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Vedanta receives arbitration award in Rajasthan oil block case Vedanta Ltd has won an arbitration award in the Rajasthan oil block case. "Company has received an arbitration award dated August 23, 2023 inter alia upholding the contention of the company that additional Profit Petroleum, on account of Director General of Hydrocarbon (DGH) audit exceptions in relation to allocation of common development costs across Development Areas and certain other matters, is not payable as per terms of the Production Sharing Contract for Rajasthan Block," ...
Vedanta receives arbitration award in Rajasthan oil block case
Vedanta receives arbitration award in Rajasthan oil block case
Source: IANS
28/08/2023 9:25:21 AM
Vedanta appoints John Slaven, former COO of Alcoa, as CEO for Aluminium Business Vedanta Limited today announced the appointment of former Alcoa COO, John Slaven, as the Chief Executive Officer for its Aluminium Business, effective October3, 2023. Vedanta Limited is the largest producer of aluminium in India. Alcoa, a leading American multinational corporation is the sixth largest producer of aluminium in the world by capacity. John Slaven is a reputedglobal leader who has also worked in key executive roles in the Australian mining and metals major BHP and with The Bos...
Vedanta appoints John Slaven, former COO of Alcoa, as CEO for Aluminium Business
Vedanta appoints John Slaven, former COO of Alcoa, as CEO for Aluminium Business
Source: PR Agency
11/08/2023 12:43:11 PM
Banks cautious over Vedanta`s dividend payout to parent company  Banks are reportedly feeling uncomfortable by Vedanta Limited issuing high dividends to its parent company, as per sources. Banks are said to be worried about their exposures to Vedanta Limited and its financial health in the midst of this high dividend spree. VEDL’s net debt stood at Rs 592b and net debt/EBITDA stood at 1.88x in 1QFY24 as against 1.28x as on Mar’23. Vedanta paid out Rs 18.5 as the first interim dividend for FY24, Motilal Oswal Financial Services said ...
Banks cautious over Vedanta`s dividend payout to parent company
Banks cautious over Vedanta`s dividend payout to parent company
Source: IANS
25/07/2023 3:53:17 PM
India's Vedanta CFO says confident of meeting debt maturities in FY24 India's Vedanta is confident of meeting its debt maturities of $2.7 bln this fiscal year, its CFO said on Monday. The company is committed to reducing debt as its "high-quality" assets continue to generate a healthy cash flow, Sonal Shrivastava said in a statement. "We are prudent in raising capital." Earlier this month, the company said it will enter the market for the manufacturing of chips and displays this year after its joint-venture partner Foxconn pulled o...
India's Vedanta CFO says confident of meeting debt maturities in FY24
India's Vedanta CFO says confident of meeting debt maturities in FY24
Source: Reuters
24/07/2023 7:59:41 PM
Engaged with 100 global suppliers to build chip, display fabs in India: Vedanta The Vedanta Group on Tuesday said it remains committed to building India’s first semiconductor and display fabs in Gujarat, and has already engaged with more than 100 global suppliers and ancillary industries. The statement came after Taiwanese chip-making giant Foxconn withdrew from a joint venture to manufacture chips with India-based industrial giant. According to Vedanta Semiconductors and Display Global MD Akarsh K. Hebbar, Vedanta Group remains fully committed to building In...
Engaged with 100 global suppliers to build chip, display fabs in India: Vedanta
Engaged with 100 global suppliers to build chip, display fabs in India: Vedanta
Source: IANS
19/07/2023 9:35:11 AM
India`s Vedanta says awaiting India government nod for semiconductor plant India's Vedanta is awaiting the Indian government's nod for incentives under a modified semiconductor production plan to begin construction of a plant in western state Gujarat, for which its has roped in technology and equity partners, a top executive said on Tuesday
India`s Vedanta says awaiting India government nod for semiconductor plant
India`s Vedanta says awaiting India government nod for semiconductor plant
Source: Accord Fintech
18/07/2023 6:33:15 PM
Vedanta has best dividend yield among large-cap stocks Vedanta Ltd has the best dividend yield in the last 12 months among large-cap stocks at 31 per cent. As per a report by Axis Securities, it is followed by Hindustan Zinc at 25 per cent, Coal India at 10 per cent, ONGC at 8 per cent, and Power Grid and GAIL at 5 per cent. Among the mid-cap companies, Sanofi India, REC and Oil India have the best dividend yield at 8 per cent, followed by Power Finance Corporation and Oracle Financial Services at 6 per cent. Among the small-cap companie...
