2020</td>
<td style="width: 133.636px;">
<a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd</a> </td>
<td style="width: 476.364px;">
<a href="https://www.smartkarma.com/insights/vedanta-someone-is-playing-silly-buggers-but-even-on-the-last-day-investor-strategy-matters" target="_blank" data-smartkarma-citation="insights:43991" rel="noopener">Vedanta - Someone Is Playing Silly Buggers But Even On The Last Day Investor Strategy Matters</a> </td>
</tr>
</tbody></table></div>

Late Saturday night Vedanta Ltd (VEDL IN) released an announcement to the BSE and NSE that the biggest Delisting Offer in Indian history had failed. Regulation 19 (1) of the Delisting Regulations noted above is that either they did not get enough shares, or the Promoter got enough shares and rejected the price. In this case, as the next page of the announcement shows, they did not get enough shares. The required number of shares to reach 90% to trigger a Discovered Price was 1.341bn but the number of confirmed bid shares submitted was 1.2547bn shares. An additional 123.19mm shares had been submitted, taking the total to 1.378bn, which would have passed the hurdle, but those shares were not confirmed by bankers and custodians before the deadline. It was reported that the bankers DAM Capital and JP Morgan were seeking to extend the Delisting Offer for an extra day because of both the BSE outage Friday and the matter of some brokers only allowing bids at the Floor Price (reported Thursday). The BSE had already extended the hours of the Delisting Offer to 7pm Indian Standard Time, and this was seen to be helping. Apparently the bankers were not successful at the time. This will likely cause an unwind. This will hurt the price.But wait...An article put out by PTI (Press Trust of India) and syndicated across severalnewspapers has a quote saying...Sources privy to the development said Vedanta is now exploring with regulatory authorities if the reverse book building period could be extended by one day.There is still a chance, and while I thought VEDR should have had the extra day, I do not know that SEBI will give them the extra day now that the result has been announced. I would be surprised if they get the extra day.More about the size of the unwind, the "fair" price vs comps, and possible mitigants below the fold.Insights previously published in the timeline of the Vedanta Delisting Offer are listed below.
Relevant Insights To Date

Date
Theme or Ticker
Insight Title


2019
Indian M&amp;A Guide

Quiddity India M&amp;A Guide 2019 


24 May 2020
Delisting Offers

Indian Delisting/Exit Offers - Know Your Process and The Games Played 


19 Jun 2020
Failed Exit Offers

Failed Exit Offers in India: Lessons for VEDL, ADANI, and HEXW? 


27 May 2020

Vedanta Ltd 

Vedanta Delisting Offer - How It Goes From Here 


22 Jun 2020

Vedanta Ltd 

Vedanta Delisting Offer: Opportunities and Timing 


25 Jun 2020

Vedanta Ltd 

Vedanta Buyout Loan = HUGE Hindustan Zinc Div But May Change Vedanta RBB Timing 


14 Jul 2020

Vedanta Ltd 

Putting Sightlines on the Vedanta Discovered Price 


18 Aug 2020

Vedanta Ltd 

Putting Sightlines on the Vedanta Delisting Offer TIMING 


7 Sep 2020

Vedanta Ltd 

Vedanta: Reaching The End Game 


17 Sep 2020

Vedanta Ltd 

Vedanta : More Fuel For The Fire 


21 Sep 2020

Vedanta Ltd 

Vedanta (VEDL): Cash Raised, Money Flow, and How It Affects Discovered Price 


29 Sep 2020

Vedanta Ltd 

Vedanta Reverse Book Build Auction - It’s On And the Schedule From Here Is Tight 


4 Oct 2020

Vedanta Ltd 

Vedanta Limited Reports Results: KEY Info on Deal Funding Embedded 


8 Oct 2020

Vedanta Ltd 

Vedanta SellDown - Probably Futures 


9 Oct 2020

Vedanta Ltd 

Vedanta - Someone Is Playing Silly Buggers But Even On The Last Day Investor Strategy Matters 



Vedanta Delisting Proposal/Offer Fails (We Think)

