Vedanta

In the past two months, Vedanta's board has already approved raising up to $300 mn through debentures

Vedanta needs a green light from at least two-thirds of the bondholders in each of the three securities to proceed with the plan. A holder meeting will be held on Jan. 4

In which we munch over the week's platter of news and views

Neither Foxconn nor Vedanta has substantial experience in fab technology, so they need partners

Zinc International loan would require guarantee from Anil Agarwal-promoted group's India-listed firm

BALCO has entered into an agreement with Serentica Renewables India Private Ltd (SRIPL) to set up a special purpose vehicle to source hybrid renewable power for its aluminium operations in Chhattisgarh. Bharat Aluminium Company Ltd (BALCO) is a subsidiary of mining major Vedanta Ltd. "BALCO has entered into a Power Delivery Agreement (PDA) to source 105 MW hybrid renewable power for its aluminium operations at Chhattisgarh, through Special Purpose Vehicle (SPV) i.e. affiliates of SRIPL," Vedanta said in a regulatory filing. The project will be funded on a 70:30 debt to equity basis and BALCO will own 26 per cent equity in the SPV. The hybrid energy project will be built on a captive model and build own operate basis. The term of the PDA will be for a period of 25 years from the date of commissioning of the project. The SPV is expected to start delivering the power within 24 months of the PDA signing. This will be helpful in securing continuous supply of power through renewable en

Mining major Vedanta Ltd on Monday said its aluminium and high refined metal production touched record levels in the last financial year. In a regulatory filing, the company said it posted "highest ever" aluminium production at 22.91 lakh tonnes during 2022-23, marginally up from 22.68 lakh tonnes in the preceding fiscal. Its high refined metal production rose 7 per cent to 10.32 lakh tonnes in the last fiscal. The company had produced 9.67 lakh tonnes of saleable metals, which include refined zinc, refined lead and silver integrated, in 2021-22. The company termed the refined metal production as "historic high" in the last financial year. The production of zinc from international business rose 22 per cent year-on-year to 2.73 lakh tonnes. In the oil & gas business, the company's average gross operated production across assets was at 1,42,615 boepd (barrels of oil equivalent per day). "Production from the Rajasthan block was at 1,19,888 boepd and from the offshore assets was at a

Natural resources group has debt servicing obligations of about $3 bn

A combined 69 million shares, representing 1.86 per cent of total equity of Vedanta, have changed hands on the NSE and BSE so far

Vedanta's Hindustan Zinc Limited (HZL) on Thursday signed an agreement with the Rajasthan Cricket Association (RCA) for the development of the world's third-largest cricket stadium in Chonp village in Jaipur. HZL will spend Rs 300 crore for the stadium, one of the largest corporate investments in India's sports infrastructure. The stadium would be named as Anil Agarwal International Cricket Stadium, Jaipur, a release said. The agreement was signed by Bhawani Shankar Samota, RCA secretary and Arun Misra, CEO Hindustan Zinc, in the presence of assembly speaker and RCA's chief patron C P Joshi and others. The stadium facilities will be spread across 100 acres and have a seating capacity of over 75,000. Joshi said that the investment would accomplish the long felt dream of construction of a modern international cricket stadium at Jaipur. He thanked the company for the support and the agreement for the first phase of the stadium construction. RCA president Vaibhav Gehlot highlighted

Bankers said the group's bonds have been showing volatility since October last year

The change reflects the possibility of higher-than-expected financial leverage and lower financial flexibility with reducing ratio of cash surplus to one-year maturities for FY23 and FY24

CLOSING BELL: Adani Enterprises, Adani Ports, JSW Steel, Eicher Motors, HCL Tech, Bajaj Auto, Ultratech Cement, Tata Motors, and Hero MotorCorp were the large-cap winners

Hindustan Zinc dividend: In FY23 so far, the company has announced a dividend worth Rs 75.5 per share, and out of this, Rs 49.5 per share have already been received by the shareholders

Stocks to Watch: Index heavyweights Reliance and Bharti Airtel will see some action as the former wages a price war in the broadband connection.

Stocks to Watch: Index heavyweights Reliance and Bharti Airtel will see some action as the former wages a price war in the broadband connection.

Dividend pay-out for the year at Rs 37,730 cr, the highest ever by the company

Vedanta Ltd on Tuesday said its board has approved an interim dividend of Rs 7,621 crore for the current financial year. The company has fixed April 7 as record date for the purpose of dividend payment. "The Board of Directors at a meeting held on Tuesday, March 28, 2023 approved the fifth interim dividend of Rs 20.50 per equity share... on face value of Rs 1/per share for the financial year 2022-23 amounting to Rs 7,621 crore," according to a regulatory filing. The board also accepted the resignation of Ajay Goel from the post of Acting Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) effective from the close of business hours on April 9. Details about his successor will be announced in due course, the filing said.

Vedanta dividend 2023: The company has already given four interim dividends totalling Rs 81 so far in the current financial year

Vedanta's quest to raise cash comes during a rocky time for India's business elite. Highly leveraged conglomerates are under increased scrutiny after a short seller accused Gautam Adani