Vedanta has best dividend yield among large-cap stocks
Vedanta has best dividend yield among large-cap stocks
Source: IANS
17/07/2023 5:28:50 PM
Buy Vedanta Ltd For Target Rs.305 - Religare Broking Ltd Vedanta Ltd * We have been witnessing noticeable traction in the metal space and seeing improvement in participation as well. * VEDL is trading on the verge of a fresh break from a distorted cup and handle pattern which indicates a pause. * The chart pattern combined with overall favorable sentiment is adding to confirmation.  * We thus recommend creating fresh longs in the mentioned zone. Buy Vedanta Ltd CMP:284.75, Initiation Range 284-286, Stop Loss 2...
Buy Vedanta Ltd For Target Rs.305 - Religare Broking Ltd
Buy Vedanta Ltd For Target Rs.305 - Religare Broking Ltd
Source: Religare Broking Ltd
17/07/2023 10:31:50 AM
100% committed to producing chips, display glass in India: Vedanta Chairman Vedanta Chairman Anil Agarwal on Thursday said that he is 100 per cent committed to produce semiconductors and display glass in India and have lined up partners for the same. Agarwal reacted after Taiwanese chip-making giant Foxconn announced it had withdrawn from a joint venture to manufacture chips with India-based industrial giant Vedanta. He said that India is a land of opportunities with huge potential. “We need several ventures to help India become a semiconductor and dis...
100% committed to producing chips, display glass in India: Vedanta Chairman
100% committed to producing chips, display glass in India: Vedanta Chairman
Source: IANS
13/07/2023 4:59:07 PM
India`s Vedanta says co has lined up partners for semiconductor venture India's Vedanta has lined up partners for its semiconductor manufacturing venture in the country, group chairman Anil Agarwal said on Wednesday, days after its joint-venture partner Foxconn pulled out of the chipmaking project. Foxconn withdrew from a $19.5 billion semiconductor joint venture with the metals-to-oil conglomerate earlier this week.
India`s Vedanta says co has lined up partners for semiconductor venture
India`s Vedanta says co has lined up partners for semiconductor venture
Source: Reuters
12/07/2023 3:48:48 PM
Neutral Vedanta Ltd For Target Rs.280 - Motilal Oswal Financial Services * Our analysis of VEDL’s FY23 annual report showed that despite volatility in prices and elevated input costs, domestic demand remained resilient for the company. * The metals and mining sector is expected to contribute substantially to India’s GDP, and VEDL expects domestic demand to outpace global demand till FY30. * Metal consumption in India is expected to remain robust, driven by the ‘trinity of manufacturing, infrastructure and energy’. VEDL, being the larg...
Neutral Vedanta Ltd For Target Rs.280 - Motilal Oswal Financial Services
Neutral Vedanta Ltd For Target Rs.280 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services Ltd
12/07/2023 11:40:40 AM
Vedanta Limited adds Semiconductors and Display Glass ventures to its portfolio Vedanta Limited, India’s natural resources and technology conglomerate today announced the addition of semiconductors and display glass manufacturing ventures to its diversified portfolio This represents a large growth opportunity for India where the semiconductor market stood at $ 24 bn in 2022 and is estimated to reach $ 80 bn by 2026. The display panel market is estimated to be worth $ 7 billion and is expected to grow to $ 15 billion by 2025. Currently, India imports 100% of thes...
Vedanta Limited adds Semiconductors and Display Glass ventures to its portfolio
Vedanta Limited adds Semiconductors and Display Glass ventures to its portfolio
Source: PR Agency
10/07/2023 4:47:26 PM
Vedanta rises on receiving approval for acquisition of 100% of VFSPL, VDL Vedanta is currently trading at Rs. 282.55, up by 1.95 points or 0.69% from its previous closing of Rs. 280.60 on the BSE. The scrip opened at Rs. 283.00 and has touched a high and low of Rs. 283.00 and Rs. 279.55 respectively. So far 324810 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 340.75 on 20-Jan-2023 and a 52 week low of Rs. 221.05 on 08-Jul-2022. Last one week high and low of the scrip stood at Rs. 28...