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Late last evening, <a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a> in an <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/172a3c4a-d43e-455e-ab32-24995981d75b.pdf" target="_blank" rel="noopener">announcement</a> to the Stock Exchanges said that its promoter <a href="https://www.smartkarma.com/entities/vedanta-resources-limited" target="_blank" data-smartkarma-citation="entities:22202:1" rel="noopener">Vedanta Resources (VED LN)</a> had informed them that the Delisting Offer was deemed to have failed.With just over 1.34bn shares needing to be tendered in the Reverse Book Building (RBB) process for the Promoters to reach a 90% shareholding, there were almost 1.378bn shares tendered. However, the number of confirmed shares was only 1.255bn which meant that the 90% threshold was not reached.With the delisting having failed, shares that were tendered in the RBB process need to be returned within 10 working days. The stock will come under pressure on Monday with a final selloff once the locked up shares are released. With the futures in ban period, it is extremely difficult for investors to hedge their position.The ADR <a href="https://www.smartkarma.com/entities/sesa-sterlite-ltd-adr" target="_blank" data-smartkarma-citation="entities:10972:1" rel="noopener">Vedanta Ltd (VEDL US)</a> had closed 7.74% lower on Friday, implying a local price of INR 109/share versus a close of INR 121.85/share on <a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a> on Friday.In his Insight, we look at the numbers from the RBB process and try to figure out why the Delisting failed and what it could mean for the stock and <a href="https://www.smartkarma.com/entities/vedanta-resources-limited" target="_blank" data-smartkarma-citation="entities:22202:1" rel="noopener">Vedanta Resources (VED LN)</a> going forward.

Late last evening, Vedanta Ltd (VEDL IN) in an announcement to the Stock Exchanges said that its promoter Vedanta Resources (VED LN) had informed them that the Delisting Offer was deemed to have failed.With just over 1.34bn shares needing to be tendered in the Reverse Book Building (RBB) process for the Promoters to reach a 90% shareholding, there were almost 1.378bn shares tendered. However, the number of confirmed shares was only 1.255bn which meant that the 90% threshold was not reached.With the delisting having failed, shares that were tendered in the RBB process need to be returned within 10 working days. The stock will come under pressure on Monday with a final selloff once the locked up shares are released. With the futures in ban period, it is extremely difficult for investors to hedge their position.The ADR Vedanta Ltd (VEDL US) had closed 7.74% lower on Friday, implying a local price of INR 109/share versus a close of INR 121.85/share on Vedanta Ltd (VEDL IN) on Friday.In his Insight, we look at the numbers from the RBB process and try to figure out why the Delisting failed and what it could mean for the stock and Vedanta Resources (VED LN) going forward.

Vedanta (VEDL IN): A Failed Delisting Will Now Pressure The Stock

India

Vedanta Limited is a leading global producer of metals, critical minerals, oil and gas, and technology. The company explores, extracts, and processes a diversified portfolio of resources including zinc, aluminum, copper, iron ore, and oil and gas. Vedanta Limited is headquartered in Mumbai, India, and was founded in 1979.

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Vedanta (VEDL US)

Vedanta - Short Target Met for Tactical Bounce and Then Lower

140 short call working well post trendline break on high sell volume, but setting up for a tactical bounce (trade 1) into fresh short territory...

Thomas Schroeder

Vedanta Delisting Failure: The Upsurge of Shareholder Activism in India?

Vedanta's delisting failure has led us to believe that shareholder activism, which was once muted, has taken an emerging path in India. We also...

Nitin Mangal

VEDL Delisting Fail Day1 - Reading Between the Lines of the Trading Data

The Vedanta (VEDL) Delisting Offer has failed and some Event Traders are selling down quickly. One can read between the lines of the trading data...

Travis Lundy

Vedanta Delisting Proposal/Offer Fails (We Think)

Late Saturday night Vedanta Ltd (VEDL IN)

Travis Lundy

Vedanta (VEDL IN): A Failed Delisting Will Now Pressure The Stock

With the Vedanta Delisting Offer having failed, we take a look at why it failed and what it could mean for the stock going forward.

Brian Freitas

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