Page 20 - Vedanta

Top headlines: Modi warns against second Covid-19 wave, speaks to CMs

Business Standard brings you a snapshot of news pieces which made it to the headlines today

Bears rule D-St for 4th day; Sensex tanks 562 pts in broad-based sell-off

All the sectoral indices ended the day in the red with the Nifty Realty, Metal, and PSU Bank indices dropping up to 3 per cent

Vedanta hits 52-week high after promoter raises open offer price

Vedanta Resources Plc has raised the open offer price for buying shares in flagship Indian firm to Rs 235 per share from Rs 160 per share earlier

Billionaire Anil Agarwal sweetens offer for Vedanta Ltd shares by 47%

London-based Vedanta Resources Ltd. will now seek to buy 17.51% of Mumbai-listed Vedanta Ltd. at 235 rupees ($3.24) a share, it said in an exchange filing

Stocks to watch: Vedanta, Tata Communication, SBI Card, BPCL, Magma Fincorp

Infrastructure investment trust IndiGrid said its board of investment managers has approved a proposal to raise up to Rs 5,300 crore, including through term loans and issuance of debentures

Vedanta raises open offer price for Indian unit to Rs 235 per share

Anil Agarwal-led Vedanta Resources Plc on Tuesday raised the open offer price for buying shares in its flagship Indian firm to Rs 235 per share, nearly 4 per cent higher

Top headlines: AstraZeneca says vaccine safe, bank strike hits services

Business Standard brings you top news of the day

Vedanta's dues, rising interest rates sound trouble for Anil Agarwal

Vedanta Resources has $3.3 billion due between April 2021 and September 2022, only 65% of which will be covered by the dividends from its units

Vedanta's mining plant in Goa can't operate sans environment clearance: NGT

The National Green Tribunal has held that Vedanta's mining plant in Dharbandora area in Goa cannot operate without obtaining Environment Clearance (EC)

Will wrap up expansion this month: Cairn Oil & Gas Deputy CEO Prachur Sah

Currently, Cairn Oil & Gas is driving production from the Rajasthan asset and the offshore asset

Bulls back on D-Street; Sensex settles 750 pts up; PSU, auto stocks rally

The advance to decline ratio favoured bulls as nearly 2x stocks rose for every 1 stock that declined on the BSE

Stocks to watch: Affle India, BEML, RIL, auto stocks, RailTel, IOC, Vedanta

Vedanta Resources has raised $1.2 billion in a bond offering that saw strong investor interest

Vedanta Resources raises $1.2 bn ahead of open offer for Indian listed unit

Vedanta Resources on Friday said it has raised USD 1.2 billion in a bond offering that saw strong investor interest. The 8.95 per cent bonds due for March 2025 "will be guaranteed by the company and two wholly-owned indirect subsidiaries of the company, namely Twin Star Holding Ltd and Welter Trading Limited," it said in a statement. Vedanta said it will use the proceeds of the bonds for the acquisition of equity shares of the Indian subsidiary as well as servicing existing debt. The company is looking to buy as many as 37.17 crore or 10 per cent of its India unit, at Rs 160 per share. At that price, the total consideration of the deal would be about Rs 5,948 crore (USD 814 million). Vedanta Resources Finance II Plc, a subsidiary of London-based Vedanta Resources, had gone to the market for raising USD 1 billion. It got USD 2.6 billion in offers from about 150 accounts, representing the largest oversubscription on a recent US dollar bond offering by the company, banking sources ..

Stocks to watch: RIL, Bharat Forge, Vedanta, Airtel, HDFC Bank, Hindalco

RIL, in a late night filing, said that it has begun the process of carving out the O2C business into an independent subsidiary

Base metals stocks shine as supply crunch, EV push lift copper, zinc prices

Shares of firms in this space up 50-198% since November 2020; global demand for copper and aluminium outstrips supply, pushing spot prices higher than futures

Vedanta chief financial officer G R Arun Kumar resigns

Vedanta on Monday said G R Arun Kumar has resigned as chief financial officer (CFO) of the company. The company will announce the effective date of relieving of Kumar and details of the successor in due course, Vedanta Ltd said in a filing to BSE. "The board has taken note of the resignation of GR Arun Kumar from the post of Whole-Time Director & Chief Financial Officer of the company to pursue career outside of the Group," Vedanta said. Kumar has made invaluable contribution towards the company's growth and its transformation journey during his tenure of close to eight years, it added. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading diversified natural resource companies with business operations in India, South Africa, Namibia, and Australia. Vedanta is a leading producer of oil and gas, zinc, lead, silver, copper, iron ore, steel, aluminium and power.

Ind-Ra revises Vedanta's credit outlook to stable from negative

The ratings agency also affirmed the company's long-term issuer rating

Cairn Oil & Gas seeks bids for sale of natural gas from Rajasthan block

Cairn Oil & Gas, Vedanta's oil and gas arm, produces about 3.5 million standard cubic meters per day of gas from its largely oil-bearing block in Rajasthan, the firm said in a notice

Budget-related stocks to watch: PSUs, infra, financials, healthcare

Castrol India, Finolex Industries, Kansai Nerolac Paints and Reliance Capital are among 37 firms set to report their December quarter numbers today

S&P upgrades outlook on Vedanta Resources from 'negative' to 'stable'

Strong operating momentum and sizable free cash flow generation at Vedanta Ltd also improve liquidity at the holding company level