Vedanta rises on receiving approval for acquisition of 100% of VFSPL, VDL
Vedanta rises on receiving approval for acquisition of 100% of VFSPL, VDL
Source: Accord Fintech
10/07/2023 10:30:28 AM
Zambia says deal with India`s Vedanta over disputed copper assets imminent  Zambia is close to resolving a dispute with Vedanta Resources over its Konkola Copper Mines, with a deal over the future of the partly state-owned unit "imminent", its mines minister said. KCM has battled to attract investment since relations between Zambia and Vedanta broke down several years ago, culminating in the state's take-over of the KCM assets and forced liquidation in May 2019. The move triggering protracted legal battles, with Vedanta approaching an arbitr...
Zambia says deal with India`s Vedanta over disputed copper assets imminent
Zambia says deal with India`s Vedanta over disputed copper assets imminent
Source: Reuters
5/07/2023 5:18:25 PM
Vedanta rolls out unique inclusion policy for transgenders New Delhi:In an effort towards promoting inclusivity and diversity at workplace,Vedanta Ltd, a globally diversified natural resources company, launched a unique inclusion policy for its transgender employees. The policy was announced duringan interactive awareness session with Laxmi Narayan Tripathi hosted by Hindustan Zinc centred around promoting diversity and inclusion.The company celebrated pride month by organizing engaging sessions as part of the ongoing initiative ‘Zinclusion&rsq...
Vedanta rolls out unique inclusion policy for transgenders
Vedanta rolls out unique inclusion policy for transgenders
Source: PR Agency
30/06/2023 4:52:18 PM
Vedanta moves up on planning to invest $1.7 billion in FY24 Vedanta is currently trading at Rs. 282.20, up by 1.70 points or 0.61% from its previous closing of Rs. 280.50 on the BSE. The scrip opened at Rs. 279.00 and has touched a high and low of Rs. 282.40 and Rs. 278.70 respectively. So far 103725 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 340.75 on 20-Jan-2023 and a 52 week low of Rs. 206.10 on 01-Jul-2022. Last one week high and low of the scrip stood at Rs. 28...
Vedanta moves up on planning to invest $1.7 billion in FY24
Vedanta moves up on planning to invest $1.7 billion in FY24
Source: Accord Fintech
20/06/2023 11:34:31 AM
Vedanta gains on partnering with Volvo CE to deploy off-road e-machines at Karnataka mines Vedanta is currently trading at Rs. 278.30, up by 0.95 points or 0.34% from its previous closing of Rs. 277.35 on the BSE. The scrip opened at Rs. 277.45 and has touched a high and low of Rs. 279.00 and Rs. 276.70 respectively. So far 201417 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 340.75 on 20-Jan-2023 and a 52 week low of Rs. 206.10 on 01-Jul-2022. Last one week high and low of the scrip stood at Rs. 28...
Vedanta gains on partnering with Volvo CE to deploy off-road e-machines at Karnataka mines
Vedanta gains on partnering with Volvo CE to deploy off-road e-machines at Karnataka mines
Source: Accord Fintech
7/06/2023 3:42:18 PM
Vedanta deploys electric off-road machines at its iron ore mines Vedanta Iron Ore Karnataka (IOK) will deploy Volvo's electric off-road machines at its mines in Chitradurga on a trial basis. A Memorandum of Understanding (MoU) has been signed between Vedanta IOK and Volvo CE India to this effect, the two companies said. With the pilot project commencing at Vedanta IOK, the company has deployed Volvo's recently launched EC55 all-electric excavator and its subsidiary SDLG's L956H electric wheel loader for its iron ore mining operations. ...
Vedanta deploys electric off-road machines at its iron ore mines
Vedanta deploys electric off-road machines at its iron ore mines
Source: IANS
5/06/2023 2:33:59 PM
From mobile phones to chips, India manufacturing enters golden era In 2018, South Korean giant Samsung inaugurated the world's largest mobile factory in India. The 35-acre facility at Sector 81 in Noida, Uttar Pradesh, saw Prime Minister Narendra Modi and South Korean President Moon Jae-in officially inaugurating it together -- placing the country firmly on the global manufacturing map. Even before that, the country saw a massive turnaround in mobile manufacturing. Before 2014, there were two mobile manufacturing factories and now, more than 200 manuf...
