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Vedanta Ltd News

Trump's steel tariff threat hammers related stocks; Nifty Metal falls 3%

Steel tariff Trump news: US President Donald Trump may announce a 25-per cent tariff across all the imports of steel and aluminum as early as Monday

Trump's steel tariff threat hammers related stocks; Nifty Metal falls 3%
Updated On : 10 Feb 2025 | 10:04 AM IST

S&P upgrades Vedanta Resources' rating on reduced refinancing risk

Vedanta Resources has seen its rating being upgraded in recent months after seeking to lower its debt and improve its capital structure

S&P upgrades Vedanta Resources' rating on reduced refinancing risk
Updated On : 03 Feb 2025 | 7:33 PM IST

Vedanta Q3 FY25 results: Net profit rises 76.2% to Rs 3,547 crore

During the quarter, the metals and oil & gas company reported a consolidated net profit of Rs 3,547 crore, compared to Rs 2,013 crore a year ago

Vedanta Q3 FY25 results: Net profit rises 76.2% to Rs 3,547 crore
Updated On : 31 Jan 2025 | 6:35 PM IST

Vedanta Q3 results: Net profit rises 76% to Rs 3,547 crore on higher income

Vedanta on Friday reported a 76.2 per cent rise in consolidated net profit at Rs 3,547 crore for the quarter ended December 31, 2024 due to higher income. The company had posted profit of Rs 2,013 crore in the year-ago period, Vedanta Ltd said in a filing to BSE. The company's consolidated income grew by 9.5 per cent to Rs 39,795 crore, over Rs 36,320 crore in the corresponding quarter of the previous fiscal. Vedanta's consolidated revenue for the third quarter stood at "Rs 38,526 crore, up four per cent Q-o-Q and 10 per cent Y-o-Y driven by favourable market prices and higher premiums." The total expenses of the company during the quarter grew to Rs 33,134 crore over Rs 32,215 crore in the year-ago period. "We have delivered our highest-ever 3rd quarter EBITDA of Rs 11,284 crore. Our strategic focus on cost optimisation and production ramp-up across our key businesses has helped us to continue delivering this outperformance. Notably, we witnessed a 58 per cent Y-o-Y jump in EBIT

Vedanta Q3 results: Net profit rises 76% to Rs 3,547 crore on higher income
Updated On : 31 Jan 2025 | 4:12 PM IST

Q3 results, Jan 31: Pfizer, Sun Pharma, ONGC, Nestle to post earnings today

Q3 FY25 company results, January 31: Vedanta, Nuvama, Punjab National Bank, IndusInd Bank, and Bandhan Bank will be among 135 companies to release their reports for the Oct-Dec quarter

Q3 results, Jan 31: Pfizer, Sun Pharma, ONGC, Nestle to post earnings today
Updated On : 31 Jan 2025 | 11:10 AM IST

Vedanta Q3 Preview: Here's what to expect from mining major in December qtr

A day ahead of the results, Vedanta shares were in demand, as the scrip rose up to 1.62 per cent to hit an intraday high of Rs 437.60

Vedanta Q3 Preview: Here's what to expect from mining major in December qtr
Updated On : 30 Jan 2025 | 1:34 PM IST

Vedanta's Rs 1 trillion aluminium refinery to be built in Odisha's Raygada

Mining conglomerate Vedanta on Tuesday said the company's Rs 1 lakh crore aluminium refinery and smelter project will be set up in Raygada district of Odisha. The first phase of the project is expected to be commissioned in the next three years, which will be expanded later, company Chairman Anil Agarwal said. Vedanta in October last year announced that it will make Rs 1 lakh crore investment in Odisha to build a 6 MTPA alumina refinery and a 3 MTPA green aluminium plant. However, the place where it will be set up was not revealed then. Speaking on the sidelines of the state's business conclave, Utkarsh Odisha-Make in Odisha, Agarwal said, We will establish the aluminium refinery of 6 million tonnes per annum (MTPA) capacity and aluminium smelter of 30 lakh tonne capacity in Rayagada district. The total investment will be around Rs 1 lakh crore. He said the mining conglomerate has got Sijimali bauxite mine in Rayagada district, which is now being developed for exploration. During

