Vedanta Steel

Vedanta may revisit the sale in the future but will prioritise investments in sectors like electronics and semiconductors

Diversified natural resources company Vedanta Ltd has filed the demerger scheme with the National Company Law Tribunal (NCLT) after receiving a nod from lenders and is hopeful of completing the process by the end of this fiscal, a senior company official said on Tuesday. The proposed demerger will create independent companies housing aluminium, oil and gas, power, steel and ferrous materials, and base metals businesses. The existing zinc and new incubated businesses will remain under Vedanta Ltd. Speaking with PTI, Vedanta's CFO Ajay Goel said, "There is a very significant development ( on demerger). We have secured all approvals be it secured lenders, BSE, NSE, and SEBI. We have filed the scheme on Monday with NCLT and filing the demerger scheme with NCLT practically is the last step." Now the proposed demerger, he said, will be a reality "very soon". "Our last commitment of demerger getting closed is by the end of this fiscal and we are very much on track," he explained. A few d

To get access to the mine again, Vedanta now needs to follow the court ruling by releasing $250 million to settle debts that KCM owes to contractors and suppliers

Vedanta also expects major cost reductions via alumina refinery capacity expansion, higher power generation efficiency, commissioning coal blocks and bauxite mines, and a smelting capacity increase

The surge in the metal index, analysts believe, is largely credited to Vedanta's robust Q4 performance and its first interim dividend declaration of Rs 11 for FY25

Vedanta Ltd board on Thursday approved rasing of Rs 2,500 crore through issuance of non-convertible debentures on private placement basis. A decision in this regard was taken at the meeting of Committee of Directors of the company, Vedanta Ltd said in a regulatory filing. "The Committee of Directors on Thursday, considered and approved for raising, on a private placement basis, up to 2,50,000 secured, unrated, unlisted, redeemable, non convertible debentures of face value Rs 1,00,000 each aggregating upto Rs 2,500 crore in one or more tranche(s)," the filing said. A subsidiary of Vedanta Resources Ltd, Vedanta Ltd has operations in oil and gas, zinc, lead, silver, copper, iron ore, steel, and aluminium and power across India, South Africa and Namibia.

Vedanta's oil business, Cairn India, also successfully lobbied to have public hearings scrapped for exploratory drilling in oil blocks it won in government auctions, the report said

'Investors like pure play,' says billionaire chairman of company that has varied interests

London-headquarted Vedanta Resources controls the India unit, Vedanta Ltd. Agarwal took Vedanta Resources private in 2018. As of 2022, his net worth was $2 billion, ranking him 97th among India's rich

Elaborating on the debt repayment plans, he said that Vedanta Resources Limited would repay its obligations through a combination of dividend and royalties

Pledges 2.44% stake worth Rs 3,500 crore

All metal stocks have "Death Cross", and if the current rally shows sustainability, the pullback rally would see added interest, indicate charts.

The metal index is on the verge of breakout, if crosses 5,800 mark, another 6 per cent jump is very certain.

Firm will enhance facilities to high carbon electrical steel, other value added products. It is working to double capacity to 3 million tonnes for which it has invested Rs 3,000 crore

The group's ESL Steel is looking to hit the ground with its plan of doubling capacity towards the end of the fourth quarter

The company aims to commence mining from this Jamkhani block within a year of getting the requisite approvals from the state authorities

New board put in place for ESL; Vedanta will fund 90% stake through combo of equity of Rs 17.65 bn and inter-corporate loan of Rs 35.55 bn