From mobile phones to chips, India manufacturing enters golden era
From mobile phones to chips, India manufacturing enters golden era
Source: IANS
27/05/2023 5:55:16 PM
Vedanta appoints 34-year industry veteran for its semiconductor business in India Vedanta-Foxconn Semiconductors Limited (VFSL), a joint venture between Foxconn and Vedanta Group, has appointed Mike Young as Senior Vice President, Project Management Office and Manufacturing Operations. In this role, Mike will oversee the seamless execution of manufacturing and operational processes as VFSL looks at setting up a state-of-the-art semiconductor fab in India. "Mike Young brings with him 34 years of extensive experience in front-end semiconductor manufacturing across...
Vedanta appoints 34-year industry veteran for its semiconductor business in India
Vedanta appoints 34-year industry veteran for its semiconductor business in India
Source: IANS
25/05/2023 5:27:17 PM
India`s Vedanta Group in talks to raise at least $500 million -Bloomberg India's Vedanta Group, promoter of metals-to-oil conglomerate Vedanta Ltd, is in talks with banks to raise at least $500 million, Bloomberg reported on Thursday. The move by billionaire Anil Agarwal-led Vedanta comes as its $500 million junk-rated bond matures at the end of this month, Bloomberg reported, citing sources familiar with the matter. Vedanta Ltd did not immediately respond to Reuters' requests for comment. The group has been depending on money from its units to ta...
India`s Vedanta Group in talks to raise at least $500 million -Bloomberg
India`s Vedanta Group in talks to raise at least $500 million -Bloomberg
Source: Reuters
18/05/2023 3:46:35 PM
Vedanta appoints Sonal Shrivastava as Chief Financial Officer Vedanta Limited, a globally diversified natural resources conglomerate, announced the appointment of Sonal Shrivastava as the Chief Financial Officer, effective June 1, 2023. Sonal brings more than 26 years of financial leadership across sectors as the company continues its next phase of growth. Sonal joins Vedanta from Holcim Group where she worked as the CFO for Asia Pacific, Middle East & Africa operations. Anil Agarwal, Chairman, Vedanta said, "We are delighted to h...
Vedanta appoints Sonal Shrivastava as Chief Financial Officer
Vedanta appoints Sonal Shrivastava as Chief Financial Officer
Source: PR Agency
16/05/2023 8:58:32 AM
Vedanta has best dividend yield among large cap stocks Vedanta Ltd. has the best dividend yield in the last 12 months among large cap stocks at 26 per cent. As per a report by Axis Securities, it is followed by Hindustan Zinc at 24 per cent, Coal India at 10 per cent, ONGC at 8 per cent and Power Grid, Tata Steel, GAIL, Tech Mahindra and Piramal Enterprises at 5 per cent. Among the mid cap companies, REC has the best dividend yield at 10 per cent, followed by Sanofi at 9 per cent, Oil India at 8 per cent. Among the small cap companies, T...
Vedanta has best dividend yield among large cap stocks
Vedanta has best dividend yield among large cap stocks
Source: IANS
15/05/2023 3:41:52 PM
India`s Vedanta names Holcim exec Sonal Shrivastava as CFO Indian resources conglomerate Vedanta Ltd on Monday named Holcim AG executive Sonal Shrivastava as its new chief financial officer, effective June 1. The move comes as Vedanta's parent, Vedanta Resources, tries to trim its debt amid concerns over its ability to meet financial obligations. It also follows a lapse in Hindustan Zinc Ltd's proposed deal to buy zinc assets from Vedanta for $2.98 billion. Shrivastava joins Vedanta from the Holcim Group where she worked as the CFO f...
India`s Vedanta names Holcim exec Sonal Shrivastava as CFO
India`s Vedanta names Holcim exec Sonal Shrivastava as CFO
Source: Reuters
15/05/2023 2:06:52 PM
Neutral Vedanta Ltd For Target Rs.280 - Motilal Oswal Financial Services Revenue beats estimate; EBITDA in line Cost of production set to decline as coal linkage improves * Vedanta (VEDL)’s consolidated net sales stood at INR379b (down 5% YoY/up 11% QoQ) in 4QFY23, 7% above our estimate of INR353b. Revenue growth was fueled by better performance across all the verticals (especially aluminum, copper and iron ore) during the quarter. *? VEDL’s consolidated EBITDA was at INR95b (down 31% YoY/up 34% QoQ) in 4QFY23, in line with our estimate of INR91b...
