Tag: Vedanta

Vedanta’s Q1 profit more than doubles, demerges real-estate business

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Vedanta’s Q1 profit more than doubles, demerges real-estate business

Vedanta logo. File | Photo Credit: Reuters Privately-owned miner Vedanta’s net profit soared more than two-and-half times in the June-end quarter marked by enhanced cost efficiency and strong output across all segments. Along with their results, the company announced Arun Misra as their new Chief Executive Officer for a one-year period, starting August 1. Furthermore,…

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Reliance, Vedanta, Adani join India’s drive to cut China rare earth dependence

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Reliance, Vedanta, Adani join India’s drive to cut China rare earth dependence

Indian industrial groups Reliance, Vedanta and Adani ​have shown interest in developing facilities to process Andhra ⁠Pradesh State’s significant reserves of increasingly important rare-earth minerals, according to two sources with knowledge of the matter. With New Delhi seeking to cut India’s dependence on China for ‌rare earths, the three companies are among about 10 who…

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ICRA upgrades Vedanta’s credit rating to AA+, the highest rating over a decade

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ICRA upgrades Vedanta’s credit rating to AA+, the highest rating over a decade

Vedanta operates across a diversified portfolio spanning zinc, silver, aluminium, copper, nickel, iron ore, oil & gas and power generation. File image: X/@Vedanta_Group Vedanta Group said it has received its highest domestic credit rating in over a decade after ICRA, an affiliate of Moody’s, upgraded the long-term ratings of key group entities to AA+.  ICRA upgraded the long-term…

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Profit, Revenue Beat Estimates Amid Solid Volumes Growth

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Vedanta Ltd.’s quarterly revenue and net profit rose faster than estimates in the third quarter of the current financial year. Consolidated net profit rose 124% to Rs 7,807 crore in the October-December period, compared to Rs 3,479 crore in the previous quarter, according to a stock exchange filing on Thursday. Analysts’ consensus estimates compiled by Bloomberg projected Rs…

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Vedanta plans to invest ₹13,226 crore to ramp up aluminium capacity

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Vedanta plans to invest ₹13,226 crore to ramp up aluminium capacity

Vedanta is planning to invest ₹13,226 crore over the next few years for this expansion. File Anil Agarwal-led Vedanta Ltd plans to pump in ₹13,226 crore to ramp up its aluminium capacity to 3.1 million tonnes per annum (MTPA) by FY28, sources said. The current capacity of the company is 2.4 MTPA. Vedanta Ltd is…

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Vedanta demerger receives approval from shareholders, creditors

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Vedanta demerger receives approval from shareholders, creditors

Vedanta Limited will also act as an incubator for new businesses, including Vedanta’s technology verticals. File | Photo Credit: AP “Vedanta Limited has received approval from its shareholders and creditors for its proposal to demerge the company into five independent, sector-specific companies,” according to a stock exchange filing by the company. The demerger was approved…

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Vedanta to proceed with dollar bond sale in first post-Adani India credit test

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Vedanta to proceed with dollar bond sale in first post-Adani India credit test

Vedanta Resources. File | Photo Credit: AP Vedanta Resources, which postponed a planned sale of dollar bonds last week after the Adani group’s top officials were indicted by U.S. prosecutors, will now launch the issue on Monday (November 25, 2024), according to two sources. The issue, which could raise as much as $500 million,…

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Vedanta plans to invest $500 million in group firm AvanStrate Inc.

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Vedanta plans to invest 0 million in group firm AvanStrate Inc.

Vedanta Limited has announced plans to invest close to $500 million in its group company, AvanStrate Inc. (ASI), which is a display glass manufacturer. Earlier this year, Vedanta acquired 98% stake in ASI. “This investment is aimed at driving innovation and expansion within ASI, strengthening its focus on R&D, as well as manufacturing capabilities and…

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Vedanta ordered to pay Cairn UK 9.4 million for delayed dividends

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Vedanta ordered to pay Cairn UK 9.4 million for delayed dividends

FILE PHOTO: A bird flies by the Vedanta office building in Mumbai August 16, 2010. REUTERS/Danish Siddiqui/File Photo | Photo Credit: Reuters March 12 Indian mining group Vedanta must pay $9.4 million) to Cairn UK Holdings for a delay in paying dividends, the Securities and Exchange Board of India (SEBI) said on March 12. The…

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Tamil Nadu: Vedanta Can’t Reopen Sterlite Copper Plant, Public Health Important: Supreme Court

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Tamil Nadu: Vedanta Can’t Reopen Sterlite Copper Plant, Public Health Important: Supreme Court

The bench referred to the “repeated nature of breaches” coupled with severity of violations by the unit. New Delhi: In a jolt to Vedanta Limited, the Supreme Court on Thursday dismissed its plea for reopening of its copper smelting plant in Tamil Nadu’s Thoothukudi, closed since May 2018 over pollution concerns, while underlining the importance…

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