Page 10 - Hindustan Zinc

Government to exit Hindustan Zinc Ltd, but over an extended period

The residual stake is valued at approximately Rs 40,000 crore at current market prices

Vedanta Ltd arm Hindustan Zinc gets Rs 1.81 crore tax penalty order

Vedanta Ltd on Monday said the tax authorities have imposed a penalty of Rs 1.81 crore on its subsidiary Hindustan Zinc. The order was received on Sunday, October 8, Vedanta Ltd informed the exchanges. "The company has received an order from Assistant Commissioner, Div-A, Central GST Audit Circle, CGST, Udaipur imposing a penalty of Rs. 1,81,06,073/- under Section 74(9) of the CGST Act 2017 read with corresponding provisions of the SGST Act, 2017 and Section 20 of IGST Act, 2017 for the period July 2017 to March 2018," Vedanta Ltd said. "The order has been passed on the contention that the company had wrongly availed input tax credit," it said. The company further said it is hopeful of a favourable outcome at the appellate level and does not expect the order to have any financial impact on the company.

GreenLine will invest Rs 200 cr for deploying LNG trucks for Hindustan Zinc

Hindustan Zinc Ltd has signed a deal to deploy GreenLine Mobility Solution Ltd's LNG-powered fleet in its supply chain and transportation operations, India's first and the only LNG-fuelled heavy trucking logistics company said on Wednesday. In a statement, GreenLine said it will invest Rs 200 crore for deploying LNG-powered trucks for Hindustan Zinc's road logistics. "Hindustan Zinc, India's largest and only integrated producer of zinc, lead and silver, has chosen GreenLine Mobility Solutions Ltd (GreenLine), a part of Essar Group and a pioneer in green mobility solutions, as its sustainable logistics partner and is set to deploy GreenLine's LNG-powered fleet in its supply chain and transportation operations," it said. LNG-powered vehicles significantly reduce emissions compared to diesel and align perfectly with the sustainability goals of both organizations. This initiative will not only reduce the carbon footprint associated with transportation but also set new industry standards

Lenders unlikely to clear Anil Agarwal's Vedanta spinoff in hurry

To scrutinise rationale for recast, structural details, plans for each unit

Hindustan Zinc's mined metal output drops to 252,000 tonnes in Jul-Sept qtr

Vedanta group firm Hindustan Zinc Ltd on Monday said its production of mined metal dropped marginally by one per cent to 2,52,000 tonnes in the second quarter of the ongoing fiscal. Hindustan Zinc Ltd's (HZL) mined metal production was 2,55,000 tonnes in the second quarter of the previous fiscal. "Mined metal production in the second quarter at 252kt, marginally down YoY and two per cent down sequentially mainly due to lower ore production at Rampura Agucha & Kayad mine partly offset by better overall metal grades," HZL said in a filing to BSE. The company's refined metal output in the second quarter at 2,41,000 tonnes, dropped by two per cent over the corresponding quarter of previous fiscal. "Integrated zinc production at 185kt, down 2 per cent as compared to 2QFY23 and down 12 per cent sequentially. "Refined lead production at 57kt, flat as compared to 2QFY23 and up 12 per cent sequentially on account of pyro plant operations on Lead mode during this quarter," the filing ...

Anil Agarwal's Vedanta to split biz into 6 companies to unlock value

For every share of the company, stockholders to get one additional share of each of 5 new entities

Vedanta hopeful of Centre's support for Hindustan Zinc Ltd overhaul

Company executives from both HZL and Vedanta said they expect government support for the move and it will help the government ease in with its earlier considered divestment programme

Hindustan Zinc plans to create separate entities for its commodities

Hindustan Zinc Ltd said in a statement that it would create different legal entities for its zinc & lead, silver, and recycling businesses

Moody's downgrades Vedanta Resources' corporate family rating to Caa2

Moody's has also downgraded to Caa3 from Caa2 its rating on the senior unsecured bonds issued by VRL