Neutral Vedanta Ltd For Target Rs.280 - Motilal Oswal Financial Services
Neutral Vedanta Ltd For Target Rs.280 - Motilal Oswal Financial Services
Source: Motilal Oswal Financial Services
14/05/2023 10:34:10 AM
India`s Vedanta posts slump in Q4 profit after metal prices fall Indian metals-to-oil conglomerate Vedanta Ltd reported a 68% slump in fourth-quarter profit on Friday after revenue fell amid declining prices of metals. Vedanta's consolidated net profit stood at 18.81 billion rupees ($230 million) for the quarter ended March 31, compared with 57.99 billion rupees a year earlier, the billionaire Anil Agarwal-led company said in an exchange filing. Analysts had, on average, expected a profit of 28.91 billion rupees, according to Refinitiv IBES data....
India`s Vedanta posts slump in Q4 profit after metal prices fall
India`s Vedanta posts slump in Q4 profit after metal prices fall
Source: IANS
12/05/2023 5:05:22 PM
Vedanta appoints Terry Daly as Advisor for Semiconductor Business Vedanta today announced the appointment of Terry Daly as Advisor for its semiconductor business. He will be responsible for providing strategic counsel and inputs as the conglomerate looks at setting up a state-of-the-art semiconductor fab unit and semiconductor assembling and testing unit in India. “We are pleased to welcome Terry Daly to our team,” said David Reed, CEO, Vedanta-Foxconn Semiconductors Limited (VFSL). “As an industry veteran, Terry brings a vast wealth of...
Vedanta appoints Terry Daly as Advisor for Semiconductor Business
Vedanta appoints Terry Daly as Advisor for Semiconductor Business
Source: PR Agency
11/05/2023 12:36:48 PM
Vedanta rises as its Aluminium Business gets ASI Performance Standard Certification Vedanta is currently trading at Rs. 285.85, up by 2.15 points or 0.76% from its previous closing of Rs. 283.70 on the BSE. The scrip opened at Rs. 286.00 and has touched a high and low of Rs. 287.25 and Rs. 283.85 respectively. So far 98240 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 352.90 on 10-May-2022 and a 52 week low of Rs. 206.10 on 01-Jul-2022. Last one week high and low of the scrip stood at Rs. 287...
Vedanta rises as its Aluminium Business gets ASI Performance Standard Certification
Vedanta rises as its Aluminium Business gets ASI Performance Standard Certification
Source: Accord Fintech
10/05/2023 11:42:57 AM
India to reopen process for $10 billion in chip incentives -Bloomberg News India plans to reopen the application process for $10 billion in incentives and assistance to encourage chip manufacturing, as previously announced projects are taking too long, Bloomberg News said on Wednesday, citing people familiar with the matter. India is keeping the process open-ended, doing away with a previous 45-day requirement to submit applications, the report said. The South Asian country now plans to allow companies to apply again and is set to accept applications until its...
India to reopen process for $10 billion in chip incentives -Bloomberg News
India to reopen process for $10 billion in chip incentives -Bloomberg News
Source: Reuters
10/05/2023 9:12:08 AM
Vedanta appoints veteran Terry Daly as advisor for semiconductor biz Global conglomerate Vedanta on Tuesday said it has appointed industry veteran Terry Daly as advisor for its semiconductor business. He will be responsible for providing strategic counsel and inputs as the conglomerate looks at setting up a state-of-the-art semiconductor fab unit and semiconductor assembling and testing unit in India. "We are pleased to welcome Daly to our team. As an industry veteran, he brings a vast wealth of knowledge and experience in managing several workstrea...
Vedanta appoints veteran Terry Daly as advisor for semiconductor biz
Vedanta appoints veteran Terry Daly as advisor for semiconductor biz
Source: IANS
9/05/2023 6:10:24 PM
Companies should take care of their employees: Vedanta Chairman on layoffs As global layoffs, especially in the tech industry, continue unabated in 2023, Vedanta Chairman Anil Agarwal on Monday shared his views on LinkedIn, saying the companies should take care of their employees as they will only take care of their business. He recalled the time when Vedanta first took over Hindustan Zinc Limited (HZL). "In these uncertain times of global layoffs, I am reminded of a story that will always stay with me -- one of hope, unity and the power of believing in p...
Companies should take care of their employees: Vedanta Chairman on layoffs
Companies should take care of their employees: Vedanta Chairman on layoffs
Source: IANS
1/05/2023 5:34:31 PM
Vedanta surges as its parent company reduces gross debt by $1 billion Vedanta is currently trading at Rs. 278.20, up by 2.95 points or 1.07% from its previous closing of Rs. 275.25 on the BSE. The scrip opened at Rs. 275.80 and has touched a high and low of Rs. 279.05 and Rs. 275.60 respectively. So far 134701 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 419.55 on 29-Apr-2022 and a 52 week low of Rs. 206.10 on 01-Jul-2022. Last one week high and low of the scrip stood at Rs. 28...
