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Indian miner Vedanta tops Q1 profit estimates on higher aluminium, zinc prices Indian mining group Vedanta's reported a bigger-than-expected first-quarter profit on Tuesday, reflecting higher prices of aluminium and zinc, its biggest two businesses. The conglomerate, led by billionaire Anil Agarwal, said its consolidated net profit surged 37% to 36.06 billion rupees (around $430 million). Analysts on average were expecting a profit of 24.83 billion rupees, as per LSEG data. During the quarter, global prices of base metals including zinc and aluminium rose a...
Indian miner Vedanta tops Q1 profit estimates on higher aluminium, zinc prices
Indian miner Vedanta tops Q1 profit estimates on higher aluminium, zinc prices
Source: Reuters
2024-08-06 05:13:16 pm
Vedanta Resources pays $246 million dues to help revive operations at Zambian copper mine UK-based Vedanta Resources, parent of India's Vedanta, has settled dues worth $245.75 million to help revive operations in Konkola copper mines (KCM) in Zambia as part of a deal to take back the mines, the Indian miner said on Friday. The miner, owned by billionaire Anil Agarwal, had in November 2023 regained control of the copper mines and smelter, which the Zambian administration had seized in 2019, but needed to pay creditors of the mines to revive operations. Vedanta Resources g...
Vedanta Resources pays $246 million dues to help revive operations at Zambian copper mine
Vedanta Resources pays $246 million dues to help revive operations at Zambian copper mine
Source: Reuters
2024-07-19 09:52:00 am
Vedanta Dedicated to Supporting India`s Dream of Atmanirbhar Bharat in Natural Resources: Anil Agarwal Vedanta’s Chairman, Anil Agarwal highlighted the company’s role in India’s dream of an ‘Atmanirbhar Bharat,’ as well as the conglomerate’s growth plans and investments in projects at its 59 th Annual General Meeting. He also discussed Vedanta’s role in India’s aspiration of global leadership in critical minerals, technology and renewable energy. “As we stand on the brink of an amazing transformation, our josh is high,” Agarwal said. ...
Vedanta Dedicated to Supporting India`s Dream of Atmanirbhar Bharat in Natural Resources: Anil Agarwal
Vedanta Dedicated to Supporting India`s Dream of Atmanirbhar Bharat in Natural Resources: Anil Agarwal
Source: PR Agency
2024-07-11 11:01:13 am
Vedanta's parent to sell 2.6% stake in Indian miner in about-turn Vedanta Resources will sell a 2.6% stake in Indian metals-to-oil firm Vedanta to a group of institutional investors, the former said in a statement on Wednesday. The move marks an about-turn from a week ago when Vedanta Chairman Anil Agarwal said there were no plans for a stake sale by the company's controlling shareholders. Vedanta Resources will sell the stake through its unit Finsider International, which held a 2.63% stake in Mumbai-listed Vedanta as of March-end, according to e...
Vedanta's parent to sell 2.6% stake in Indian miner in about-turn
Vedanta's parent to sell 2.6% stake in Indian miner in about-turn
Source: Reuters
2024-06-26 03:24:40 pm
``By the end of this fiscal we are confident of the successful demerger`` says Anil Agarwal Vedanta Group, a globally diversified natural resources company, today shared its strategic vision and growth plans, emphasizing its commitment to environmental sustainability and the expansion of its core businesses. Chairman, Anil Agarwal emphasized on the group's position as the largest integrated aluminum producer, with a capacity of 3 million tons, and its plans to produce 70 million tons of iron ore. He also highlighted Vedanta's aggressive expansion in the oil and gas sector...
``By the end of this fiscal we are confident of the successful demerger`` says Anil Agarwal
``By the end of this fiscal we are confident of the successful demerger`` says Anil Agarwal
Source: PR Agency
2024-06-24 11:37:55 am
Vedanta Aluminium to expand, targets production cost of $600-1,000/ton, new name finalised The demerger of Anil Agarwal's Vedanta Ltd into six companies has got the green signal from the bourses while discussions with the lenders on the division of the debt with the demerged entities are on. The name of the company that would house the company's aluminium business has also been finalised, said a top official of the aluminium business vertical. Vedanta Aluminium is also working towards cutting down its production cost to about $600-$1,000 per ton through various means ...