Vedanta's Rs 1 trillion aluminium refinery to be built in Odisha's Raygada
Updated On : 28 Jan 2025 | 5:32 PM IST

Fitch upgrades Vedanta Resources' long-term ratings with stable outlook

Fitch has upgraded Vedanta Resources Ltd's (VRL) long-term foreign-currency issuer default rating following a "significant reduction" in the company's refinancing risks. The rating agency upgraded VRL's senior unsecured rating to 'B+' from 'B-' and also changed the outlook to stable, according to a statement. Besides, it has upgraded "the ratings on the USD 300 million June 2028 bonds and USD 500 million December 2031 bonds, issued by VRL's subsidiary Vedanta Resources Finance II Plc (VRF2), and unconditionally and irrevocably guaranteed by VRL, to 'B+' from 'B-' with Recovery Rating of 'RR4'," the statement said. The upgrade follows a significant reduction in VRL's refinancing risks, after it raised USD 1.1 billion in new bonds and received bank commitments for loans worth USD 350 million at the holding company, formed by VRL and other offshore investment holding companies owned by VRL, in January 2025, the statement said. Once the proceeds are used to refinance existing debt, the

Fitch upgrades Vedanta Resources' long-term ratings with stable outlook
Updated On : 20 Jan 2025 | 5:39 PM IST

Vedanta quotes higher for fifth straight trading day; surges 12% in 1 week

Vedanta's consolidated Ebitda is expected to increase to more than Rs 44,000-45,000 cr by the end of FY25 (Rs 36,455 cr in FY24), supported by favourable prices and cost reduction

Vedanta quotes higher for fifth straight trading day; surges 12% in 1 week
Updated On : 20 Jan 2025 | 2:47 PM IST

Vedanta Resources raises $1.1 billion through dual tranche bond issuance

Mining mogul Anil Agarwal's Vedanta Resources has raised USD 1.1 billion through a new bond offering to prepay existing liabilities, the company said in a Singapore exchange filing. Vedanta Resources Finance II plc, a wholly owned subsidiary of Vedanta Resources, raised USD 1.1 billion through a new dual tranche issuance in international debt capital markets. Vedanta Resources Ltd (VRL) has raised USD 3.1 billion in USD bonds since September 2024. As per the exchange filing, the latest bond issuance consists of two tranches - a USD 550 million tranche of 5.5 years tenor at a 9.475 per cent interest rate and a USD 550 million tranche of 8.25 years tenor at a 9.850 per cent interest rate. Both tranches garnered strong investor demand with the bonds receiving final orders of USD 3.4 billion from over 135 accounts, representing an oversubscription of 3.1x, the company said. "The net proceeds from the offering of the Bonds will be used to prepay Vedanta's outstanding bonds (including a

Vedanta Resources raises $1.1 billion through dual tranche bond issuance
Updated On : 15 Jan 2025 | 3:36 PM IST

Vedanta creditors likely to meet in February to approve business split

Vedanta plans to divide its business into units focused on aluminum, oil & gas, power, steel and finally semiconductors, which will be left in the original business with electronics and copper assets

Vedanta creditors likely to meet in February to approve business split
Updated On : 15 Jan 2025 | 9:13 AM IST

Vedanta Resources secures $300 million loan commitment for debt refinancing

In September 2024, Vedanta Resources raised $900 million in its first dollar bond issue in more than two years and later raised $800 million through another dollar bond issue in November

Vedanta Resources secures $300 million loan commitment for debt refinancing
Updated On : 10 Jan 2025 | 3:57 PM IST

