Vedanta Aluminium shares rise as the group denies stake-sale speculation
Vedanta Aluminium shares gained 3.32 per cent after Vedanta Resources denied speculation that it planned to sell its stake in the aluminium business, while brokerages maintained bullish views on the stock. Vedanta Aluminium came into focus after its parent, Vedanta Resources, dismissed reports and...
Vedanta Aluminium eyes next growth phase on higher volumes and lower costs
Motilal Oswal has maintained its “buy” rating on Vedanta Aluminium Metal, saying production growth, lower costs and a bigger share of value-added products could support a multi-year expansion in earnings. The brokerage has set a target price of INR 540 (USD 5.67) per share, implying potential...
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Hindalco and Vedanta cut prices of aluminium ingots in line with falling 3-months LME prices
According to trade sources both Vedanta and Hindalco have cut prices of their products on Wednesday October 31. Vedanta Ltd has cut prices of aluminium ingots by more than 1% from October 31, after raising the prices of the same products by over 1%, which came after eight consecutive price cuts....
Vedanta’s profit declines 34% YoY in Q2 FY2019
Vedanta Resources plc's subsidiary Vedanta Limited announced results on Wednesday, October 31, for the second quarter ended 30 September 2018. Metals and mining major reported net profit of INR 1,343 crore in the July-September quarter of 2018, up 34.3 per cent from INR 2045 crore in the...
Indian Government reportedly considering proposal to increase import duties on aluminium
Following the request by the aluminium industry to increase import duties on both primary aluminium and aluminium scrap, the Indian government is now reportedly thinking to take it into consideration, sources said. The aluminium industry players have demanded a hike in import duties because of the...
Vedanta alumina production up 30% YoY and 7% QoQ in Q2 FY 2019
Vedanta Resources has released the production results of alumina for the second quarter and half year ended 30th September 2018. The alumina production in the Lanjigarh refinery grew in both Q2 FY 2019 and H1 FY 2019. The Lanjigarh refinery produced 348,000 tonnes of alumina in Q2 FY2019, an...
Vedanta reports record aluminium production in Q2 and H1 FY 2019 driven by smelter ramp ups
Vedanta Resources has published production results for the second quarter and half year ended 30th September 2018. The company reported record quarterly aluminium production at 494,000 tonnes in Q2 FY2019, registering a growth of 23% YoY and 3% higher QoQ. This was attributed to production ramp up...
Japan’s aluminium import from India reportedly boosts amid US sanctions against Rusal
Indian aluminium makers including Hindalco Industries and Vedanta Ltd. are reportedly boosting sales to Japan amid the United States’ lofty import tariffs and sanctions against Rusal. Usually, Japan, being a quality concerned consumer, never regarded the products from India a high enough quality....
India’s alumina import expected to rise 26% in CY 2018
According to a report by CARE Ratings, India’s aluminium production, which was at 3.39 million tonnes in 2017-18, is forecast to remain stable or grow a little to 3.42 million tonnes in the fiscal year 2018-19. The giants like National Aluminium Company (Nalco), Bharat Aluminium (Balco), a...
IBAAS Conference concludes in Mumbai with deliberations from national and internal delegates from the aluminium value chain
IBAAS successfully organized 7th International Conference and Exhibition (IBAAS-2018) during September 5 - 7, 2018 India with the theme “Indian Aluminium Industry – Status, Strategies & Way Forward for Accelerated Growth”. This Conference covered complete value chain from bauxite to aluminium...
Vedanta for the first time receives bauxite from Kodingamali mines, hopes to get more
After managing to run 2 million tonnes per annum refinery for past 10 years with bauxite sourced from several parts of the state and abroad, the aluminium major The Vedanta Limited for the very first time received the raw material from OMC’s Kodingamali mines recently, reported Vedanta’s external...
Vedanta can turn into one of the world’s largest resource companies: Says the new CEO Srinivasan
According to the new Vedanta CEO Srinivasan Venkatakrishnan’s statement shared with PTI in an interview, the firm (oil-to-aluminium group) holds a huge potential to become one of the world’s largest resource companies by expanding outside India without compromising on growth within the country....
Vedanta to invest US$8 billion in aluminium, other sectors
Mining and metals major Vedanta will invest up to US$8 billion to increase the production of aluminium, zinc, lead and oil over the next three years, Vedanta’s Chairman Navin Agarwal told shareholders at the company’s annual general meeting last Friday. “As India’s largest private oil producer, the...
Vedanta to carry on Lanjigarh alumina refinery expansion without bauxite from Niyamgiri
After putting countless efforts on overcoming local political unrest at Niyamgiri mines for securing bauxite from there, mining baron Anil Agarwal’s Vedanta Ltd. finally decides to put a stop at it and use alternate bauxite resources for expanding Lanjigarh alumina refinery, a top company official...
Vedanta secures approval for its Lanjigarh alumina refinery expansion worth of INR 5,600 crore
Vedanta Resources Plc reported that it received approvals for expansion of its alumina refinery at Lanjigarh in Odisha, and inked contracts with Emirates Global Aluminium for bauxite. The present capacity of the refinery is 2 million tonnes per annum which are expected to expand by 2021, said CEO...
Vedanta's aluminium business reports higher revenue and EBITDA in Q1 on higher volumes and LME prices
Vedanta Resources releases Production and Financial Results for the First Quarter ended 30 June 2018. The company reports record quarterly aluminium production at 482,000 tonnes, up 37% YoY and commencement of Odisha bauxite delivery to its refinery. The Lanjigarh refinery produced 325,000 tonnes...
Vedanta Limited reports record aluminium production and 31% rise in EBITDA in Q1 2018
Vedanta Resources plc's subsidiary Vedanta Limited announced consolidated results for the first quarter ended 30 June 2018. The company reported continued strong financial performance. The company reported revenues of INR 22,206 crore, up 15 % YoY and EBITDA of INR 6,529 crore, up 31% YoY. Vedanta...
EGA signs contract with Vedanta to supply bauxite from its mine in Guinea
UAE-based Emirates Global Aluminium (EGA), jointly owned by Mubadala Development Company of Abu Dhabi and Investment Corporation of Dubai, has signed a deal with Vedanta to supply bauxite from its mine in Guinea. Under the long-term agreement, EGA will start providing the ore to Vedanta from the...
The Indo-Italian MetalHub in Milan highlighted the merger of Italy's technical excellence and the mineral wealth of India
The Indo-Italian MetalHub , a one day event, which was designed to encourage cooperation between the Indian and Italian industrial metals districts, was held in Milan on July 2. This marked another step towards the cooperation between the technical excellence of Italy and the mineral richness of...
Indian companies ask government to place restrictions on aluminium imports from China
According to the presentation made by the Aluminium Association of India (AAI) and reviewed by Business Standard, the Indian aluminium industry has been suffering over the years because of the unfavourable Free Trade Agreements (FTAs) that allowed China to dump a huge amount of aluminium in India....
