In Short : “Vedanta’s Q4 results show a 27% decline in net profit to Rs 1,369 crore, attributed to the impact of Tuticorin operations, reflecting challenges in the company’s financial performance.” In Detail : India-listed Vedanta reported a 27.2 per cent dip in its net profit for the quarter ended March 2024 (Q4FY24) as revenues […]
Vedanta’s Hindustan Zinc Becomes the 3rd Largest Producer of Silver Globally – EQ
In Short – Vedanta’s Hindustan Zinc ascends to become the world’s third-largest silver producer, underscoring its global prominence in mining operations, driving economic growth, and reaffirming India’s position in the international silver market. In Details – Hindustan Zinc Limited – a Vedanta group company in zinc-lead-silver business has now become the 3rd largest* silver […]
Vedanta gets nod to raise up to Rs 3,400 crore via NCDs – EQ
In Short : If Vedanta has indeed received approval for such an issuance, it suggests that the company is planning to raise capital through the issuance of NCDs. Non-Convertible Debentures are debt instruments that cannot be converted into equity shares and typically offer fixed interest rates. In Detail : Mining conglomerate Vedanta Ltd on Tuesday […]
Vedanta appoints John Slaven as CEO of aluminium business – EQ Mag
Vedanta appoints John Slaven as CEO of aluminium business and Stephen Russell Moore, COO of Cairn Oil & Gas has been appointed as Deputy CEO, Cairn Oil & Gas Vedanta Ltd on Friday announced top-level changes at its subsidiaries while its stock was trading 3% lower. Vedanta Limited has appointed John Slaven as the Chief […]
India’s Vedanta says it’s awaiting govt nod for semiconductor plant in Gujarat – EQ Mag
BENGALURU : India’s Vedanta is awaiting government approval for incentives under a modified semiconductor production plan to begin construction of a plant in the country’s western state of Gujarat, for which its has tapped technology and equity partners, a top executive said on Tuesday. The metals-to-oil conglomerate has engaged with more than 100 global suppliers […]
Vedanta appoints Sonal Shrivastava as CFO – EQ Mag
A bachelor’s in chemical engineering from BIT, Sindri and an MBA from the Jamnalal Bajaj Institute of Management Studies, she comes with over 26 years of financial leadership experience across sectors, the mining major said in a statement. Vedanta Ltd on Monday announced appointment of Sonal Shrivastava as its Chief Financial Officer (CFO) effective June […]
Vedanta net profit falls 57%; plans USD 1.7 bn capex across businesses – EQ Mag
Consolidated net profit of Rs 3,132 crore in January-March is compared with Rs 7,261 crore net earning in the same period a year back, according to a stock exchange filing by the company. Mining giant Vedanta on Friday reported 57 per cent drop in March quarter net profit on weakness in aluminium business and write-offs. […]
Reliance, Adani, Vedanta among companies in race for Bhadreshwar Vidyut – EQ Mag
Reliance Industries, Adani Power, Torrent Power, Vedanta and Jindal Power are among 14 companies that have shown interest in acquiring Gujarat-based Bhadreshwar Vidyut, which is undergoing insolvency, said people aware of the development. This is the third bankrupt power producer for which two of the country’s largest corporate houses – Reliance Industries and the Adani […]
Vedanta arm Balco signs pact with SRIPL to source hybrid renewable power – EQ Mag
The project will be funded on a 70:30 debt to equity basis and BALCO will own 26 per cent equity in the SPV BALCO has entered into an agreement with Serentica Renewables India Private Ltd (SRIPL) to set up a special purpose vehicle to source hybrid renewable power for its aluminium operations in Chhattisgarh. Bharat […]
Vedanta to acquire Meenakshi Energy for Rs 1,440 cr – EQ Mag
The mineral and metal miner said that it will acquire the debt- laden power company, Meenakshi Energy for a total cash consideration of Rs 1,140 crore In an exchange filing, the mining company said, “Post submission of bid for Meenakshi Energy under Corporate Insolvency Resolution Process (CIRP) under Insolvency and Bankruptcy Code (IBC), Vedanta has […]