Page 38 - Vedanta

Hindustan Zinc's $1.3 bn dividend plan raises concerns over cash use

The Rajasthan-based miner will pay an interim dividend of 26 rupees per share totaling 109.9 billion rupees, according to an exchange filing Tuesday

$100 mn repaid to Standard Chartered Bank, encumbrance released: Vedanta

Recently, Vedanta said that it has prepaid all its debt that was due for repayment till March 2023

Stocks to watch: Sona BLW, M&M, Tech M, DLF, BoB, Vedanta, Godrej Prop

Stocks to watch today: From Sona BLW to Bank of Baroda, here are few stocks to watch out in Monday's trade

Vedanta may buy 6% more stake in Hindustan Zinc for Rs 7,900 cr

Govt planning OFS to sell 15% stake by March-end, will lose special rights over company; sources says Vedanta is looking raise about $1 billion from three foreign banks to fund the acquisition

Foxconn Technology eyes second chip plant in India, sans govt incentive

First unit, by Vedanta-Foxconn JV, under PLI scheme

Vedanta seeking $1 bn from global banks to refinance old debt, say sources

Is negotiating with Barclays, JP Morgan, StanChart; fresh fund raising comes within months of the firm having deleveraged its balance sheet by $2 bn

Metal index tops the rank of worst performers in Feb, rebound may not hold

Hindustan Copper and Vedanta may fall up to 19 per cent due to their weak chart structures.

Will be able to raise the targeted $2 billion, says Vedanta Resources

Will be able to raise targeted $2 bn, says company

Commerce Department to open process to avail aid for chip manufacturing

The Commerce Department is opening the application process for computer chip manufacturers to access USD 39 billion in government support to build new factories and expand production. The funding is part of the CHIPS and Science Act, which President Joe Biden signed into law last August. Grants, loans and loan guarantees are meant to revive domestic production of computer chips. The effort is designed to sharpen the US edge in military technology and manufacturing while minimising the kinds of supply disruptions that occurred in 2021, after the start of the coronavirus pandemic, when a shortage of chips shut down factory assembly lines and fuelled inflation. This is fundamentally a national security initiative, Commerce Secretary Gina Raimondo said as the application process began Tuesday. We are not writing blank checks to any company that asks. The money is meant to support private investment in new factories and can be clawed back if companies use it on stock buybacks instead. .

Vedanta slips 9%, hits four-month low amid heavy volumes

Growth capex, along with moderation in operating profitability, and higher than expected dividend payout is expected to result in increased leverage this fiscal

Top headlines: Apple creates new jobs, India's derivate bond trade at risk

Business Standard brings you the top headlines at this hour

TMS Ep378: Vedanta, airline pilots, road-infra players, index rebalancing

Can high leverage spell trouble for Vedanta? Does India have enough pilots for its expanding fleet? Will strong order book give road-infra cos a fillip? What is index rebalancing? All answers here

Vedanta-Hindustan Zinc deal worry may hit divestment plan for FY23

Centre's opposition to the Vedanta-HZL deal is on account of valuation and the deal being a related-party transaction

Centre to ask HZL to go for share swaps, warrants for $2.98 bn Vedanta deal

On January 19, the board of HZL approved the acquisition of zinc assets of THL Zinc Ventures, a subsidiary of Vedanta Ltd

Gautam Adani isn't the only Indian tycoon in trouble. Look at Vedanta

With Adani scandal putting Modi govt under heightened scrutiny about entanglement of public purpose with private profit, Vedanta's top priority should be to stay out of the headlines

Top headlines: Adani Green Energy capex plan, Tata Motors-Uber deal

Business Standard brings you the top headlines at this hour

Centre wants work on at least one semiconductor facility to start in 2023

So far, the Centre has received three applications for chip manufacturing in India

Stocks to Watch: Asian Paints, Adani Green, JK Tyre, Tata Motors, GR Infra

Stocks to Watch: Adani Green Energy (AGEL) has decided to review its capital expenditure (capex) plan of Rs 10,000 crore for financial year 2023-24 (FY24)

Centre opposes Vedanta's $3-bn zinc asset sale over concerns of valuation

In a setback to billionaire Anil Agarwal's mining group, the government has opposed Vedanta Ltd's proposal to sell its international zinc business to Hindustan Zinc Ltd for USD 2.98 billion over concerns of valuation. The government has threatened to take legal action to stop the sale of the Africa-based assets to HZL, in which it holds a 29.54 per cent stake. In a letter to HZL, posted by the company to stock exchanges, the Ministry of Mines said the deal is a "related party transaction" and the government would "like to reiterate'' its dissent. HZL in January agreed to buy THL Zinc Ltd Mauritius from its parent, Vedanta Ltd, for USD 2.98 billion in phases over 18 months. Vedanta holds a 64.92 per cent equity share of Hindustan Zinc ltd (HZL), which is an integrated producer of zinc, lead and silver. HZL in a separate filing said it would place the ministry's letter before the board and that a meeting of the shareholders to approve the deal was yet to be called. The Rajasthan-ba

Vedanta-Foxconn selects Dholera SIR for 1st semiconductor facility in India

A joint venture of Indian conglomerate Vedanta and electronics manufacturing giant Foxconn has finalised the Dholera Special Investment Region near Ahmedabad city of Gujarat for setting up their semiconductor and display manufacturing facility, a senior state government official said on Monday. In the biggest ever corporate investment in the history of independent India, a joint venture of Vedanta and Foxconn in September last year signed a Memorandum of Understanding (MoU) with the Gujarat government to invest Rs 1,54,000 crore to set up the plant in the state. This will be the first manufacturing facility for semiconductors in India. At that time, the joint venture company had not disclosed the exact location of the facility. "After a detailed site analysis in consultation with Gujarat government authorities, the joint venture entity of Vedanta and Foxconn has selected Dholera SIR for setting up their semiconductor and display manufacturing facility. The project is in the advanced