| IDCOL seeks new mines for Kalinga Iron Works | 13-NOV-09 |
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| The state owned Industrial Development Corporation of Orissa Limited (IDCOL) has sought allotment of new mines to meet the blast furnace (BF) grade ore requirement of Idcol Kalinga Iron Works Limited (IKIWL) located at Barbil. |
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| SFIO to probe Sesa Goa accounts | 27-OCT-09 |
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| The Serious Fraud Investigation Office (SFIO) has initiated an inquiry into Vedanta group company Sesa Goa. The scope includes verifying the past eight years’ financials, said a government official. “The investigation period also includes the time after Vedanta acquired Sesa Goa in April 2007. The movement of the share prices will be checked as part of the investigation,” said the official. |
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| Sesa Goa: Realisations drop | 22-OCT-09 |
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| Sesa Goa saw its profits and revenues fall a whopping 50 per cent and 38 per cent, respectively, on a year-on-year basis for the September 2009 quarter even as it sold more iron ore and pig iron. Although the performance includes the numbers of Dempo Mining, acquired in June this year, the Street was disappointed. |
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| Cos raises over Rs 14,000 cr in upbeat mkt | 28-SEP-09 |
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| Seven companies, including Reliance Industries and JP Associates, have raised over Rs 14,000 crore by way of treasury stock sale, private placements and bond issues in the second quarter of this fiscal. |
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| Sesa Goa to raise up to Rs 6,000 crore | 26-SEP-09 |
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| Iron ore exporter Sesa Goa said on Friday it would raise Rs 6,000 crore by issuing various securities in domestic and overseas markets for funding its business plans. |
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| Apex court allows Sesa Goa to conduct EGM | 09-JUL-09 |
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| The Supreme Court today allowed Anil Agarwal-led Sesa Goa to conduct its extraordinary general meeting for allocating preference shares to the promoters Vedanta Resources Ltd. |
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| 5 Indian firms in shortlist to exploit Afghan iron ore mine | 04-JUL-09 |
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| Five Indian metals and mining companies are in the race for acquiring mining rights for the largest iron ore deposit in war-torn Afghanistan. The government has shortlisted Vedanta group’s Sesa Goa, Essar Minerals, Ispat Industries, JSW Steel and Rashtriya Ispat Nigam for a bid for the 1.8 billion tonne Hajigak iron ore deposit. |
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| Sesa Goa: Asset mining | 23-JUN-09 |
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| Sesa Goa’s acquisition of Dempo Group’s iron ore assets in Goa bears a stamp of Vedanta Resources Chairman Anil Agarwal’s signature strategy — buy low-value assets, pump investments into them and work to turn them into cash cows. Vedanta’s previous acquisitions of Hindustan Zinc, Balco, Konkola Copper Mines and the 2007 takeover of Sesa Goa have helped the company multiply the value of its metals business. |
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| Sesa Goa : Mining growth | 13-JUN-09 |
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| Sesa Goa’s acquisition of Dempo’s mining assets will add to its earnings per share in the current year---analysts expect an increase of around 10-12 per cent. That apart, the deal has been done at a very reasonable valuation of around 4 times trailing EV/ebitda ( enterprise value/earnings before interest, tax depreciation). |
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| Dempo now looks at iron ore assets abroad | 13-JUN-09 |
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| For Shrinivas Dempo, the chairman of Dempo group, the sale of the Goa assets to London-listed Vedanta group’s subsidiary, Sesa Goa, is part of a larger plan in the mining sector that includes acquisition of overseas iron ore assets. |
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