Vedanta Aluminium to expand, targets production cost of $600-1,000/ton, new name finalised
Vedanta Aluminium to expand, targets production cost of $600-1,000/ton, new name finalised
Source: IANS
2024-04-04 10:25:21 am
India`s Vedanta beats Q3 profit view on production, sales uptick  Indian metal-to-oil conglomerate Vedanta reported a smaller-than-expected drop in third-quarter profit on Thursday, as an uptick in production and sales outweighed lower metal prices. Consolidated profit after tax dropped 18% to 20.13 billion rupees (nearly $242 million), ahead of analysts' average estimate of a 23.5% fall, as per LSEG data. Domestic sales and production for Zinc rose 9.8% and 7% respectively, while that of aluminium rose 1.4% and 6%, respectively. As a res...
India`s Vedanta beats Q3 profit view on production, sales uptick
India`s Vedanta beats Q3 profit view on production, sales uptick
Source: Reuters
2024-01-25 04:57:19 pm
S&P Global Ratings downgrades Vedanta Resources amid bond maturity extension  S&P Global Ratings on Thursday downgraded the rating of Vedanta Resources, parent of Indian miner Vedanta Ltd, citing concerns about extension of maturities of some of its bonds. Vedanta Resources late Wednesday said it raised $1.25 billion from financial institutions for refinancing, including a new credit facility. The company also said it started consent solicitations with existing bondholders to extend debt maturity profile, allowing for extension of maturities, amendments...
S&P Global Ratings downgrades Vedanta Resources amid bond maturity extension
S&P Global Ratings downgrades Vedanta Resources amid bond maturity extension
Source: Reuters
2023-12-14 10:56:40 am
Tweet by Anil Agarwal, Chairman, Vedanta Limited Below a Tweet by Mr. Anil Agarwal, Chairman, Vedanta Limited Our common goal, as Bharatiyas, is to reach the $5 trillion economy quickly and then race towards $10 trillion. This will eliminate poverty and create good living standards for all. As we move ahead, we have to address the discrimination between public sector and private sector (entrepreneurs) which is so evident. Government and banks are comfortable giving clearances and funding to the public sector. Government is mai ...
Tweet by Anil Agarwal, Chairman, Vedanta Limited
Tweet by Anil Agarwal, Chairman, Vedanta Limited
Source: PR Agency
2023-11-21 05:44:44 pm
India`s Vedanta finance chief Sonal Shrivastava resigns India's Vedanta on Tuesday said Chief Financial Officer (CFO) Sonal Shrivastava has resigned amid a major structural overhaul announced last month.Ajay Goel, incumbent CFO at Indian edtech startup Byju's, will return as Vedanta's finance chief effective Oct. 30, the company said in a statement.Billionaire Anil Agarwal-led Vedanta announced plans to carve the metals-to-oil conglomerate into six separate businesses last month, a move aimed at shoring up the group's financial performance after e...
India`s Vedanta finance chief Sonal Shrivastava resigns
India`s Vedanta finance chief Sonal Shrivastava resigns
Source: Reuters
2023-10-24 11:03:38 am
India`s Vedanta will complete sale of steel assets by March- chairman to CNBC-TV1 India's Vedanta Ltd will complete the sale of its steel assets by March 2024, group chairman Anil Agarwal told CNBC-TV18 channel on Tuesday.The company in June began the review of its steel and steel raw material business.
India`s Vedanta will complete sale of steel assets by March- chairman to CNBC-TV1
India`s Vedanta will complete sale of steel assets by March- chairman to CNBC-TV1
Source: Reuters
2023-10-03 02:33:10 pm
India`s Hindustan Zinc to spin off commodities into separate companies Hindustan Zinc on Friday said it plans to create separate entities for its zinc, lead, silver and recycling businesses to unlock "potential value" and will appoint external advisors to review its corporate structure.Shares of Hindustan Zinc surged as much as 6.6% after the announcement, while parent Vedanta Ltd jumped as much as 7.8%Hindustan Zinc's plans come at a time when Vedanta Ltd is also planning to separate its commodities businesses into multiple companies for better valuations.The c...
India`s Hindustan Zinc to spin off commodities into separate companies
India`s Hindustan Zinc to spin off commodities into separate companies
Source: Reuters
2023-09-29 02:39:10 pm