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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Vedanta & Nalco set sights on trimming aluminium production cost after robust FY17 earnings
The two top aluminium producers Vedanta Ltd. and National Aluminium Company Ltd. (Nalco) are wary about the rise in production costs, even after posting robust earnings from aluminium business in the financial year 2017 ended on 31 st of March, 2018. Vedanta’s cost of aluminium production escalated...
Vedanta reports cost pressure despite higher profit in FY2017-18
The mining conglomerate Vedanta Resources has reported rising cost pressures despite an increase in annual profits on the back of higher commodity prices. As announced on May 5, 2018, the company, controlled by Indian tycoon Anil Agarwal, witnessed a 21 per cent rise in consolidated...
Vedanta reports 22% YoY revenue growth for FY 2018 on account of the capacity boost at Aluminium
Mining conglomerate Vedanta Ltd. has announced its unaudited consolidated results for the fourth quarter of the financial year 2017-18, as well as the full financial year ended March 31, 2018. According to the results, the company has witnessed 22 per cent increase in year-on-year revenue closing...
Vedanta to save INR 800 per tonne on securing bauxite from Kodingamali mines
After several rounds of discussion and year-long struggle, Vedanta Aluminium Limited finally sealed a deal with the OMC to haul bauxite from Kodingamali mines to Lanjigarh refinery, as reported on April 12, 2018. According to the previous news, Vedanta had expected to pay high costs to transport...
Vedanta reports record aluminium production in Q4 and FY 2018 driven by successful smelter ramp ups
Vedanta Resources reports record aluminium annual production at 1.7 million tonnes for the Full Year ended 31 March 2018. Aluminium production for the fourth quarter FY2018 was at 477,000 tonnes, up 35% YoY and 7% QoQ. The growth was primarily driven by the ramp up at the Jharsuguda-II smelter. It...
Lanjigarh alumina production up 22% QoQ and 12% YoY in fourth quarter FY 2018.
Vedanta Resources releases production results for the Fourth Quarter and Full Year ended 31 March 2018. The company reports record production performance in the Lanjigarh refinery that was lagging behind due to issues related to raw material sourcing. Alumina production for the fourth quarter 2018...
Odisha Government gives consent to Lanjigarh refinery to boost capacity to 6 million tonnes
Vedanta’s long wait comes to an end on receiving a nod from Odisha Government for its Lanjigarh refinery production capacity boost to six million tonnes. According to an official source, “Chief Minister Naveen Patnaik has given his nod to the expansion of the plant. The Vedanta has been asked to...
Vedanta may pay high costs to transport bauxite from Kodingamali mines to Lanjigarh
Vedanta, a global diversified metals and mining company, plans to sign a long-term contract with Odisha Mining Corporation (OMC) to haul bauxite for its Lanjigarh (Kalahandi district) alumina refinery. However, the company is perplexed about the escalation of the transport cost of procuring raw...
Vedanta to invest INR 12.4 bn on Jharsuguda smelter to elevate aluminium capacity
Vedanta has proposed to invest INR 12.4 billion on its Jharsuguda unit (Odisha) to elevate the capacity of aluminium smelter from 1.6 million tonnes to 1.8 million tonnes per annum. The proposal underwent a scrutiny of the State Level Single Window Clearance Authority (SLSWCA) yesterday (March 22,...
Trump’s administration tariff will have indirect effect on Indian exports
Tapan Kumar Chand, CMD, NALCO and Chairman of Aluminium Association of India told PTI that Indian aluminium industry will be not significantly affected by aluminium tariff. Since India already has a large export market in the ex-USA world so tariff will affect a small portion of its aluminium...
Odisha government amends long-term linkage policy for bauxite
The State Cabinet in its meeting held yesterday, February 21, has approved the amendment of the long-term linkage policy to facilitate bauxite linkage. Chief Secretary Aditya Prasad Padhi said 70 per cent of the saleable stock of bauxite will be made available for long-term linkage and the balance...
Vedanta’s aluminium production up 39% to 1.1 million tonnes in the three quarters of FY2018
Vedanta Resources has released both the production and financial results for Q3 FY2018 ended 31 December 2017. Vedanta reports 445,000 tonnes of aluminium production in Q3 FY2018, up 40% YoY and 11% QoQ as a result of complete ramp up at the Jharsuguda-II smelter following the ramp up in Balco II...
Vedanta’s revenue increases 19% YoY on improved aluminium volumes in Q3 FY18
Vedanta Limited has announced its unaudited consolidated results for the third quarter ended 31 December, 2017. The company has reported 19 per cent increase year-on-year in revenue in the fiscal third quarter. Mr. Kuldip Kaura, Chief Executive Officer, Vedanta Ltd, said: "We delivered a robust...
Vedanta wins two bauxite mines totalling 15 mtpa reserves in Odisha
Putting an end to Vedanta’s years-long bauxite hunt, the Government of Odisha has awarded two bauxite mines in the state. The two mines totalling 15 mtpa bauxite reserves will be able to take care of 75 per cent of Vedanta’s 20 mtpa bauxite requirement. Vedanta has been involved in developing a...
Containing costs will remain the key challenge for Indian aluminium makers in 2018: Nalco CMD
A bullish LME aluminium outlook notwithstanding Indian primary aluminium producers are struggling to keep their profits intact. Reason- The spiralling cost of raw materials. From alumina to coal, coal tar pitch and caustic soda every key ingredient of aluminium making has become costlier and this...
Vedanta considers takeover bid for Aleris Corporation
Vedanta Resources Plc. is considering making a bid to buy Ohio-based aluminium rolled products maker Aleris Corporation. Vedanta’s key products are aluminium, alumina, copper, and iron ore among others. “While there is no certainty that Vedanta will eventually make a bid for Aleris, competitive...
Vedanta eyes zero alumina imports by 2020
Diversified metals & mining conglomerate Vedanta Ltd is aiming at zero alumina imports by 2020. By then, the company is looking to reach its full nameplate capacity of six million tonnes per annum (mtpa) at its Lanjigarh alumina refinery in Odisha. The Lanjigarh refinery's present de-bottlenecked...
Hindalco best placed to weather the winter freeze
China’s winter production cuts to curb smog have sent commodity prices higher. That’s no solace for aluminium producers in India as fuel and raw material costs are rising faster than the prices of the base metal. Yet, Hindalco Ltd. is best placed among its peers to beat the winter chill, brokerage...