Vedanta surges as its parent company reduces gross debt by $1 billion
Vedanta surges as its parent company reduces gross debt by $1 billion
Source: Accord Fintech
25/04/2023 12:30:40 PM
Vedanta joins 20 Korean display firms for electronics manufacturing hub in India Vedanta Group on Monday said it has signed memoranda of understanding (MoUs) with 20 Korean companies from the display glass industry for the development of an electronics manufacturing hub in India. The MoUs were signed at the recently-concluded 'Korea Biz-Trade Show 2023' event organised by KOTRA, the state-funded trade and investment promotion organisation operated by the South Korean government, in collaboration with Korea's Ministry of Trade, Industry and Energy. "...
Vedanta joins 20 Korean display firms for electronics manufacturing hub in India
Vedanta joins 20 Korean display firms for electronics manufacturing hub in India
Source: INAS
17/04/2023 4:01:47 PM
Government says steps will be taken to expedite domestic coal production The Coal Ministry will take all steps to further expedite domestic coal production and evacuation process, an official said on Wednesday. Addressing an interactive session with coal block allottees of captive and commercial coal blocks here, Coal Secretary Amritlal Meena said that timely availability of land and other clearances are of paramount importance in ensuring early production of coal from newly allocated blocks. In his keynote address, he said that the nominated authority in th...
Government says steps will be taken to expedite domestic coal production
Government says steps will be taken to expedite domestic coal production
Source: IANS
12/04/2023 6:14:32 PM
Vedanta surges on reporting 1.01% growth in aluminium production during FY23 Vedanta is currently trading at Rs. 284.65, up by 2.25 points or 0.80% from its previous closing of Rs. 282.40 on the BSE. The scrip opened at Rs. 284.10 and has touched a high and low of Rs. 284.65 and Rs. 280.25 respectively. So far 568860 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 440.75 on 11-Apr-2022 and a 52 week low of Rs. 206.10 on 01-Jul-2022. Last one week high and low of the scrip stood at Rs. 28...
Vedanta surges on reporting 1.01% growth in aluminium production during FY23
Vedanta surges on reporting 1.01% growth in aluminium production during FY23
Source: Accord Fintech
5/04/2023 1:25:59 PM
India`s Vedanta says talk of stake sale baseless as shares drop 6% Indian billionaire Anil Agarwal-led Vedanta Ltd called talks of any stake sale in the mining major "untrue and baseless" on Thursday, after a media report said the tycoon was weighing selling less than 5% stake in the company. Bloomberg News reported citing people familiar with the matter that Agarwal was studying options including selling a minority stake in Vedanta, as he looked to shrink his commodities business empire's massive debt load. However, a Vedanta spokesperso...
India`s Vedanta says talk of stake sale baseless as shares drop 6%
India`s Vedanta says talk of stake sale baseless as shares drop 6%
Source: Reuters
23/03/2023 12:28:11 PM
Buy Vedanta Ltd For Target Rs.404 - Centrum Broking Earnings to improve; YTDFY23 DPS at Rs81 VEDL reported higher-than-expected adjusted EBITDA of Rs70.7bn (CentrumE: Rs63.2bn) down 2% QoQ, primarily due to decline in commodity prices. Except of oil & gas, power and aluminium, rest segments reported sequential lower EBITDA. The hedging of commodity at higher prices helped VEDL to record gain of ~Rs4.75bn in Q2FY23 (vs 17bn in Q2FY23). Ex-Hindustan Zinc (HZ), adj EBITDA was Rs35.3bn, up 10% QoQ. Management guides power cost to go down in...
Buy Vedanta Ltd For Target Rs.404 - Centrum Broking
Buy Vedanta Ltd For Target Rs.404 - Centrum Broking
Source: Centrum Broking Ltd
14/03/2023 12:59:14 PM
Indian government may put Hindustan Zinc share sale plan on hold The Indian government may put a plan to sell part of its stake in Hindustan Zinc (HZL) on hold unless the company calls off the nearly $3 billion cash acquisition of two Vedanta Group subsidiaries, a senior government source said. The government is the largest minority shareholder in HZL with a 29.54% stake in the company, while Vedanta owns 64.9%. The government had planned to sell part of it in the 2022/23 fiscal year ending March 31, which would help it to achieve its 500 billion rup...
