Vedanta Ltd News

Vedanta hits all time high, m-cap tops Rs 2 trn; up over 100% in a year

The stock price also reached global brokerage CLSA's and Motilal Oswal's target price of Rs 520 per share

Vedanta faces Rs 1.71 crore penalty in FY18 GST dispute over cenvat credit

Vedanta plans to challenge GST orders as it disputes penalties over transitional credit from FY18

Vedanta soars 7% amid heavy volumes on healthy outlook

Last month, Vedanta said that demerger on track and in its final stages, with shareholder and creditor meetings scheduled in the coming months.

Crisil upgrades rating on Vedanta's long-term debt instruments to 'AA'

Vedanta Ltd on Tuesday said that Crisil Ratings Ltd has upgraded its rating on the company's long-term bank facilities and debt instruments. Improved capital structure, better financial flexibility and strong volume growth are the key reasons for the upgrade. Crisil has upgraded its rating on Vedanta's long-term bank facilities and debt instruments to AA from 'AA-', the rating agency said. "The rating upgrade factors the expected material improvement in the consolidated operating profitability (earnings before interest, tax, depreciation and amortisation or Ebitda) of Vedanta along with improved capital structure with reduction in debt and leverage to below rating thresholds," Crisil said in its rating rationale. This is the second upgrade for Vedanta by a major credit agency in the last three months. In September, ICRA had upgraded Vedanta Ltd's long-term credit rating to AA from AA-, citing company's strengthened credit profile. UK-based Vedanta Resources, the parent of India's

Fundraising via QIP hits Rs 1 trillion for the first time ever in history

Meanwhile, Adani Energy Solutions has raised Rs 8,373 crore via QIP in August, making it the largest fundraise in the Indian power sector.

Vedanta and PwC partner on carbon reduction initiatives in Odisha

The companies plan to distribute 2,000 improved cookstoves and work to replace invasive plant species

Saudi Arabia signs $9 bn metals deals with firms including Vedanta, Zijin

The kingdom's growing mining industry is part of the Vision 2030 plan to diversify the economy and cut reliance on fossil fuels.

Here's why Nifty Metal index rose over 1% on November 26; details inside

At 11:52 AM, 12 of the 15 stocks in the Nifty Metal Index were trading in the green, while three remained in the red

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

The issue, which could raise as much as $500 million, is the first since the Adani crisis and will test global appetite for Indian high yield credit following the allegations against Adani

Vedanta tests offshore dollar bond demand amid Adani-induced uncertainty

Vedanta Resources Finance II Plc's notes due in April 2026 have climbed nearly to par, after touching a low of about 60.4 cents in January

Vedanta demerger: NCLT clears way for meetings of shareholders, creditors

Mining major Vedanta Ltd on Friday said the Mumbai bench of the NCLT has asked the company to call for a meeting of its secured and unsecured creditors and shareholders in the next 90 days to discuss the proposed demerger. 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. "A meeting of the equity shareholders... be convened and held within 90 days from the date of receipt of the order," said a two-member bench of the National Company Law Tribunal (NCLT) comprising Technical Member Madhu Sinha and Judicial Member Reeta Kohli in its order dated November 21. Vedanta Chairman Anil Agarwal had earlier said the proposed demerger of the company's diverse verticals that represent more than 15 commodities will see it progress from being asset managers to asset owners. As the company passes through the transition .

Vedanta Resources delays dollar bond issue over Adani-linked allegations

The firm had planned to raise funds via dollar denominated bonds maturing in three years and six months

NALCO, Hindalco, Vedanta surge up to 9% as China cancels export tax rebates

The development is likely to curtail China's aluminium exports, thereby tightening global supply and driving up prices, ICICI Securities said

Vedanta aims to increase production across segments: Chairman Anil Agarwal

Vedanta Chairman Anil Agarwal on Saturday said the metal and mining conglomerate looks to increase production across segments including crude oil and zinc. "We are going to produce five hundred thousand barrels of oil and gas...so many other things they are doing, but these are the major thing for me to do..." Agarwal said at the HT Leadership Summit 2024 here. He also termed the closure of Tuticorin copper plant in Tamil Nadu as one of his smallest failures as a businessman. "Tuticorin is one of the smallest failures. More failure you have, the more success you will get. This (failure) is the first ladder for your success," Agarwal said remembering the incidents that led to the closure of the copper unit. In the near future, Vedanta is aiming to double the production levels of its subsidiary Hindustan Zinc, increase oil production at Cairn Oil & Gas to 3 lakh barrels of oil equivalent per day, and increase the capacity at its aluminium smelter to 3 million tonnes per annum, ...

SC dismisses Vedanta's review petition to reopen copper plant in Tamil Nadu

The Tamil Nadu govt closed the plant after 13 people were killed during a protest against environmental and public health impact of the Sterlite Copper unit

Vedanta slumps 15% from Sept 30 peak: is it a good entry point?

Strong Q2 performance, improved earnings visibility keeps analysts bullish on the counter

Vedanta Ltd plans to invest around $550 million in AvanStrate Inc

AvanStrate has operations and R&D capabilities across Taiwan, South Korea, and Japan

Vedanta plans to invest $500 mn in display glass maker AvanStrate Inc

Metals and mining giant Vedanta Ltd is planning to invest close to USD 500 million in its display glass unit AvanStrate Inc, the company said on Monday. Vendanta Group has expressed interest in setting up a display semiconductor manufacturing unit in India. "Vedanta Limited is planning to invest close to USD 500 million (about Rs 4,300 crore) in its group company, AvanStrate Inc. (ASI), a leading global display glass manufacturer that is now fully managed by Vedanta Limited," it said in a statement. The company plans to make this strategic investment to drive innovation and expansion within ASI, strengthening its focus on research and development, as well as manufacturing capabilities and product offerings to cater to the growing global demand for advanced display glass solutions, the statement said. "This strategic investment from Vedanta Group is reflective of our clear and definitive shift in focus toward significant growth-oriented projects. We are confident that ASI's ...

Vedanta keeps cost guidance unchanged, pushes capital expenditure pedal

Anil Agarwal, in a shareholder message, highlights doubling of capacities across its key businesses

Vedanta Resources debt reduced by $4.7 bn in 2 years, says Anil Agarwal

Debt at Vedanta Resources - the parent firm of the Mumbai-listed mining conglomerate Vedanta Ltd - has been cut by USD 4.7 billion in two years as financial discipline helped deleverage the group, its chairman Anil Agarwal said. In a letter to shareholders, he said Vedanta Ltd delivered its highest-ever EBITDA of Rs 20,639 crore in the first half of the current fiscal year as a result of "focus on achieving higher production levels, driving operational excellence, and successfully navigating a dynamic global environment". Vedanta's aluminium and zinc production volumes have reached record levels. "In the near future, we are aiming to double the production levels at our subsidiary, Hindustan Zinc Ltd, increase oil production at Cairn Oil & Gas to 3 lakh barrels of oil equivalent per day, and increase the capacity at our aluminium smelter to 3 million tonnes per annum," he said. Additionally, Vedanta remains committed to becoming a greener and more sustainable company by producing ..