Page 11 - Vedanta

Stocks to watch, Nov 12: SBI, Britannia, Nykaa, Hindalco, ONGC, IRFC, LIC

Stocks to watch, Nov 12: Here are few stocks will be in focus for today's session

Vedanta Ltd plans to invest around $550 million in AvanStrate Inc

AvanStrate has operations and R&D capabilities across Taiwan, South Korea, and Japan

Vedanta plans to invest $500 mn in display glass maker AvanStrate Inc

Metals and mining giant Vedanta Ltd is planning to invest close to USD 500 million in its display glass unit AvanStrate Inc, the company said on Monday. Vendanta Group has expressed interest in setting up a display semiconductor manufacturing unit in India. "Vedanta Limited is planning to invest close to USD 500 million (about Rs 4,300 crore) in its group company, AvanStrate Inc. (ASI), a leading global display glass manufacturer that is now fully managed by Vedanta Limited," it said in a statement. The company plans to make this strategic investment to drive innovation and expansion within ASI, strengthening its focus on research and development, as well as manufacturing capabilities and product offerings to cater to the growing global demand for advanced display glass solutions, the statement said. "This strategic investment from Vedanta Group is reflective of our clear and definitive shift in focus toward significant growth-oriented projects. We are confident that ASI's ...

Stocks to watch, Nov 11: Asian Paints, Britannia, Vedanta, REC, Tata Motors

Stocks to watch on Monday, November 11, 2024: Here are few stocks that will be in spotlight

Vedanta keeps cost guidance unchanged, pushes capital expenditure pedal

Anil Agarwal, in a shareholder message, highlights doubling of capacities across its key businesses

Vedanta, Oil India, Hindustan Zinc emerge top bidders in mineral auctions

The latest awards follow a second-round auction held after the initial round failed to attract sufficient interest, as the government mandates at least three technically qualified bids per block

Vedanta Q2 preview: Here's what to expect from mining major in Sept quarter

The September quarter results of Anil Agarwal-backed Vedanta are anticipated to be impacted by a mix of macroeconomic factors and segment-specific performance, according to domestic brokerages

Ajit Mishra of Religare Broking suggests buying these three stocks on Nov 7

The Nifty has retested resistance at the 24,500 mark after two days of recovery, and sustaining this level could lead to a further rise toward 24,800

Hindustan Zinc share price falls 8% as govt to sell 2.5% stake via OFS

The floor price for the offer for sale is fixed at Rs 505 per share. The two-day OFS opens for institutional bidders today and for retail investors on Thursday

Hindustan Zinc to invest up to $2 bn to double production capacity: CEO

Vedanta Group firm Hindustan Zinc plans to pump in up to USD 2 billion (around Rs 17,000 crore) to double its production capacity to 2 million tonnes in the next few years, its CEO Arun Misra said. The company which had already engaged consultants to ramp up its capacity is looking for mining partners for the same, Misra told PTI. "We have a plan of doubling the production to 2 million tonnes So, I am sure by the end of this quarter, we should be able to make project announcements, which projects, how much and where it is happening." he explained. The company is targetting a production capacity of 1.2 million tonnes (MT) in 2025, followed by 1.35 MT in 2026 and 1.8 MT in 2027, Misra said. "And then finally, sometime, we should be able to get 2 million tonnes," he explained. When asked about the investment the company plans to make to increase production capacity, he said, "Because most of the mining infrastructure is in place, so, it is anywhere between 2 billion dollars or 1.95

Vedanta Resources raises $300 mn through tap issue on existing bond issue

Vedanta Resources, the parent firm of Mumbai-based mining conglomerate Vedanta Ltd, has raised USD 300 million by exercising the tap option on the existing bond issue. A tap issue is a procedure that allows companies to issue bonds or other short-term debt instruments from past issues. In a Singapore exchange filing Vedanta Resources Finance II PLC (VRF), a wholly-owned subsidiary of Vedanta Resources Ltd, said it has exercised a tap option on its September USD 900 million bond issuance, raising a further USD 300 million at a yield of 9.99 per cent, continuing its liquidity management exercise. The new issuance received final orders of over USD 500 million, an oversubscription from existing and new investors. Sixty-seven per cent of the allottees were from the Asia Pacific (APAC) region, 26 per cent from Europe and the Middle East, and seven per cent from the Offshore United States. The bonds are rated 'CCC+' by S&P Global Ratings. "The net proceeds from the tap option will be ...

Vedanta announces investments of Rs 1 trn in Rajasthan across verticals

Vedanta on Saturday said it will pump in over Rs 1 lakh crore in Rajasthan across different business verticals, including, zinc and oil and gas. While Hindustan Zinc, a Vedanta group firm, will invest Rs 30,000 crore to double zinc capacity from 1.2 million tonnes per annum (MTPA) to 2 MTPA, silver from 800 tonne to 2,000 tonne, and set up a one MTPA fertiliser plant, Cairn Oil & Gas, a subsidiary of Vedanta Ltd, will invest Rs 35,000 crore to augment capacity to 3 lakh barrels per day, the company said. Vedanta Group entity Serentica Renewables will invest Rs 50,000 crore to develop 10,000 MW renewable power capacity to support the investments, help energy transition and ensure highest environmental standards and green manufacturing, the company said in a statement. Vedanta also announced setting up of an industrial park around the Udaipur area on a non-profit basis, for small and medium scale industries from Rs 5 crore onwards. Vedanta participated in the Rising Rajasthan ...