Indian government may put Hindustan Zinc share sale plan on hold
Indian government may put Hindustan Zinc share sale plan on hold
Source: Reuters
13/03/2023 9:18:11 AM
Vedanta recognised as Kincentric Best Employer 2022 Vedanta Ltd.today announced that it has been conferred with Kincentric Best Employer Award – India2022, one of the most prestigious recognitions globally.The award comes as part of Kincentric’s robust assessment that measures and identifies organizations who have transformed their people practices driving better business outcomes.   Vedanta's people-first approach is geared towards fostering a culture that is engaging and empowering. The core values of the organizat...
Vedanta recognised as Kincentric Best Employer 2022
Vedanta recognised as Kincentric Best Employer 2022
Source: PR Agency
25/02/2023 1:51:44 PM
India opposes Vedanta's $3 billion zinc assets sale, rekindling debt worries The Indian government has opposed Hindustan Zinc Ltd's $2.98 billion acquisition of assets from the flagship firm of Vedanta Resources, dealing a blow to billionaire Anil Agarwal's plans to trim down the mining giant's $7.7 billion net debt. The government, which owns a nearly 30% stake in Hindustan Zinc, is against the miner buying some Africa-based zinc assets from Vedanta Ltd - its top shareholder with a near-65% stake - as it was a "related party transaction". ...
India opposes Vedanta's $3 billion zinc assets sale, rekindling debt worries
India opposes Vedanta's $3 billion zinc assets sale, rekindling debt worries
Source: Accord Fintech
20/02/2023 10:51:22 AM
Vedanta Resources reduces net debt by $2 Bn in FY23, ahead of plans Vedanta Resources Limited (Vedanta), the parent company of Vedanta Limited, India’s largest natural resources company, hasdeleveraged by $2 Bn in the past 11 months, thus achieving half of its $4 Bn 3-year debt reduction commitment in the first year alone. Powered by robust domestic consumption in the fastest growing major economy, Vedanta is delivering healthy cash flows whilst maintaining disciplined capital allocation and has reduced net debt by $2 Bn, ahead of plans for this fi...
Vedanta Resources reduces net debt by $2 Bn in FY23, ahead of plans
Vedanta Resources reduces net debt by $2 Bn in FY23, ahead of plans
Source: PR Agency
17/02/2023 1:40:31 PM
Vedanta gains as its declared preferred bidder for Sijimali Bauxite Block in Odisha Vedanta is currently trading at Rs. 315.40, up by 2.45 points or 0.78% from its previous closing of Rs. 312.95 on the BSE. The scrip opened at Rs. 315.10 and has touched a high and low of Rs. 316.70 and Rs. 314.15 respectively. So far 87924 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 440.75 on 11-Apr-2022 and a 52 week low of Rs. 206.10 on 01-Jul-2022. Last one week high and low of the scrip stood at Rs. 316...
Vedanta gains as its declared preferred bidder for Sijimali Bauxite Block in Odisha
Vedanta gains as its declared preferred bidder for Sijimali Bauxite Block in Odisha
Source: Accord Fintech
16/02/2023 11:36:44 AM
Key News - TATA Motors Ltd, Bajaj Finance Ltd, Vedanta Ltd, Aditya Birla Sun Life AMC Ltd By ARETE Securities Key News TATA Motors to hike prices of passenger v4ehicles by 1.2% from February : Tata Motors Ltd said on Friday it would hike prices of its passenger vehicles by 1.2% on a weighted average basis from 1 February, citing a rise in overall input costs. The company has been absorbing a significant portion of the increased costs, but the steep rise in overall input costs has compelled the company to pass on some proportion through this minimal price hike. While the price increase will v...
Key News - TATA Motors Ltd, Bajaj Finance Ltd, Vedanta Ltd, Aditya Birla Sun Life AMC Ltd By ARETE Securities
Key News - TATA Motors Ltd, Bajaj Finance Ltd, Vedanta Ltd, Aditya Birla Sun Life AMC Ltd By ARETE Securities
Source: ARETE Securities Ltd
30/01/2023 9:47:46 AM
Weekly Tech Picks: APL Apollo Tubes Ltd , Sobha Ltd , Vedanta Ltd, Larsen & Toubro Ltd By Axis Securities APL Apollo Tubes Ltd • The stock is in strong uptrend forming a series of higher tops and bottoms on the daily and weekly time indicating positive bias • The stock is well placed above its key averages 20, 50, 100 and 200 day SMA’s and sustaining above the same which reconfirm bullish sentiments. • On the daily chart, the stock has confirmed “rounding bottom” formation which denotes continuation of prior uptrend • The daily and weekly strength...
