Page 37 - Vedanta

Wildlife shrinks Vedanta's gold mine in Chattisgarh

The mine is the oldest explored gold deposit in the Central India, having commercial potential

Vedanta announces interim dividend of Rs 6,580 cr; re-appoints CEO till Aug

A week after Hindustan Zinc announced a record dividend of Rs 13,985 crore, another Anil Agarwal group firm Vedanta today announced an interim dividend of Rs 6580 crore and approved the appointment of K Venkataramanan, former MD L&T, as Independent non-executive director besides re-appointing CEO Thomas Albanese till August 2017 .The dividend would also be paid to the Cairn India Limited shareholders, who will become shareholders of the company pursuant to the Vedanta and Cairn India merger, on a record date to be fixed after the scheme becomes effective, Vedanta said in a release.Venkataramanan was CEO & Managing Director, Larsen & Toubro Limited (L&T) from April, 2012 and also served on the L&T Board from May, 1999 until his retirement in September, 2015."I am delighted to welcome KV to our Board. His unparalleled strength and global experience in our sector will support our delivery of the next phase of growth at Vedanta, and I look forward to his significant ..

Anil Agarwal defends Vedanta's move to buy stake in Anglo American

Agarwal's acquisition of shares worth $2.4 billion gives him a 12 per cent stake

CRISIL upgrades outlook on Vedanta's debt to 'positive'

Expected improvement in profitability drives upgradeABHIJIT LELERating agency CRISIL has revised its outlook on debt instruments of Anil-Agarwal controlled Vedanta Ltd to "positive" from "stable" on expected improvement in operating profits in next financial year. The outlook revision reflects expected strong improvement in EBITDA (earnings before interest, tax, depreciation, and amortisation) in fiscal 2018. The improvement is driven by production ramp-up of zinc, aluminium, and iron ore, and better profitability due to operating leverage, and continued focus on reducing cost of production. Additionally, better realisations in zinc will partly offset moderation in cash flow in the oil and gas business compared with that before fiscal 2015. Also, favourable commodity prices will lead to better-than-expected cash flow, CRISIL said in a statement. Consequently, net debt to EBITDA ratio, which increased to 4 times in fiscal 2016, is expected to be about three times in fiscal 2017, in ...

Vedanta's Q3 aluminium revenue up 27% to $532 million

Firm LME prices, volume ramp-up, lower input prices and cost cutting initiatives bolster earnings

Vedanta Group Q3 EBIDTA jumps 79%, revenue rises 26%

The company said results reflect benefits of higher commodity prices and production volumes

Vedanta mines profits in all segments

With realisations firm, higher volumes, cost optimisation and debt reduction are aiding profit growth

Vedanta to invest $1 bn in Jharkhand: Anil Agarwal

The company also plans to set up a 1 million tonne steel plant in the state

Vedanta Q3 PAT jumps over four-fold to Rs 1,866 crore

Anil Agarwal-led Vedanta Ltd today reported a lower-than-expected consolidated net profit of Rs 1,866 crore in the December quarter mainly on the back of higher net sales. The reported bottomline, however, was a more than four-fold jump from Rs 411 crore in same period last year as it hit the highest level in eight quarters.Net sales of the company stood at Rs 20,296 crore in the period under review, up 30 percent from the corresponding period last year as performance of all its businesses remained upbeat. As per Bloombergy estimates, Vendanta's topline was seen at Rs 19,393 crore in the quarter gone by, while its net profit was expected at Rs 1,990 crore.The company's EBITDA jumped 83 percent on a year-on-year basis to Rs 6,002 crore in the period under review on account of higher commodity prices and increased volumes at iron ore due to recommencement of operations, ramp up of volumes and cost efficiencies at the aluminium and power business along with decline in discount to Brent ..

Vedanta moves Delhi HC against retrospective contributions to DMF

Interim relief provided earlier to BALCO, extended till February 14

Vedanta's power sales up 8% on commissioning of new units

Vedanta sold 9,453 million units of commercial power by the end of December

Vedanta's aluminium production up 23% in Apr-Dec 2016

It also improved its alumina output, due to re-commencement of 2nd stream operations at Lanjigarh

Vedanta to weather note ban impact

Vedanta's business divisions are expected to have had higher volumes in the December quarter

Deal sparks hopes for Vedanta's Lanjigarh plant

Vedanta is in crisis over securing raw material ever since Niyamgiri mining project was shut down

Vedanta Resources slapped with $100 million settlement in UK court

It has to pay approximately $103 million to Zambia Consolidated Copper Mines Investments Holdings due to 2013 copper price agreement

Vedanta to cut aluminium making cost

The fall in aluminium making cost was on the back of lowering alumina and coal costs

Vedanta to invest Rs 30,000 crore in Cairn India to ramp up capacity

With this investment, production capacity of Cairn India would go up to 3,50,000 barrel of oil equivalent per day

Vedanta's power units operate at low capacity on weak demand

Vedanta's 600 Mw power unit in Odisha operated at a lower PLF of 50% in July-Sept quarter due to power evacuation constraints

Vedanta suspends work at Bicholim iron ore mine in Goa

The suspension has been in force since October 13 due to the growing labour unrest at the Bicholim mine

Vedanta suspends work at Bicholim iron ore mine in Goa

The suspension is from October 13 at the Bicholim mine, located at village Amona in Bicholim Taluka of north Goa