Page 23 - Vedanta

Vedanta's aluminium production rises 2% to 594,000 tonnes in Jul-Sept

Vedanta on Tuesday said that its total aluminium production increased by two per cent to 5,94,000 tonnes in the second quarter of the ongoing fiscal. The company's total aluminium output in the July-September period of the last fiscal was 5,84,000 tonnes, Vedanta said in a filing to BSE. The mined metal output at Zinc India was marginally down to 2,52,000 tonnes, over 2,55,000 tonnes in the year-ago period. At Zinc International, the company's total mined metal output was down by 10 per cent to 66,000 tonnes, over 74,000 tonnes. The company's "overall production at 66 kt, (was) lower by 10 per cent YoY and 3 per cent QoQ largely due to lower tonnes treated", it said. The company further said that its saleable steel production increased 17 per cent Y-o-Y to 3,78,000 tonnes on account of improved operational efficiency and higher production capacity post debottlenecking carried out in FY23. Power sales increased by 12 per cent to 4,048 million units (MU), over 3,615 MU in the year

Vedanta to complete sale of steel assets by March 2024: Anil Agarwal

In an interview, Agarwal said the response to the steel and iron business will help the company reduce debt

Sensex down 316pts, Nifty below 19550 amid global selling; JSW Infra up 32%

Closing Bell on October 3, 2023: In the broader markets, the key indices outperformed the frontline indices with the BSE MidCap index gaining 0.09%, and the BSE SmallCap index advancing 0.6%

Vedanta split unlikely to help parent's near-term debt crisis: Analysts

Vedanta Resources, is battling a host of rating downgrades triggered by worries over outstanding dues - $6.4 billion as of May - according to the company

Vedanta gains 4% as board approves to split firm's biz into 6 companies

The company on Friday after market hours announced its plan to demerge its existing business verticals into six independent 'pure play' companies.

Stocks to Watch today: Vedanta, JSW Infra, UTI AMC, Autos, MGL, Adani Green

Stocks to Watch on Tuesday, October 3, 2023: JSW Infrastructure will debut on the bourses on October 3, 2023

Asset divestment needed to resolve Vedanta's debt crisis: Analysts

VRL has debt repayments of $ 3.6 billion due in FY25, including $ 2.2 billion in bonds, and poses a significant funding gap of $ 3.1 billion

Vedanta's dollar bonds decline after plan to split up biz to tackle debt

All four junk-rated notes were indicated lower on Monday, Bloomberg-compiled data showed. The August 2024 bond posted the biggest drop, down 0.6 cents on the dollar to 62.6 cents

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

S&P Global Ratings downgrades Vedanta Resources, puts it on credit watch

Vedanta to spin off, list six businesses to fuel growth

Vedanta to spin off, list six businesses to attract big-ticket investment

The six units being planned to be listed are Vedanta Aluminium, Vedanta Oil & Gas, Vedanta Power, Vedanta Steel and Ferrous Materials, Vedanta Base Metals and Vedanta Limited

Vedanta raises funds at higher rates amid company rejig, say bankers

The company will offer a coupon of 12%, payable on a quarterly basis to investors of the issue, which is unrated, bankers said, adding that the coupon on an annualised basis works out to be around 13%

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

Anil Agarwal's Vedanta Resources readies ground for spinoff to tackle debt

As recently as last month, Anil Agarwal in a message to shareholders indicated plans to explore the creation of independent entities for some or all of Vedanta's businesses

IT shares, RIL, F&O expiry send Sensex 610 pts down, Nifty near 19,500

Closing Bell on September 28, 2023: Tech M, which sank 4 per cent, was the top laggard on the benchmarks after Morgan Stanley downgraded the stock to 'underweight'

Vedanta tanks 6% as Moody's downgrades corporate family rating to Caa2

The downgrade reflects the elevated risk of debt restructuring over the next few months because VRL has not made any meaningful progress on refinancing its upcoming debt maturities, Moody's said

Stocks to Watch today, Sep 27: Infy, HealthCare Global, Suzlon, Century Tex

Stocks to watch on Wednesday, September 27, 2023: Shares of SignatureGlobal (India) and Sai Silk (Kalamandir) to debut on the bourses today.

Stocks to Watch on Sept 22: JSW Steel, Glenmark Life, Samhi, Zaggle, TaMo

Stocks to Watch today, September 22, 2023: Glenmark Pharmaceuticals Board has approved the divestment of a 75 per cent stake in its subsidiary Glenmark Life Sciences to Nirma for Rs 5,651 crore

Vedanta board approve raising Rs 2,500 crore in non-convertible debentures

These would be raised in the form of secured, unrated, unlisted, redeemable NCDs in one or more tranches, the company said