Page 32 - Vedanta

Supreme Court refuses to stay NGT order to re-open Vedanta's Sterlite Unit

The plant has been closed since March 27, initially for maintenance and later due to the state pollution control board's refusal to give its consent to operate

Vedanta plans $300 mn capex on Lanjigarh alumina refinery in FY20

Vedanta hopes to recover the invested sum within two years, banking on locally sourced bauxite to trim logistics costs

Internal accruals to fund $8-bn investment in various verticals: Vedanta

On a consolidated basis, for the fiscal year ended March 31, 2018, Vedanta had cash reserves of Rs 631.36 billion (approximately $9.03 billion)

Vedanta Resources draws up $4-billion plan for Electrosteel Steels

Besides its plans to turn Electrosteel into a 7 mtpa mega-steel project, Vedanta Resources will significantly scale up its oil and gas portfolio at an investment of $ 4-5 billion

After acquiring ESL, Vedanta to set up $4-bn steel plant in Jharkhand

Vedanta would initially invest about $300 million to augment the capacity of ESL to 2.5 MT from the existing 1.5 MT

CBI initiates probe in anti-sterlite clashes that killed 13 people in TN

Following the court's order, CBI registered a case against Tamil Nadu Police and Revenue Department officials on November 29

Vedanta gains 6% after NGT orders reopening of Sterlite copper plant

The stock was up 6% to Rs 214 on the BSE in early morning trade after the National Green Tribunal ordered reopening of the company's copper plant.

Environment court sets aside TN govt's order to shut down Vedanta smelter

The court directed the Tamil Nadu state pollution regulator to pass a fresh order of renewal of consent for Vedanta's copper smelter within three weeks

Court expected to reopen Vedanta smelter but appeal likely by TN govt

Vedanta said it could not comment on the case because the matter is sub judice

Delhi HC turns down Vedanta plea to export excess crude from Barmer

In 2016, the court had rejected Cairn's plea stating that the company would get the right to seek permission to export its share of excess crude from Barmer only after the country was self-sufficient

I-T department sells Cairn Energy's shares in Vedanta to recover tax

Cairn Energy held a 4.95 per cent stake in mining major Vedanta, which the I-T department had attached after issuing a Rs 102.47 bn tax demand in 2014 on alleged capital gains

Vedanta sells copper concentrate from stockpiles at Sterlite smelter

Tamil Nadu disconnected the smelter's power supply in May following anti-pollution protests that turned violent

Vedanta to ramp up Lanjigarh alumina refinery to 4 mtpa by March 2020

Vedanta lacks captive bauxite resources, unlike its peers

Vedanta's commercial power sales up 19% on electricity demand revival

Vedanta's coal-fired generating unit at Jharsuguda of 600 Mw and Hindustan Zinc Ltd's unit were the key drivers of power sales

Vedanta's earnings disappointment a blip, analysts see better days ahead

The September quarter results at Vedanta, the natural resources major, had disappointed the market. Yet, its share price closed with a gain of 0.8 per cent on Thursday -- the results were declared on Wednesday after market hours. One reason could also be that the stock had corrected sharply from its January high of Rs 350, to Rs 210. Analysts say that with the high dividend payout (Rs 17 a share) and with the outlook improving, there could be more gains ahead.Even as revenues were supported by the aluminium and oil & gas businesses, lower zinc volumes and high production costs in both zinc and aluminium took a toll on profit, which fell 46 per cent year-on-year. Zinc India, represented by listed subsidiary Hindustan Zinc, contributed a fifth to the consolidated numbers. Last week, it had reported lower revenue and profit, on the back of softer prices and output. A rise in Zinc International's cost of production proved a further drag.Aluminium (a third of consolidated financials) ..

Finance Ministry starts cost audit of Vedanta's $800-900-mn Barmer pipeline

The petroleum and natural gas ministry recently gave Vedanta a 10-year extension to the PSC

Vedanta moves Delhi HC against Centre's notice to OMCs on oil sale proceeds

The judge asked the Centre to deposit in court $10.72 million, the upcoming payments due to Vedanta from OMCs between October 30 and November 1

Anil Agarwal's Vedanta, VTB Bank of Russia not out of Essar Steel race

ArcelorMittal has already paid an additional Rs 75 billion to banks to become eligible to bid for Essar Steel

Anil Agarwal's Vedanta firms up shale play, to start exploration soon

The company will kick off the initial testing for shale by December

Vedanta plans to go big on power but rules out entry into retailing biz

The group is looking to invest $8 billion in various businesses. Of that, $2.5 billion will be in oil