Page 2 - Vedanta

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

HZL wins gold block, marks Vedanta group's entry into yellow metal business

Says it has been declared the "preferred bidder" for the Dugocha Gold Block, as confirmed by the Department of Mines and Geology, Rajasthan, via a notification dated November 15

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

Vinay Rajani of HDFC Securities recommends selling these 2 stocks today

Nifty has remained oversold for some time and it may be late for some profit booking. We may still see sell on rises in the near term

Stocks to watch, Nov 12: SBI, Britannia, Nykaa, Hindalco, ONGC, IRFC, LIC

Stocks to watch, Nov 12: Here are few stocks will be in focus for today's session

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 ...

Stocks to watch, Nov 11: Asian Paints, Britannia, Vedanta, REC, Tata Motors

Stocks to watch on Monday, November 11, 2024: Here are few stocks that will be in spotlight

Vedanta keeps cost guidance unchanged, pushes capital expenditure pedal

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

Vedanta, Oil India, Hindustan Zinc emerge top bidders in mineral auctions

The latest awards follow a second-round auction held after the initial round failed to attract sufficient interest, as the government mandates at least three technically qualified bids per block

Vedanta Q2 preview: Here's what to expect from mining major in Sept quarter

The September quarter results of Anil Agarwal-backed Vedanta are anticipated to be impacted by a mix of macroeconomic factors and segment-specific performance, according to domestic brokerages

Ajit Mishra of Religare Broking suggests buying these three stocks on Nov 7

The Nifty has retested resistance at the 24,500 mark after two days of recovery, and sustaining this level could lead to a further rise toward 24,800

Hindustan Zinc share price falls 8% as govt to sell 2.5% stake via OFS

The floor price for the offer for sale is fixed at Rs 505 per share. The two-day OFS opens for institutional bidders today and for retail investors on Thursday

Hindustan Zinc to invest up to $2 bn to double production capacity: CEO

Vedanta Group firm Hindustan Zinc plans to pump in up to USD 2 billion (around Rs 17,000 crore) to double its production capacity to 2 million tonnes in the next few years, its CEO Arun Misra said. The company which had already engaged consultants to ramp up its capacity is looking for mining partners for the same, Misra told PTI. "We have a plan of doubling the production to 2 million tonnes So, I am sure by the end of this quarter, we should be able to make project announcements, which projects, how much and where it is happening." he explained. The company is targetting a production capacity of 1.2 million tonnes (MT) in 2025, followed by 1.35 MT in 2026 and 1.8 MT in 2027, Misra said. "And then finally, sometime, we should be able to get 2 million tonnes," he explained. When asked about the investment the company plans to make to increase production capacity, he said, "Because most of the mining infrastructure is in place, so, it is anywhere between 2 billion dollars or 1.95

Vedanta Resources raises $300 mn through tap issue on existing bond issue

Vedanta Resources, the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, has raised USD 300 million by exercising the tap option on the existing bond issue. A tap issue is a procedure that allows companies to issue bonds or other short-term debt instruments from past issues. In a Singapore exchange filing Vedanta Resources Finance II PLC (VRF), a wholly-owned subsidiary of Vedanta Resources Ltd, said it has exercised a tap option on its September USD 900 million bond issuance, raising a further USD 300 million at a yield of 9.99 per cent, continuing its liquidity management exercise. The new issuance received final orders of over USD 500 million, an oversubscription from existing and new investors. Sixty-seven per cent of the allottees were from the Asia Pacific (APAC) region, 26 per cent from Europe and the Middle East, and seven per cent from the Offshore United States. The bonds are rated 'CCC+' by S&P Global Ratings. "The net proceeds from the tap option will be ...

Vedanta announces investments of Rs 1 trn in Rajasthan across verticals

Vedanta on Saturday said it will pump in over Rs 1 lakh crore in Rajasthan across different business verticals, including, zinc and oil and gas. While Hindustan Zinc, a Vedanta group firm, will invest Rs 30,000 crore to double zinc capacity from 1.2 million tonnes per annum (MTPA) to 2 MTPA, silver from 800 tonne to 2,000 tonne, and set up a one MTPA fertiliser plant, Cairn Oil & Gas, a subsidiary of Vedanta Ltd, will invest Rs 35,000 crore to augment capacity to 3 lakh barrels per day, the company said. Vedanta Group entity Serentica Renewables will invest Rs 50,000 crore to develop 10,000 MW renewable power capacity to support the investments, help energy transition and ensure highest environmental standards and green manufacturing, the company said in a statement. Vedanta also announced setting up of an industrial park around the Udaipur area on a non-profit basis, for small and medium scale industries from Rs 5 crore onwards. Vedanta participated in the Rising Rajasthan ...

Vedanta to invest Rs 1 trillion in various projects across Odisha

The firm added that this would create a massive industrial complex for downstream industries, as aluminium has hundreds of applications in sectors such as automotive, power, construction, and railways

Vedanta to invest Rs 1 trn in Odisha for alumina refinery, aluminium plant

Metal and mining major Vedanta on Friday announced an investment of Rs 1 lakh crore in Odisha to set up an alumina refinery and an aluminium plant in the state. The Anil Agarwal-led group has already invested Rs 1 lakh crore across assets in the state. The new investment will be in setting up a 6 million tonne per annum (MTPA) alumina refinery and a 3MTPA green aluminium plant, a statement from Vedanta said. It will create 2 lakh jobs in the state and help Odisha achieve its goal of becoming a USD 500 billion economy by 2030. Vedanta Chairman Anil Agarwal met Odisha Chief Minister Mohan Charan Majhi earlier during the day in the financial capital. Majhi is in Mumbai for a roadshow to be held on Saturday, ahead of an investor summit in Odisha in January 2025. Commenting on the new investment commitment, Agarwal said Odisha has always played an important role in Vedanta's growth and affirmed the company's commitment to drive large-scale industrialisation in the state. The new inves

Hindustan Zinc in discussions with govt to split company: CEO Arun Misra

Vedanta group firm Hindustan Zinc Ltd (HZL) on Friday reported 34.5 per cent rise in consolidated net profit at Rs 2,327 crore for the quarter ended September 30, 2024, on the back of higher income. The company had posted net profit of Rs 1,729 crore in the year-ago period. The income of the company in the July-September period rose to Rs 8,522 crore from Rs 7,014 crore in the corresponding quarter of the previous fiscal, HZL said in a filing to BSE. The company earned a revenue of Rs 6,403 crore in the second quarter from the zinc, lead and other segments, and Rs 1,550 crore from silver vertical. The board in its meeting held on Friday approved the investment of Rs 327 crore for minimum 26 per cent equity stake in Serentica Renewable India Private Ltd (SRIPL) or its affiliates. SRIPL was incorporated for the implementation of renewable energy power projects in order to cater to the long-term power requirement of HZL under a power delivery agreement. SRIPL or its affiliates will