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’s Q1 FY18 net doubles on strong aluminium production run rate
<p>The diversified natural resources company with aluminium operations in India, Vedanta Limited reported improved bottomline for Q1 FY 2017-18. The company’s Aluminium business registered strong exit production run rate of 1.4 million tonnes per annum from continued ramp-up. The increased...
Aluminium major Vedanta sees great business collaboration between India and Italy
<p>“In Italy, aluminium consumption has increased by twelve times in the last twenty years. We need expertise on metals and we think that your country can offer a lot of skills and technologies.” Maurizio Sala is delighted to hear the words of Harssha Shetty, Indian Manager from Mumbai,...
Vedanta eyes 50% volume growth across all business in next 2-3 years
<p>Vedanta Ltd plans to increase its volumes by 50% across all business operations over the next two-three years as a part of its capital expenditure (capex) plans. Chairman Navin Agarwal said this during the annual general meeting (AGM) on Friday. This was the first AGM convened by Vedanta...
Metef 2017 concludes with a more international coverage
<p>The eleventh edition of Metef just ended in Verona; a great interest among the exibitors and visitors was clearly visible, business linked to the aluminium and foundry worlds was brisk and the dominant theme recorded was that of a more international character. There was a 25% increase in the...
Vedanta features among top 100 companies in the Asia300 list
<p>India’s leading diversified natural resources company Vedanta Limited has been featured among the top 100 companies in the Asia300 list released by Nikkei Asian Review. Vedanta Limited is the only company in the natural resources sector to be selected among the top 100.</p> <p><img...
"Our dream has just begun” – Anil Agarwal details Vedanta’s US$6-7 bn India investment plan
<p>Vedanta Resources, the world’s leading diversified natural resources company with aluminium operations in India, said that its big dream for the country has only just begun. With a market capitalisation of US$14 billion, the group is setting out to invest US$6-7 billion in expanding its...
Indian aluminium producers join in a petition against power duty hike in Odisha
<p>Major Indian aluminium producers National Aluminium Company Limited (Nalco), Hindalco, and Vedanta Aluminium have come forward to jointly protest against the massive power duty hike in Odisha, reported global news agencies Platts and Aluminium Insider. In a petition to the Government of...
Vedanta-LG’s INR 16k crore electronics project in Mihan to create fresh demand for aluminium
<p>Vedanta Group, one of the world’s leading diversified natural resources company with interest in aluminium value chain, is mulling an INR 16,000-crore worth electronics product manufacturing facility in Mihan, Nagpur. The project will be set up under Twinstar- a joint venture of Vedanta...
Complete electrification target by FY2018 may spur a rally in Indian aluminium industry
<p>On Monday June 12, Union Power Minister Piyush Goyal announced that by the end of 2017, the country would be fully electrified and no village would be left without a power connection.</p> <p>“We are in fact now in advance stage of electrifying all homes,” he declared.</p> <p...
Amafond’s Maurizio Sala discusses Metef Exhibition and India connection with Indian Commerce & Industry Minister
<p>Maurizio Sala, owner of Foundry Ecocer Srl and Protecme Srl and President of the Confindustria Amafond underlines the important presence of India at the next edition of METEF, the largest light and non-ferrous metals expo in the SEMEA area (Southern Europe, Middle East, and Africa). In a recent...
Vedanta hopeful of nod for 50% ramp up in capacity at Lanjigarh refinery
<p>Vedanta is looking at the possibility of expanding its alumina refinery capacity at Lanjigarh beyond the existing limit of four million tonne per annum (mtpa). The refinery's rated capacity is six mtpa and Vedanta expects to get all clearances to operate it at that level...
Declining alumina cost helps Vedanta set eyes upon higher aluminium output
<p>Global mining and metals behemoth Vedanta is eyeing 1.6 million tonnes (mt) of aluminium output for the financial year 2017-18, encouraged by the falling alumina prices and a resilient LME aluminium. The company ended the last financial year with a record production of 1.2 MT primary metal.</p>...
Vedanta announces appointment of Non-Executive Director
<p>The London listed Vedanta Resources plc yesterday announced the appointment of Mr Edward Story as a Non-Executive Director with effect from 1 June 2017. According to a release, Vedanta will also appoint him as a member of the Company's Audit Committee with effect from 1 June 2017.</p> <p><img...
India imported about 880 thousand tonnes of petcoke in 2016; USA & China topped the exporter list
<p>The aluminium production process requires up to half a tonne of carbon for every tonne of metal produced. Specifically ‘petroleum coke’ or petcoke, a by-product of the oil refining process, is a significant fuel for the power generation and aluminium smelting industries along with...
Siemens to digitally connect Vedanta's two power plants
<p>Automation solutions provider Siemens today said it has bagged a contract from Vedanta for providing digital fleet center solution to connect the latter's two power plants in India to the monitoring stations.</p> <p>Siemens will digitally link Vedanta's critical power units-Talwandi Sabo Power...
Vedanta Limited reports increased revenue and EBITDA for Q4 and FY 2017; aluminium production at record high
<p>Vedanta Limited announced its audited consolidated results for the fourth quarter (Q4) and full year ended 31 March 2017 (FY 2017) on Monday May 16. The results report record annual production at Aluminium, Power, Zinc India (Zinc and Silver) and at Copper-India and improved revenue and...
Vedanta undeterred by bauxite mining challenges
<p>Vedanta Aluminium, one of India’s three leading primary aluminium companies, is focused on getting its ambitious aluminium expansion plans executed successfully despite multiple bauxite mining challenges strewing its path. It is said to be banking heavily on its high smelting capacity and...
Pot outage upsets Vedanta’s aluminium smelter operations
<p>Vedanta Resources plc's subsidiary Vedanta Limited has made an announcement yesterday, 20th April, 2017, that it faced pot outage at its aluminium smelter and the coal handling plant was affected in another incident of fire. Both the incidents occurred earlier this week at its two different...
