Page 2 - Vedanta Limited

Vedanta starts demerger process with incorporation of base metal subsidiary

Vedanta Base Metals Ltd has been incorporated to carry out the metal business

Vedanta Ltd arm Hindustan Zinc gets Rs 1.81 crore tax penalty order

Vedanta Ltd on Monday said the tax authorities have imposed a penalty of Rs 1.81 crore on its subsidiary Hindustan Zinc. The order was received on Sunday, October 8, Vedanta Ltd informed the exchanges. "The company has received an order from Assistant Commissioner, Div-A, Central GST Audit Circle, CGST, Udaipur imposing a penalty of Rs. 1,81,06,073/- under Section 74(9) of the CGST Act 2017 read with corresponding provisions of the SGST Act, 2017 and Section 20 of IGST Act, 2017 for the period July 2017 to March 2018," Vedanta Ltd said. "The order has been passed on the contention that the company had wrongly availed input tax credit," it said. The company further said it is hopeful of a favourable outcome at the appellate level and does not expect the order to have any financial impact on the company.

Vedanta donated Rs 155 cr to political parties via electoral bonds in FY23

Vedanta's donation in FY23 was higher than Rs 123 crore in FY22; between 2018 and 2022, the BJP received Rs 5,270 crore, and the Congress received Rs 964 crore through electoral bonds

Vedanta plans to invest $1.7 bn in FY24 on growth projects: Anil Agarwal

Sharing details of the company's projects, the chairman said Vedanta is already expanding its aluminium and zinc capacities

Sensex snaps 2-day winning streak, ends 187 pts lower; Nifty50 below 18,150

CLOSING BELL: Broader markets, too, were subdued in trade as Nifty MidCap 100 and Nifty SmallCap 100 indices declined up to 0.4 per cent.

Vedanta Q2 net profit falls 60% on higher expenses; revenue up 20%

Vedanta's oil and gas business also took a hit due to the windfall tax and lower crude prices in Q2, analysts said

Vedanta's net profit declines 61% to Rs 1,808 crore in July-September

Vedanta Ltd on Friday reported a 60.8 per cent decline in consolidated net profit at Rs 1,808 crore for the quarter ended September 30 on the back of higher expenses. The company had posted a consolidated net profit of Rs 4,615 crore in the year-ago period, Vedanta Ltd said in a regulatory filing. The company's expenses during the July-September period increased to Rs 33,221 crore from Rs 23, 171 crore in the year-ago period. Its consolidated income during the quarter under review increased to Rs 37,351 crore from Rs 31,074 crore last year. Vedanta is a diversified natural resources company.

Vedanta arm Balco wins bid for 900 mn tonne coal block in Chhattisgarh

Vedanta Ltd on Wednesday said that its arm Balco has won the bid for a coal block in Chhattisgarh. The company emerged as successful bidder for the mine during the fourth round of commercial coal mine auction conducted by the government. "The coal block is an optimal fit for Balco, given its logistical location," Vedanta said in a filing to BSE. Once operational, the mine will provide fuel security, enhance power availability, and further strengthen Balco's operations and performance. The block has estimated reserves of 900 million tonnes. Balco was incorporated in 1965 as the first public sector undertaking in the country. In 2001 the Centre disinvested 51 per cent shares of Bharat Aluminium Company Ltd (BALCO) to Sterlite Industries Limited, a subsidiary of Vedanta Limited. The remaining 49 per cent is with the Centre.

Anil Agarwal-led Vedanta group gets shareholder nod to rejig capital

The development acquires significance since Vedanta's holding company, Vedanta Resources, will receive nearly 70 per cent of the dividend to be distributed

Received 'quite a number of bids' for Sterlite Copper unit: Vedanta CEO

Diversified natural resources company Vedanta on Thursday said it has received "quite a number of bids" for its Sterlite Copper unit in Tamil Nadu, and is in the process of evaluating them

Vedanta to pay out Rs 7,250 cr on second interim dividend at Rs 19.5/share

So far, the company's dividend payout in FY23 stands at Rs 18,960 crore, ahead of FY22 total dividend of Rs 16,740 crore

Sensex zooms 934 pts, reclaims 52,500; Nifty tops 15,600; all sectors rally

CLOSING BELL: Beaten down PSB, Metal, and Energy (Oil and Gas) indices rose the most in today's trade. Related indices advanced between 4 per cent and 4.5 per cent

Vedanta plans to issue $1.5 billion dividend, lifting parent's bonds

The parent firm's dollar bonds rose the most in six weeks Friday, with the notes maturing in July hitting the highest level since October, according to Bloomberg-compiled data

Vedanta Ltd consol Q3 PAT up 27% YoY at Rs 4,189 crore on robust revenue

Net sales up 50% at Rs 33,697 crore; reported topline is a record consolidated quarterly revenue

Vedanta acquires Goa-based Nicomet; becomes only nickel producer in India

Nicomet has a capacity to produce 7.5 tonne per annum of nickel and cobalt.

Primary aluminium players seek import duty hike on premium products to 10%

Hindalco Industries and Anil Agarwal-led Vedanta Limited are private aluminium producers in the domestic market.

Promoters looking to up stake in Vedanta Ltd by upto 4.57%

The promoter group companies have a purchase offer size of up to 4.57 percent of total shares outstanding as of Sep-30, 2021

Vedanta mulls value-unlocking through separate listing of businesses

The board has also appointed various advisors to assist in evaluating the options, said the filing

Vedanta profit rises fivefold to Rs 4,615 crore on low-base effect

Low base effect drives better YoY show, bottom line up 9.2% sequentially

Vedanta consolidated Q1 PAT up four-fold at Rs 4,224 cr on revenue spike

Top line up 79% YoY at Rs 28,105 cr; lower base also spurs annual surge in bottomline