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 is on track to become the largest aluminium maker in India by next financial year
Currently Aditya Birla Group remains the largest aluminium producer in India with a total combined capacity of 1.32 million tonne of aluminium by Aditya Aluminium and Hindalco. However, Vedanta is on the right track to touch 1.6 million tonne capacity mark this year surpassing Hindalco. Vedanta has...
Vedanta to ramp up alumina production if HLCA approves proposal
The State-Level Single Window Clearance Authority (SLSWCA) on Thursday referred Vedanta’s plan to ramp up alumina production at Lanjigarh to high-level clearance authority (HLCA). Vedanta will increase its production from 1 million tonnes to 6 million tonnes if the HLCA clears the company’s...
Vedanta resumes remaining two power plants after SPCB revokes closure notice
Vedanta today announced that the State Pollution Control Board, Odisha ('SPCB') has revoked the closure order on the remaining two power units, which were closed following a breach in the Ash Pond dyke wall at Jharsuguda, on November 10, 2017, and hence restarted these units of power plant. SPCB...
Indian aluminium industry approaches PMO for coal shortage resolution
Indian aluminium industry body Aluminium Association of India (AAI) has approached the Prime Minister’s Office (PMO) seeking a solution to the looming coal supply shortage. The shortage has put 7.5 lakh jobs at stake and upcoming investments in the sector are being weighed down upon by a heavy debt...
Vedanta’s revenue rises 39% in H1 FY2018; achieves record aluminium production
Vedanta Resources published results for the six months ended 30 September 2017 on Friday. The company posted revenue and EBITDA of US$6.8 billion and US$1.7 billion respectively due to higher volumes and strong commodity prices. Profit attributable to equity holders of the parent (before special...
Vedanta’s Q2 FY18 net profit rises 41% YoY on strong commodity prices
Vedanta Limited announced its unaudited consolidated results for the second quarter ended 30 September 2017. The company reported quarterly aluminium production of 401 thousand tonnes. Vedanta registered strong exit production run rate of 1.6 million tonnes per annum. The net profit (PAT) and...
Vedanta plans major investment in bauxite & aluminium
Anil Agarwal, the founder and Chairman of the mining and metals major Vedanta Resources Plc, said that the company is planning to invest in sectors such as oil and gas, production of aluminium, zinc, copper, silver and steel and mining of bauxite and rock phosphate. Anil Agarwal told Mint in an...
Vedanta Chairman Anil Agarwal to set up a US$1 billion VC fund for Indian startups
Anil Agarwal, the founder and Chairman of the mining and metals major Vedanta Resources Plc, is considering the launch of a one billion dollar venture capital fund to help promising young Indian entrepreneurs build their start-ups. With the VC fund, Agarwal will be joining the league of...
Final forest clearance received for Kodingamali bauxite mine development in Odisha
The ore-starved Lanjigarh refinery of Vedanta Aluminium finally has something to rejoice. The Ministry of Environment and Forests has granted the final clearance for developing a new bauxite mine in the forest land adjoining Odisha’s Kodingamali plateau area. A mining contractor has already been...
Vedanta reports strong second quarter for aluminium; alumina production affected by bauxite supply issues
Vedanta Resources Plc releases Production report for the Second Quarter and Half Year ending 30th September 2017. Aluminium business reported record quarterly aluminium production. Smelters continue to ramp up through the quarter maintaining a current run-rate of 1.6 mtpa (excluding trial run...
CECB slaps closure notice on BALCO power plant
Vedanta- controlled Bharat Aluminium Company Limited (BALCO) has received notice for the closure of its 1,200 Mw power plant from the Chhattisgarh Environment Control Board (CECB). The closure notice has been issued over alleged green norms violation. CECB has asked the company to file a response...
SPCB revokes closure notice on Vedanta’s three power plants
Vedanta today announced that the State Pollution Control Board, Odisha ('SPCB') has revoked order for closure of three units (two units of 135 MW each and one unit of 600 MW) on September 20, 2017, and hence restarted these units of power plant. The company will not need to buy the 200 MW power...
Vedanta gets power plant closure notice
Following a breach in the Ash Pond dyke wall at Jharsuguda at the end of August, the State Pollution Control Board, Odisha ('SPCB') on September 13, 2017 served a direction resulting in a temporary closure of three units of 135 MW each of the 1215 MW power plant, and two units of 600 MW each of the...
Vedanta Resources set to invest INR 50,000 crore on business expansion in India
Anil Agarwal, chairman of Vedanta Resources, the metal and mining conglomerate has announced his plans to invest around INR 50,000 crore on business expansion in India in the next few years. "I have promised the government that the group will invest Rs 40,000-50,000 crore. My shareholders and my...
Kuldip Kaura appointed as interim CEO of Vedanta Limited as Tom Albanese steps down
The board of Vedanta Limited has on Thursday announced the appointment of Kuldip Kaura as the interim chief executive officer from September 1, 2017 as former CEO Tom Albanese steps down on August 31. In the meantime the search for a new CEO is going on. Kaura has held various senior management and...
Indian aluminium producers benefitting from China’s anti-pollution crackdowns
<p>As China is busy drawing up implementation regulations for its environmental protection tax law, aluminium producers in India and elsewhere stand benefitted from the price impact the Asian country has on the global light metal industry.</p> <p style="text-align: center;"><img...
Higher aluminium prices ring in the good times for Indian aluminium producers
<p>LME aluminium prices are on a solid upward track. Although technical analysis by major global research firms indicate at a possible correction which might result in trend reversal, the higher prices, as of now, are turning out to be real boon for the Indian aluminium producers. Vedanta is...
Vedanta aluminium production up 44% YoY in Q1 FY2018, full year target set at 1.6 million tonnes
<p>Vedanta Resources releases production report across all its business for the First Quarter ended 30 June 2017. Aluminium production remains flat quarter on quarter due to previously announced power outage at Jharsuguda-I. The company reports an exit production run-rate of 1.4mtpa....
