Vedanta, Hindustan Zinc shares slump up to 8% after short-seller Viceroy calls parent structure ‘Ponzi-like’

Vedanta and Hindustan Zinc shares plummeted following a Viceroy Research report alleging financial discrepancies within the Vedanta Group. The report likened Vedanta Resources to a Ponzi scheme, claiming it extracts cash from Vedanta Limited, posing risks to creditors. Viceroy asserts the group's structure is unsustainable and operationally compromised.