Western Carriers India bags Rs 139 cr material handling order from Vedanta

Western Carriers India Ltd (WCIL), a Kolkata-based logistics firm, has secured a material handling order worth Rs 139 crore from Vedanta Ltd, the company said on Wednesday. The order entails an import, finished goods domestic and export material handling contract at Vedanta's Jharsuguda plant for a duration of four years, WCIL said in a statement. "The order strengthens our relationship with Vedanta. This order opens avenues for future projects within the mining and mineral sector," CEO of WCIL Kanishka Sethia said. As of March 31, 2024, WCIL reported sales of Rs 1,685 crore, a nearly 3 per cent increase from the previous year. The company's net profit stood at Rs 80.35 crore, translating to a 12-per cent on-year growth. In September, the company, founded in 1972, raised Rs 492 crore via its maiden IPO at a price of Rs 172 per share. At 3.16 pm, the stock was trading at Rs 122 per share on the NSE.

Western Carriers India bags Rs 139 cr material handling order from Vedanta
Updated On : 03 Jan 2025 | 3:39 PM IST

S-P Global upgrades Vedanta's rating from B- to B with stable outlook

Vedanta Resources Limited (VRL), the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, has received a rating upgrade from S&P Global Ratings. The agency upgraded VRL's corporate family rating from 'B-' to 'B'. With this, VRL's rating by S&P has gone up by five notches from 'CC' in December last year. "We raised our issuer credit rating on Vedanta Resources Ltd. to 'B' from 'B-' and raised our issue ratings on the company's guaranteed bonds to 'B-' from 'CCC+'," the rating agency said. S&P said in its report that the upgrade comes after VRL obtained the minimum acceptances needed to close its consent solicitation exercise for 2028 bonds. "The stable outlook reflects our expectation that refinancing risks will be more manageable after the transaction given a newfound funding flexibility and improved capital market access," the agency said in its report. "The stable outlook also reflects the company's sound underlying operations, which should support internal cash .

S-P Global upgrades Vedanta's rating from B- to B with stable outlook
Updated On : 20 Dec 2024 | 8:44 PM IST

Vedanta to pay Rs 3,324 crore interim dividend to trim parent's debt pile

With the latest offer, the company's dividends have reached to about Rs 17,000 crore for the financial year through March 2025

Vedanta to pay Rs 3,324 crore interim dividend to trim parent's debt pile
Updated On : 16 Dec 2024 | 7:08 PM IST

Stock market crash: Dixon Tech, Ambuja, BHEL among stocks to buy on dips

Here are 5 F&O stocks that are trading with a PCR in excess of 1; Options data and technical charts suggest up to 14% upside for these stocks in the December series; key levels here.

Stock market crash: Dixon Tech, Ambuja, BHEL among stocks to buy on dips
Updated On : 13 Dec 2024 | 11:14 AM IST

Vedanta board to declare 4th interim dividend on Dec 16; share price up 2%

The uptick in the Vedanta share price came after the company announced that the Board will meet on Monday, December 16, 2024, to consider and approve the Fourth Interim Dividend on equity shares

Vedanta board to declare 4th interim dividend on Dec 16; share price up 2%
Updated On : 12 Dec 2024 | 9:58 AM IST

Vedanta hits all time high, m-cap tops Rs 2 trn; up over 100% in a year

The stock price also reached global brokerage CLSA's and Motilal Oswal's target price of Rs 520 per share

Vedanta hits all time high, m-cap tops Rs 2 trn; up over 100% in a year
Updated On : 11 Dec 2024 | 1:23 PM IST

Vedanta faces Rs 1.71 crore penalty in FY18 GST dispute over cenvat credit

Vedanta plans to challenge GST orders as it disputes penalties over transitional credit from FY18

Vedanta faces Rs 1.71 crore penalty in FY18 GST dispute over cenvat credit
Updated On : 10 Dec 2024 | 3:02 PM IST

Vedanta soars 7% amid heavy volumes on healthy outlook

Last month, Vedanta said that demerger on track and in its final stages, with shareholder and creditor meetings scheduled in the coming months.

Vedanta soars 7% amid heavy volumes on healthy outlook
Updated On : 06 Dec 2024 | 2:46 PM IST