Page 39 - Vedanta

Centre opposes Hindustan Zinc's $2.98 billion deal for Vedanta zinc assets

Directors nominated by the government at Hindustan Zinc had dissented to the proposed deal announced on Jan. 19, the letter showed

Hindustan Zinc to talk to mines ministry to acquire Vedanta's assets

Hindustan Zinc is planning to get in touch with the mines ministry to resolve the differences over the acquisition of overseas assets of holding company Vedanta Ltd, Hindustan Zinc CEO Arun Misra said. Valuation of the assets is among several concerns flagged by the government, which holds a 29.54 per cent stake in Hindustan Zinc Ltd (HZL) that was privatised more than two decades ago. The meeting is expected shortly, Misra said. "...we are reading in various newspapers about the comments of various minority shareholders. I have not met anybody personally. Once I meet them and know exactly what is their view then may be I can comment. I won't be able to offer any comment on other's comments which I can't verify personally," Misra told PTI. According to a source, the objections on the proposal were raised by all three government directors in the nine-member HZL board. Misra further said that the "board meeting deliberations by law are also only the output of the board meeting that

India in talks with 4 semiconductor companies to set up fabs here: Report

Among the companies that have shown interest are New York-based GlobalFoundries and a 'major' Korean semiconductor firm

Vedanta Resources' liquidity depends on $2 bn fundraising: S&P report

Sustaining after September 2023 would depend on completing one of two key transactions

Vedanta picks David Reed as CEO of its Gujarat semiconductor business

Reed began his career at Texas Instruments in 1984, where he served for 26 years

Govt planning to oppose Hindustan Zinc's proposal to buy Vedanta assets

The plan was pushed through even after government officials refused to approve it, they said, adding the government is trying to nudge Hindustan Zinc to withdraw the proposal

Vedanta appoints industry veteran David Reed as semiconductor business CEO

Anil Agarwal-led Vedanta Ltd on Monday named industry veteran David Reed to head its semiconductor unit where it is looking to invest USD 20 billion to manufacture chips essential for mobile phones to laptops and TV sets. In an interview with PTI, Agarwal said the group is looking to start manufacturing semiconductors at Dholera in Gujarat in 2-3 years. "We will start with USD 5 billion investment and scale it up as years go by," he said. The semiconductors will be manufactured in joint venture with Taiwanese electronics company Foxconn. Vedanta holds a 63 per cent interest and the remaining is with Foxconn in the joint venture. The company plans to initially produce 40,000 wafers a month. Before joining Vedanta, Reed was with NXP Semiconductors, where he was Executive Vice President and General Manager of global operations. He moved to NXP as part of the merger with Freescale Semiconductor, where he had served as Senior Vice President for manufacturing operations. Previously, Da

JSPL, NTPC, Vedanta among 59 firms that submitted bids for 36 coal blocks

The government on Tuesday said that 59 companies, including JSPL, NTPC and Vedanta, have submitted bids for 36 coal blocks that were put up for sale under the commercial mines auction. A total of 96 bids were submitted for the coal blocks. "A total of 96 bids were received under two tranches of commercial coal mine auctions," the coal ministry said in a statement. This is the highest ever bids received since the launch of commercial coal mines auction in the year 2020, the ministry said, adding, a "total of six public sector companies had submitted the bids in the ongoing round of commercial coal mines' auction as well". "Under sixth tranche of auctions, a total of 86 bids both online and offline were received against 32 coal mines and three bids were received only offline but not online, and two or more bids have been received for 25 coal mines i.e. 79 bids (both online and offline) against 25 coal mines, and 7 coal mines have received single bids (both online and offline)," the

Vedanta shelves plan to sell its copper smelter in Tamil Nadu

Restarting the smelter will lead to a surge in India's copper output and cut imports

Sensex ends choppy day 170 pts up, Nifty at 17,650; IT stocks lead gains

Closing Bell: Broader markets trailed gains in benchmark indices. The BSE Midcap and Smallcap indices closed up to 0.2 per cent lower

Stocks to Watch: Adani Group, Bajaj Finance, Zomato, Tata Motors, L&T, NMDC

Stocks to watch today: In a 413-page document, Adani retaliated against the American short-seller, saying the document was a "malicious combination of selective misinformation and concealed facts"

Low output pulls Vedanta net profit down 41% to Rs 2,464 crore in Q3

Firm clocked revenue of Rs 33,691 crore, down 7% from the previous quarter

Vedanta's Q3 net profit falls 42%, announces dividend of Rs 12.5 a share

Vedanta Q3 result: On a quarterly basis, however, the profit is up 15 per cent

Top headlines: CAD likely to narrow in 2023, misuse of IBC, and more

Business Standard brings you the top headlines at this hour

Stocks to Watch: RIL, PVR, HUL, Bata India, Sun Pharma, Vedanta, LTTS, Auto

Stocks to watch today: Jubilant Foodworks plans to open 3,000 Domino's stores - 250 stores for Domino's India in the next 12-18 months. It also plans to start 40-50 stores for Popeyes India

Vedanta's Cairn Oil & Gas announces appointment of Nick Walker as new CEO

Walker comes into Cairn Oil & Gas after Prachur Sah quit the firm to join Indus Towers Ltd as managing director and CEO effective January 3, 2023

Stocks to Watch: Adani Ent, IndusInd Bank, Coal India, HUL, Asian Paints

Stocks to watch today: Metals and mining major Vedanta will acquire debt-laden power plant Meenakshi Energy for Rs 1,440 crore

Vedanta to acquire debt-laden Meenakshi Energy for Rs 1,440 crore

Meenakshi Energy was admitted under insolvency resolution in 2019

Govt sticks to demand for increased share in Barmer oil & gas block

The SC has been hearing a dispute between Vedanta and the federal government related to an extension of the production-sharing contract for the Barmer asset in the western state of Rajasthan

Total aluminum production dropped by 2% to 566,000 tonnes in Q3: Vedanta

Vedanta on Tuesday said that its total aluminum production dropped by 2 per cent to 5,66,000 tonnes in the third quarter of the current fiscal. The company's total aluminum output stood at 5,79,000 tonnes in the year-ago period. "Alumina production at Lanjigarh refinery decreased by 6 per cent YoY and 2 per cent QoQ to 443kt due to maintenance activities in calciners," Vedanta said in a filing to BSE. The company said at Zinc India, the mined metal production increased marginally by 1 per cent to 2,54,000 tonnes in the third quarter. Production of saleable iron ore in Karnataka rose 17 per cent to 1.5 million tonnes (MT) in the third quarter over 1.2 MT in the year-ago period. The finished steel production in Q3 dropped to 3,06,000 tonnes from 3,50,000 tonnes in the corresponding quarter of the previous fiscal.