Vedanta, Nalco could change the way aluminium is used
The companies are building industrial parks in Odisha for manufacturers to receive the metal directly from smelters26-12-2017
26-12-2017
Tycoons set to remake India steel as $26 billion battle heats up
Lakshmi Mittal's ArcelorMittal and Anil Agarwal's Vedanta vie for control of Essar Steel India as creditors are seeking the approval of India's new bankruptcy court to sell assets20-12-2017
Outcome of Committee Meeting
Outcome of the Board constituted Committee of Directors Meeting held on December 19, 201719-12-2017
Trading Calls: Buy Axiscades Engineering, Vedanta, Says Expert
Indian stock markets are likely to start Tuesday's session on a flat note.19-12-2017
Vedanta shares rally over 4% on fund rasing plan
Shares of Vedanta climbed after the company proposes to offer non-convertible debentures of Rs 500 crore.15-12-2017
Intimation Of Meeting Of Committee Of Directors, Proposed To Be Held On December 19, 2017 To Consider Offering Of Rated, Secured, Redeemable, Non-Cumulative, Non-Convertible Debentures Aggregating Upto Rs. 500 Crores
We would like to inform you that the Company proposes to offer Rated, Secured, Redeemable, Non-Cumulative, Non-Convertible Debentures aggregating to Rs. 500 crores and in this regard is holding a meeting of its duly constituted Committee of the Board on December 19, 2017. The above issuance is pursuant to the approval of the Shareholders passed vide Special Resolution at the 52nd Annual General Meeting of the Company held on July 14, 2017 and the...14-12-2017
Intimation Of Meeting Of Committee Of Directors, Proposed To Be Held On December 19, 2017 To Consider Offering Of Rated, Secured, Redeemable, Non-Cumulative, Non-Convertible Debentures Aggregating Upto Rs. 500 Crores
We would like to inform you that the Company proposes to offer Rated, Secured, Redeemable, Non-Cumulative, Non-Convertible Debentures aggregating to Rs. 500 crores and in this regard is holding a meeting of its duly constituted Committee of the Board on December 19, 2017. The above issuance is pursuant to the approval of the Shareholders passed vide Special Resolution at the 52nd Annual General Meeting of the Company held on July 14, 2017 and the...14-12-2017
Cut in fees for smelters is a risk for domestic copper producers
In the near-to-medium term, the annual benchmark rates for copper treatment and refining will partly determine how Hindalco Industries and Vedanta's copper divisions perform in FY1912-12-2017
The numbers look good for Vedanta, but is legal trouble brewing?
Moody's in November, upgraded Vedanta Resources plc's corporate family rating to Ba3 from B1. It has also upgraded the company's senior unsecured bond rating to B2 from B3. The ratings agency praised two things: 1) Vedanta has reduced 17% of its debt following its merger with Cairn, and 2) Stabilizing commodity prices are enhancing the company's EBITDA and cash flow generation. Vedanta is also among the stocks in Trendlyne's Best Bargains Screener, indicating its strong numbers. The company is set to overtake the Aditya Birla group as the largest producer of aluminium in the country in the current financial year. However, investors may be wise to keep an eye on the progress of the 600 crore rock phosphate case, in which Vedanta is involved. A counsel in the Rajasthan High Court, A K Jain has now moved the High Court requesting a CBI enquiry. The High Court had earlier in August this year, issued notices to Director General of ACB and state government, asking for updates on the progress of the case. The background of the case goes as such: a rule post independence allowed mines of rock phosphate to be allotted only to state owned companies. The government allotted rock phosphate mines to Hindustan Zinc Limited, which was then a public sector unit. When Vedanta's Sterlite Industries acquired Hindustan Zinc as part of the government's disinvestment drive in 2002, Vedanta got possession of the rock phosphate mines. A preliminary probe found that on November 1, 2006, the government revoked the mining lease granted to HZL post Vedanta's acquisition. The next day, the mines department took possession of the mine. Then the U-turn happened: two years later in October 2008, the department was found to have restored the lease to HZL, “causing the state government a direct loss of over Rs 600 crore” in rock phosphate ore according to the investigation agency's preliminary report. If the court agrees to AK Jain's motion, a CBI inquiry may be initiated on this against Vedanta.08-12-2017
Vedanta oil and gas projects pick up as crude price rises
The recent spurt in global crude oil prices has resulted in Vedanta, the metals and mining major, putting its development and exploration projects on a fast track but issues of cess and higher profit petroleum continue to be a concern.Indian benchmark crude oil touched $61.54 a barrel on Thursday. Speaking to Business Standard, Sudhir Mathur, newly appointed chief executive for the Cairn oil and gas business at Vedanta, said, "We have started investing in a $1-billion programme which we expect to yield about 100,000 barrels of oil in the next 18-20 months. When oil prices go up, it allows us to take more risks. We had earlier decided to work on sweet spots first." Mathur said when oil prices started sliding, it was challenging and industry across the world went into despondency. "We had projects but they were viable at a $70 price. We took a conscious call to bring down our cost to $5-6 (a barrel) and rework the projects. The only project that went on was the Mangala enhanced oil...24-11-2017