Vedanta Chairman Anil Agarwal urged the government to impose a safeguard duty on aluminium imports, citing the metal's strategic role and rising global trade tensions
The mining major's net sales jumped by 13.9 per cent to Rs 40,455 crore in the January-March quarter on a year-on-year basis (YoY)
According to Vedanta's demerger scheme, every Vedanta shareholder will receive 1 additional share in each of the 4 newly demerged companies on the completion of the demerger process
Vedanta Resources Chairman Anil Agarwal says promoters will retain over 50% stake in each demerged entity; debt reduction to $3 billion targeted by FY27 without stake dilution
Goldman Sachs Asset Management through its affiliate Goldman Sachs Funds - Goldman Sachs India Equity Portfolio sold 10.3 million shares, amounting to a 2.13 per cent stake in Sterlite Technologies
It said it is the highest bidder with a final price offer of 1.10 per cent
Co has seen slew of high-level exits
Company's cost-saving measures and debt reduction expected to boost company's margin
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
Additionally, Vedanta remains committed to becoming a greener and more sustainable company by producing more and more of its major metals through renewable energy sources
The conglomerate looks to start production from its Zambia mines by FY25 end, with plans to supply the Indian market
The company's other income was down 59.8 per cent to Rs 934 crore on a Y-o-Y basis
Each demerged entity, he said, will plan its own course but follow Vedanta's core values, its enterprising spirit and global leadership
During the meeting, Agarwal reiterated the group's commitment to the progress of the state
To get access to the mine again, Vedanta now needs to follow the court ruling by releasing $250 million to settle debts that KCM owes to contractors and suppliers
The company is also exploring other avenues of fundraising, including equity sales and local currency loans from domestic banks, the people said
The Anil Agarwal group co value has risen by over 70 per cent this year. Analysts say operational efficiencies, cost reduction, improved operating profit, and proposed demerger have underpinned gains
Shares of Vedanta have gained 78% this year, giving the company a market value of about $20.6 billion
This is the second time that the company is raising funds in the current fiscal year. Last month, it said it would raise up to $300 million through debt securities
Agarwal is also planning to split the group into six listed companies by March 2025 to unlock value