Indian billionaire Anil Agarwal mulls listing Vedanta businesses separately

The plans stand in contrast to Agarwal's attempts in 2020 to delist Vedanta Ltd to expedite the process of simplifying its corporate structure, which failed

Hindustan Zinc will ramp up production of zinc to 1.5 mn tonnes: Chairman

Hindustan Zinc Ltd will ramp up production of zinc - that is used in batteries to medicines - to 1.5 million tonnes, chairperson Priya Agarwal Hebbar said on Thursday as she looked to make India's largest zinc producer as one of the best firms in the world. Speaking at the company's annual shareholders meeting, she said when the economic history of 21st-century India is written, the turnaround story of Hindustan Zinc will have a chapter of its own. Incorporated as a public sector firm in 1996, the Atal Bihari Vajpayee-led NDA government in August 2002 sold a controlling stake in the firm to Vedanta group firm Sterlite Industries for around Rs 769 crore. Hindustan Zinc is today the second largest zinc-lead miner in the world after Swiss firm Glencore and the fourth largest zinc-lead smelter globally. It has now also broken into the top 10 list of silver producers in the world. The profitability has grown manyfold and so has its production capacity of zinc, lead and silver - from 0.2

Hindustan Zinc keen to participate in lithium auctions: CEO Arun Mishra

Hindustan Zinc Ltd (HZL) is keen to acquire lithium assets as and when they are put on the block for auctions, CEO Arun Mishra said. Lithium reserves of about 5.9 million tonnes have been identified in Salal-Haimna areas of Reasi district in Jammu and Kashmir (J&K) for the first time in India. Auctions of the said reserves are likely to be held in December. The J&K administration is also in the process of appointing a transaction advisor. "Absolutely. Why not?" Hindustan Zinc is already in the base metal (sector). Whatever lithium asset will come it will be strategic interest, Mishra told PTI in reply to a question on plans of acquiring lithium reserves. The CEO further said, "As base metals are our (company's) area of interest and lithium being one of them, we look forward to exploring the opportunities as such metals are going to be the future which will drive the new world." Therefore, HZL is open to participate in auctions for the lithium reserves, he added. Lithium is a ..

Hindustan Zinc Q1 results: Net profit down 36.5%, as revenue dips 23% YoY

The operating margin for the company's business also saw a downfall from 48 per cent in Q1FY23 to 35 per cent in Q1FY24

Hind Zinc rallies 8%; board to consider interim dividend for FY24 on July 8

The record date for the eligibility of interim dividend payment, if any, will be Saturday July 15, 2023, Hindustan Zinc said in a filing

Vedanta explores refinancing, brand monetisation for timely debt repayments

To ensure enough funds, Vedanta Limited has increased the percentage of royalty from 2 to 3 per cent beginning this year

Promoters of the group can't dispose of Vedanta shares, says lender

Vedanta stake was pledged from 2020 onwards by the group's promoter Anil Agarwal to raise funds

Stocks to Watch today, May 26: Voda Idea, Hind Zinc, RIL, SAIL, Zee, Emami

Stocks to watch on May 26, 2023: BEML, BHEL, Grasim, M&M, ONGC, Shree Renuka Sugars, Sun Pharma and Wockhardt among prominent companies scheduled to announce Q4 results on Friday.

Anil Agarwal's Vedanta pledges nearly all its HZL stake to raise funds

Fresh loan of $850 million raised from JPMorgan Chase, Oaktree

Anil Agarwal's Vedanta pledges almost its entire stake in Hindustan Zinc

Vedanta created a pledge of 3.3% of its total equity or 13.94 crore shares in favour of Axis Trustee Services on May 23

Anil Agarwal's Vedanta in talks with banks to raise at least $500 million

The group has been depending on money from its units to tackle its debt load, especially after it failed to sell some zinc assets to Hindustan Zinc Ltd for $3 billion