Page 2 - Anil Agarwal

Goldman Sachs Asset exits Sterlite Tech, sells 2.13% stake for Rs 84 crore

Goldman Sachs Asset Management on Wednesday divested a little over 2 per cent stake in Anil Agarwal promoted-Sterlite Technologies for Rs 84 crore through an open market transaction. Goldman Sachs Asset Management through its affiliate Goldman Sachs Funds - Goldman Sachs India Equity Portfolio sold 1.03 crore shares, amounting to a 2.13 per cent stake in Sterlite Technologies, according to BSE data. The shares were offloaded at an average price of Rs 81.04 apiece, taking the deal value to Rs 84.10 crore. Meanwhile, Bandhan Mutual Fund bought 60.11 lakh shares or 1.23 per cent stake in Sterlite Technologies for Rs 48.69 crore. The shares were acquired at an average price of Rs 81 apiece. Details of the other buyers of Sterlite Technologies' shares could not be ascertained on the BSE. The stock of Sterlite Technologies fall 4.02 per cent to close at Rs 80.29 apiece on the BSE.

Vedanta declared preferred bidder for diamond block in Madhya Pradesh

It said it is the highest bidder with a final price offer of 1.10 per cent

Anil Agarwal's Vedanta seeks top talent for newly formed companies

Co has seen slew of high-level exits

Hindustan Zinc shares up 13% in two weeks, rally likely to continue

Company's cost-saving measures and debt reduction expected to boost company's margin

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, ...

Vedanta Resources debt reduced by $4.7 bn in 2 years, says Anil Agarwal

Debt at Vedanta Resources - the parent firm of the Mumbai-listed mining conglomerate Vedanta Ltd - has been cut by USD 4.7 billion in two years as financial discipline helped deleverage the group, its chairman Anil Agarwal said. In a letter to shareholders, he said Vedanta Ltd delivered its highest-ever EBITDA of Rs 20,639 crore in the first half of the current fiscal year as a result of "focus on achieving higher production levels, driving operational excellence, and successfully navigating a dynamic global environment". Vedanta's aluminium and zinc production volumes have reached record levels. "In the near future, we are aiming to double the production levels at our subsidiary, Hindustan Zinc Ltd, increase oil production at Cairn Oil & Gas to 3 lakh barrels of oil equivalent per day, and increase the capacity at our aluminium smelter to 3 million tonnes per annum," he said. Additionally, Vedanta remains committed to becoming a greener and more sustainable company by producing ..

After KCM revival, Vedanta seeks greener pastures in India, abroad

The conglomerate looks to start production from its Zambia mines by FY25 end, with plans to supply the Indian market

Vedanta Q1 FY25 results: Net profit rises 36.6% to Rs 3,606 crore

The company's other income was down 59.8 per cent to Rs 934 crore on a Y-o-Y basis

Vedanta going ahead with demerger of businesses, says Anil Agarwal

Vedanta Chairman Anil Agarwal on Wednesday said that the company is going ahead with the proposed demerger of its businesses that will lead to formation of six firms and unlocking of massive value. The company has received approvals from the majority of its creditors for a proposed demerger of businesses, marking an important step in the company's plan to split into six independent listed companies. Addressing shareholders during the 59th Annual General Meeting, the Chairman said, "We are going ahead with the demerger of our businesses, which will lead to the creation of 6 strong companies, each a Vedanta in its own right. This will unlock massive value." Each demerged entity, he said, will plan its own course but follow Vedanta's core values, its enterprising spirit and global leadership. "As we stand on the brink of an amazing transformation, our josh is high," Agarwal said, adding, "the demerger will lend speed to our journey." Each entity will have more independence with regar

Vedanta group chairman Agarwal, Odisha CM discuss areas of collaboration

Vedanta group on Saturday said its Chairman Anil Agarwal met Odisha Chief Minister Mohan Charan Majhi and discussed new areas of collaboration to accelerate the state's transformative journey and enhance its industrial development. During the meeting, Agarwal reiterated the group's commitment to the progress of the state, Vedanta said in a statement. The discussion focused on identifying new areas of collaboration that could further accelerate Odisha's transformative journey, enhancing the state's industrial and socio-economic development, it said. "My meeting with Majhi Ji was highly productive, and we discussed our shared vision for Odisha's growth. Under his capable leadership, our longstanding partnership will continue to thrive, driving the state to greater heights," Agarwal said. Vedanta group has made significant investments in Odisha, amounting to more than Rs 1 lakh crore. This is the conglomerate's largest ever investment anywhere in the world. These investments have led

Court approves billionaire Anil Agarwal's plan to reclaim Zambia mine

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

Vedanta mulls first dollar bond sale of $500 mn in debut overseas issuance

The company is also exploring other avenues of fundraising, including equity sales and local currency loans from domestic banks, the people said

Vedanta target price raised 15%; M&M stock surges 91% in 5 months

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

Anil Agarwal's Vedanta considering $1 bn share sale in coming weeks

Shares of Vedanta have gained 78% this year, giving the company a market value of about $20.6 billion

Anil Agarwal-led Vedanta's board approves fundraise of up to Rs 8,500 cr

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

Anil Agarwal's Hindustan Zinc to pay $506 mn dividend to ease debt burden

Agarwal is also planning to split the group into six listed companies by March 2025 to unlock value

Vedanta Group planning to invest $20 bn in India in 4 years: Anil Agarwal

The Vedanta Group is targeting an investment of USD 20 billion across all its businesses in India over the next four years, its Chairman Anil Agarwal said on Wednesday. The investments will be focused on technology, electronics, and glass businesses apart from the other activities that the group is engaged in, Agarwal told reporters here. The billionaire from Bihar said he wants to play the role of a catalyst in helping his home state grow, but said there is a need for a strong support from the policy front for it. He was speaking on the sidelines of an event where the mining-focused group announced to scale up its philanthropic activities. The group wants to take the total number of Nand Ghars, under which it takes care of children's nutritional requirements at the villages, to 25,000 over the next two years from the present 6,000, he said.

FY25 will be a transformative year for Vedanta on many fronts: Anil Agarwal

Mining tycoon Anil Agarwal has said the current financial year that started on April 1 will be a transformative year for his conglomerate Vedanta as it prioritises disciplined growth while parent eyes a USD 3 billion deleveraging in the next three years. In a communication to shareholders, Vedanta Ltd Chairman Agarwal said the group will pursue sustainable growth while maintaining a healthy balance sheet. "These include further deleveraging (parent) Vedanta Resources by USD 3 billion in the next 3 years and achieving an annual group EBITDA of USD 7.5 billion within 2 years," he said. "FY25 will be a transformative year for us on many fronts as we prioritise disciplined growth, operational excellence, and exploring opportunities along the value chain," he said. Vedanta had previously stated that it will invest USD 6 billion across businesses that span from aluminium and zinc to iron ore, steel and oil and gas, which is expected to generate incremental revenue of over USD 6 billion a

Ex-BofA veteran overseeing Vedanta Group's restructuring steps down

Davis, who was named as president for strategy at Vedanta Resources Ltd. last year, was working closely with the group's lenders and shareholders

Vedanta gains 14% in five sessions. Here are four factors fuelling rally

Commodity major's stock has hit its highest level since February 2023