Market experts say the stock had seen good gains in the past two months and touched Rs 140 levels in expectation of the delisting going through at Rs 170-plus per share
Berger Paints has resumed the uptrend and is currently trading at its record high. Indications are in the favor of prevailing momentum to extend upside further
Vedanta's Hindustan Zinc, also Asia's most valuable zinc producer, reported a 23% drop in June-quarter profit on lower prices and production
Firm raises Rs 3,520 cr despite firm being cash surplus; It cannot use the proceeds directly for parent company
The stock, which jumped 7 per cent to Rs 222.75 during the day on the BSE, later pared some of the gains and settled at Rs 212.55, up 2.16 per cent
It added that the fundraising would aggregate up to Rs 4,000 crore, including the option to retain oversubscription of up to Rs 1,000 crore.
The approval on the same was given during the meeting of the committee of directors held on Tuesday, HZL said in a filing to the BSE
The company proposes to offer rated, unsecured, redeemable, non-cumulative, non-convertible debentures aggregating up to Rs 4,000 crores in one or more tranches, HZL said
The fund will also target companies restructuring under India's bankruptcy regime, the people said
"As India is on its way to large-scale infrastructure expansions, use of galvanised steel in construction is set to rise," Hindustan Zinc CEO Arun Mishra said
We were able to ramp up and May-June turned out to be very good months compared to last year, or the year before that, says Misra
Anjani K Agarwal was a senior partner at EY till 2019; Akhilesh Joshi was former CEO at Hindustan Zinc
Analysts at HSBC, not expecting zinc prices to cross $2,200 in the foreseeable future, have reiterated "hold" rating given potential for volume growth and high dividend yield
With volume growth expected to be soft in FY21, higher base metal prices are crucial for upgrades
He succeeds Sunil Duggal, who is now leading the group company, Vedanta Limited, as its chief executive officer.
In the past decade, total market cap of top 17 PSUs has dropped 41% vis-a-vis a 91% rise in Sensex
After hitting multi-year lows, metal prices have seen some gains. Though lower input costs are supportive, demand is the crucial missing piece
On the operating front, while lower zinc and lead realisations impacted profit, cost of production in the zinc business, too, jumped 7 per cent year-on-year
Offer price of Rs 87.5 akin to "questioning wisdom of investor", says governance firm.
Mine digitization to lower cost of production by 10%; Co looking to cut cost of production to $900 per tonne from $1,077 per tonne now