Vedanta to invest Rs 1 trillion in various projects across Odisha

The firm added that this would create a massive industrial complex for downstream industries, as aluminium has hundreds of applications in sectors such as automotive, power, construction, and railways

Vedanta to invest Rs 1 trn in Odisha for alumina refinery, aluminium plant

Metal and mining major Vedanta on Friday announced an investment of Rs 1 lakh crore in Odisha to set up an alumina refinery and an aluminium plant in the state. The Anil Agarwal-led group has already invested Rs 1 lakh crore across assets in the state. The new investment will be in setting up a 6 million tonne per annum (MTPA) alumina refinery and a 3MTPA green aluminium plant, a statement from Vedanta said. It will create 2 lakh jobs in the state and help Odisha achieve its goal of becoming a USD 500 billion economy by 2030. Vedanta Chairman Anil Agarwal met Odisha Chief Minister Mohan Charan Majhi earlier during the day in the financial capital. Majhi is in Mumbai for a roadshow to be held on Saturday, ahead of an investor summit in Odisha in January 2025. Commenting on the new investment commitment, Agarwal said Odisha has always played an important role in Vedanta's growth and affirmed the company's commitment to drive large-scale industrialisation in the state. The new inves

Hindustan Zinc in discussions with govt to split company: CEO Arun Misra

Vedanta group firm Hindustan Zinc Ltd (HZL) on Friday reported 34.5 per cent rise in consolidated net profit at Rs 2,327 crore for the quarter ended September 30, 2024, on the back of higher income. The company had posted net profit of Rs 1,729 crore in the year-ago period. The income of the company in the July-September period rose to Rs 8,522 crore from Rs 7,014 crore in the corresponding quarter of the previous fiscal, HZL said in a filing to BSE. The company earned a revenue of Rs 6,403 crore in the second quarter from the zinc, lead and other segments, and Rs 1,550 crore from silver vertical. The board in its meeting held on Friday approved the investment of Rs 327 crore for minimum 26 per cent equity stake in Serentica Renewable India Private Ltd (SRIPL) or its affiliates. SRIPL was incorporated for the implementation of renewable energy power projects in order to cater to the long-term power requirement of HZL under a power delivery agreement. SRIPL or its affiliates will

Vedanta Resources repays $869 mn in Oct to redeem bonds due in 2027, 2028

Vedanta Resources Ltd has said it paid USD 869 million to bondholders in October to redeem bonds three to four years ahead of maturity. The repayments are part of a larger liquidity management exercise under which Vedanta Resources Finance II PLC (VRF) -- a wholly-owned subsidiary of Vedanta Resources Ltd -- is repaying bonds with a higher interest rate to save on interest costs. VRF has repaid USD 869 million to bondholders holding 13.875 per cent bonds due in 2027 and 2028, respectively. According to the company's various Singapore exchange filings, the payments were made in multiple phases during October. For the 13.875 per cent bonds due in 2027, the company repaid USD 470 million, as per filings on October 4 and October 9. As per VRF's exchange filing, with the repayment on October 4, the 2027 bonds have been fully redeemed and are no longer outstanding. Similarly, the company has repaid USD 399 million to those holding its 13.875 per cent bonds due in 2028. As per a Septem

Top energy, commodity, infra companies see senior management churn

Talent firms and industry executives list evolving strategies, business growth as contributing to attrition at senior management level

Dividend, stock-split: IDFC, ARC Finance, Vedanta, 3 others in focus today

Here's the complete list of stocks trading ex-date tomorrow, along with their respective corporate announcements, and other key details

Dividend, bonus, stock-split: Vedanta, Jindal Saw, 2 others in focus today

Here is the complete list of stocks that will be closely watched by investors today due to corporate announcements such as dividends, bonuses, or subdivisions

Hockey India League: Vedanta acquires hockey team Kalinga Lancers

Vedanta Ltd on Friday announced acquisition of Bhubaneswar-based hockey team Kalinga Lancers ahead of Hockey India League (HIL). This acquisition reinforces the company's commitment to promoting sports in Odisha, a region where Vedanta has played a key role in socio-economic development for over two decades. The Kalinga Lancers, former HIL champions, were previously co-owned by Odisha Industrial Infrastructure Development Corporation (IDCO) and Mahanadi Coalfields Limited (MCL). Vedanta Aluminium now assumes full ownership. "With our acquisition of the Kalinga Lancers, we are investing not only in the team but also in the future of Indian hockey," Priya Agarwal Hebbar, Non-Executive Director, Vedanta Ltd and Chairperson of Hindustan Zinc said. Vedanta's focus will be on assembling a competitive team for the upcoming HIL season, while bolstering infrastructure, securing sponsorships, and exploring partnerships to strengthen the Lancers' position in the league. Vedanta operates an