Weekly Tech Picks: APL Apollo Tubes Ltd , Sobha Ltd , Vedanta Ltd, Larsen & Toubro Ltd By Axis Securities
Weekly Tech Picks: APL Apollo Tubes Ltd , Sobha Ltd , Vedanta Ltd, Larsen & Toubro Ltd By Axis Securities
Source: Axis Securities Ltd
23/01/2023 12:04:27 PM
Key News - Asian Paints Ltd ,Havells India Ltd, Hindustan Unilever, Adani Group,Reliance Industries Ltd,Vedanta By ARETE Securities Key News Asian Paints December quarter net profit rises 6.4% to Rs 1,097 crore Asian Paints Ltd on Thursday reported a 6.4 per cent rise in consolidated net profit at Rs 1,097.06 crore in the third quarter ended December 2022. The company had posted a consolidated net profit of Rs 1,031.29 crore in the same period last fiscal, Asian Paints said in a regulatory filing. Consolidated revenue from operations stood at Rs 8,636.74 crore as against Rs 8,527.24 crore in the year-ago quarter, it...
Key News - Asian Paints Ltd ,Havells India Ltd, Hindustan Unilever, Adani Group,Reliance Industries Ltd,Vedanta By ARETE Securities
Key News - Asian Paints Ltd ,Havells India Ltd, Hindustan Unilever, Adani Group,Reliance Industries Ltd,Vedanta By ARETE Securities
Source: ARETE Securities Ltd
20/01/2023 9:32:56 AM
Vedanta moves up on getting nod to acquire Meenakshi Energy Vedanta is currently trading at Rs. 326.25, up by 2.15 points or 0.66% from its previous closing of Rs. 324.10 on the BSE. The scrip opened at Rs. 323.90 and has touched a high and low of Rs. 327.00 and Rs. 322.00 respectively. So far 90750 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 440.75 on 11-Apr-2022 and a 52 week low of Rs. 206.10 on 01-Jul-2022. Last one week high and low of the scrip stood at Rs. 327...
Vedanta moves up on getting nod to acquire Meenakshi Energy
Vedanta moves up on getting nod to acquire Meenakshi Energy
Source: Accord Fintech
19/01/2023 10:44:22 AM
Year End Quote : The efforts across sectors to decarbonize the economy will also increase the demand for raw materials - Sunil Duggal, Vedanta Limited During the year gone by, the natural resources and mining sector witnessed a robust growth supported by uptick in the commodities cycle and rising energy transition-related demand. India became the fifth largest economy of the world, surpassing UK, with one of the best performing equity markets and is aspiring to be the ‘Electronics Hub’ of the world where minerals will play a crucial role.   This year has been marked by geopolitical crisis, supply chain disruptions, co...
Year End Quote : The efforts across sectors to decarbonize the economy will also increase the demand for raw materials - Sunil Duggal, Vedanta Limited
Year End Quote : The efforts across sectors to decarbonize the economy will also increase the demand for raw materials - Sunil Duggal, Vedanta Limited
Source: PR Agency
30/12/2022 5:44:07 PM
Key Stock News: IIFL fintech , M3M India, Vedanta, Byju's, Glenmark Pharma, Dabur - ARETE Securities IIFL fintech fund picks up 16% in Insurance Samadhan for $2 million The IIFL Group's early-stage investment vehicle, IIFL Fintech Fund, has invested USD 2 million (around Rs 16.5 crore) in insurance technology startup Insurance Samadhan for a 16 per cent stake, valuing the platform at around USD 13 million (around Rs 107 crore). The startup also received another USD 1 million from other investors in the series-A round. This is IIFL fintech fund's 10th investment and first in the...
Key Stock News: IIFL fintech , M3M India, Vedanta, Byju's, Glenmark Pharma, Dabur - ARETE Securities
Key Stock News: IIFL fintech , M3M India, Vedanta, Byju's, Glenmark Pharma, Dabur - ARETE Securities
Source: ARETE Securities Ltd
22/12/2022 9:59:11 AM