Page 9 - Vedanta

Hindustan Zinc gets nod to set up 30 KTPA plant to produce zinc alloys

The move will make way for the production of value-added zinc alloy products and enable the company to deliver international quality products in the domestic market

Anil Agarwal-led Vedanta to bring into operation two coal blocks in FY23

Billionaire Anil Agarwal-led Vedanta expects to bring into operation two coal blocks in Odisha in this fiscal and is working out a plan to fast-track the operationalisation of another coal mine in the eastern state. Vedanta is focusing on the long-term security of coal especially when thermal power plants and the non-regulated sector have witnessed supply shortages in the current and the last year. "We intend to operationalise Jamkhani and Radhikapur (West) (coal blocks....," Vedanta said in its integrated report and annual accounts 2021-22. Vedanta Limited is one of the world's leading oil & gas and metals company with significant operations in oil & gas, zinc, lead, silver, copper, iron ore, steel, and aluminium & power across India, South Africa and Namibia. The company bagged the Jamkhani coal block in 2019 and the Radhikapur West coal block in 2020 in auctions. Jamkhani coal block is in proximity to the company's Jharsuguda aluminium smelter. It is one of the most ...

Vedanta Resources' near-term liquidity risk as it seeks funds: S&P

Anil Agarwal-controlled unit looks to raise $700 mn from Indian lenders

Hindustan Zinc to pay Rs 21 per share dividend, outflow at Rs 8,873 cr

July 21 set as record date for payout; stock up 1.44% on BSE

Reconsider Cairn UK's complaint against Vedanta: SAT to Sebi

The tribunal has asked Sebi probe the violations and "take it to its logical conclusion within six months from today"

Vedanta acquires debt ridden Athena Chhattisgarh Power for Rs 565 cr

According to Vedanta, the deal will be completed in the current financial year, fulfilling its power requirement for its aluminium business

Vedanta to buy Athena Chhattisgarh Power for Rs 564 crore

Vedanta Ltd on Thursday said it will acquire debt-ridden Athena Chhattisgarh Power Ltd for Rs 564.67 crore. Liquidation process for the company was initiated in March last year. The acquisition for a purchase price of Rs 564.67 crore is likely to be completed in the ongoing financial year, adding that the consideration will be in the form of cash. "Vedanta Limited to acquire 100 per cent of the paid-up capital of Athena Chhattisgarh Power Ltd," the metals and mining major said in a filing to BSE. The acquisition will fulfill the power requirement for Vedanta aluminium business and through vertical integration, add synergies by providing a cost advantage pertaining to power consumption. Athena Chhattisgarh Power Ltd has a 1,200 MW coal-based power plant located at Jhanjgir Champa district in Chhattisgarh. Athena was admitted under Corporate Insolvency Resolution Process on May 15, 2019. On May 13 last year, a bench of NCLT Hyderabad directed initiation of the liquidation process

Three companies planning chip units close in on technology partners

Sources say that while Intel has ratified the deal, it cannot commit itself on paper until all legal approvals for the acquisition are completed

Sensex falls 732 pts from day's high, ends 100 pts down; Rupee at new low

Stock market LIVE updates: As of 7:28 AM, the SGX Nifty Futures quoted 15,881 levels, hinting an upside of 46-odd points on the Nifty50.

Vedanta aluminium output rises by 3% to 565,000 tonnes in Apr-Jun

Mining giant Vedanta Ltd on Monday reported a 3 per cent increase in its aluminium production to 5,65,000 tonnes in the April-June quarter of the ongoing fiscal. The company had produced 5,49,000 tonnes of aluminium in the corresponding quarter of the previous fiscal, Vedanta Ltd said in a filing to BSE. Mined metal production at Zinc India increased by 14 per cent to 2,52,000 tonnes due to higher ore production across all the mines and supported by better mill recovery. The production of saleable iron ore in Karnataka in the first quarter declined by 14 per cent to 1.26 million tonnes over 1.46 MT on account of heavy rainfall which impacted ore handling. The company's total production of saleable steel declined by 7 per cent to 2,69,000 tonnes over 2,89,000 tonnes in the year-ago period. It achieved 14 per cent rise in ore production to 1,40,000 tonnes in the Q1 FY'23, over the corresponding quarter of previous fiscal. With regard to copper, Vedanta said, "Our Silvassa refinery

Vedanta, 30 other companies submit bids in commercial coal mines auctions

The government on Tuesday said 31 companies, including JSW Steel, Vedanta Ltd, NLC India Ltd, Jindal Power and Bharat Aluminium Company Ltd, have submitted bids for 24 mines under commercial coal mines auctions. As many as 38 online and offline bids were submitted during the three rounds of auctions. "A total of 31 companies have submitted their bids (both online and offline) in the auction process," the coal ministry said in a statement. JSW Steel, Vedanta Ltd, NLC India Ltd, Jindal Power and Bharat Aluminium Company Ltd have submitted the bids. Others companies that have submitted the bids include Birla Corporation Ltd, Jaiprakash Power Ventures Ltd, Rungta Metals Private Ltd and Godavari Power & Ispat Ltd. The auction process for 122 coal/lignite mines was launched in March. The last date of submission of technical bids was June 27, 2022, except for 10 mines. Those 10 mines comprise Parbatpur Central coal mine and 9 lignite mines. "As part of the auction process, technical bids

Vedanta Resources urges Zambia to halt search for new KCM investor

Zambia's previous government put KCM in the hands of a liquidator in May 2019, triggering the ongoing legal dispute with Vedanta Resources, KCM's parent company.

Top headlines: GST Council meet to begin today, Vedanta turns to LIC & more

The two-day Goods and Services Tax (GST) Council meeting, which begins today in Chandigarh, is likely to be action-packed

Vedanta turns to LIC for Rs 5,000 cr as offshore borrowing gets costlier

Fund to be raised via 10-yr bonds; another Rs 2K cr to come via 18-month papers

Jaguar parent Tata Motors' bond sinks as weak rupee blights India credit

Those drops coincide with the rupee touching its lowest against the dollar, making it more expensive for the Indian companies already facing the challenge of higher interest rates

PM Modi meets Foxconn chief, hails manufacturing plans for India

Foxconn's EV manufacturing arm, Foxtron, is planning to set up manufacturing plants at various locations in southeast Asia, including India

Belgian research group to help firms planning Indian semiconductor units

IMEC helps global chip manufacturers in the process of fitting transistors on a silicon chip.

Stocks to Watch: Telecom, LIC Hsg Fin, KEC Intl, Suven Life, IIFL Finance

Stocks to Watch Today: Indiabulls Housing Finance and RBL Bank are the two stocks in F&O ban period on Tuesday.

Vedanta Ltd invites EoI to sell Sterlite Copper plant in Thoothukudi

Exploring options to ensure plant and assets are best utilised, says company

Slowdown concerns drag Tata Steel, Hindalco; BSE Metal hits 15-month low

Global growth is projected to slowdown from an estimated 6.1% in 2021 to 3.6% in 2022. Given this, Tata Steel, Hindalco Industries, and Vedanta have shed up to 35 per cent in the past one month