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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Week in Review: Mergers and technology tie-ups mark Primary Aluminium amid volatility
<p>Primary aluminium industry this week was abuzz with news of big companies merging to create leading global entities, aluminium smelters signing technology partnerships with automation giants, and India showing strong aluminium demand prospects for the long-term.</p> <p>Here’s a review of...
Merger with Cairn to improve Vedanta's financial flexibility: S&P Global
<p>Vedanta Ltd, the mining subsidiary of the UK-listed Vedanta Resources that recently completed its merger with Cairn India, will get an access to $4 billion of cash and another about $700 million a year from the merger, said S&P Global Ratings. The fund will allow Vedanta Ltd to repay its...
Vedanta Resources completes Vedanta - Cairn merger
<p>Vedanta Limited and Cairn India Limited have announced that the merger of Cairn India with Vedanta has become effective from today, April 12 2017.</p> <p>Based on CY 2016 reported EBITDA of diversified natural resources companies globally, Vedanta is ranked #6 among the global diversified...
Vedanta Resources reports record aluminium production for FY 2017
<p class="MsoNormal">Vedanta Resources releases production report for the Fourth Quarter and Full Year ended 31 March 2017 and registers record annual production for the aluminium segment.</p> <p class="MsoNormal">Commenting on the results, the present Chief Executive Officer, Tom Albanese said:...
Vedanta Resources Plc announces early redemption of 2018 bonds to reduce gross debt
<p>Vedanta Resources Plc today announces its election to redeem in cash all of its outstanding 9.5% bonds maturing 18 July 2018 under condition 5(b) of the terms and conditions of the bonds.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
Mixed reaction to Vedanta’s bauxite mine expansion plan
<p>Vedanta-controlled Bharat Aluminium Company’s (Balco) proposal for the expansion of bauxite mine gets mixed reaction from the residents. The proceeding was held on Monday in Surguja district of Chhattisgarh in order to get approval from the local community.</p> <p><img...
Vedanta Resources CEO Tom Albanese sets to leave by August 2017
<p>A company statement from the London listed Vedanta Resources Plc confirms that its CEO) Tom Albanese will leave the $2.7 billion Indian resources giant by the end of August after completing his three years tenure.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto;...
Vedanta installs country’s first red mud powder plant
<p>Vedanta Refinery has installed a red mud powder plant at its Lanjigarh alumina refinery in Kalahandi, Odisha. The automatic red mud powder plant is the country’s first of its kind initiative by an alumina refinery. The industry has been facing problems with red mud disposal which is a...
Aluminium and zinc expected to turn the table for Vedanta in 2017
<p>2017 seems to be a positive beginning for Vedanta driven by the upturn in commodity market that started towards 2016 –end and is still continuing with bullish trends.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
NCLT approves merger of Vedanta Ltd and Cairn India; shares edge up
<p>Vedanta Limited, a subsidiary of metal & mining conglomerate Vedanta Resources, has made an announcement today that National Company Law Tribunal has approved the merger of Cairn India Limited with Vedanta Limited.</p> <p><img style="vertical-align: middle;"...
Vedanta to buy 13% stake in Anglo American, a top mining group from South Africa
<p>Chairman of Vedanta Resources, Anil Agarwal announced his plans to buy as much as $2.4 billion or 13 per cent of Anglo American Plc shares in the market after a failed merger proposal last year. The purchase will make Agarwal the second-largest shareholder after South Africa’s Public...
Metal and coal stocks in India edge up on China’s capacity cut news
<p>Indian metal and coal stocks were up on March 2 after the news of China imposing cuts on steel, aluminium and coal production started circulating in the market. A drop in supply of these highly demanded commodities are expected to hike prices and improve valuations of companies in countries...
Vedanta wins Platinum and Gold at LACP Vision Awards
<p>The Annual Reports of Vedanta Limited and Vedanta Resources Plc won Platinum and Gold, in the Materials and Energy - Equipment & Services category respectively, at the LACP Vision Awards 2016. The awards recognize best practice in international financial reporting.</p> <p><img...
Vedanta Limited reports 31% YOY growth in revenue in third quarter FY2017
<p>Vedanta Limited today announced its unaudited consolidated results for the third quarter (Q3) ended 31 December 2016.</p> <p>The company reported revenues of INR 19,320 crore, up 23% QoQ and up 31% YoY. The company also reports an EBITDA of INR. 6,002 crore, up 29% QoQ and up 83%, YoY. The...
Upcoming budget expected to trigger metal stocks including aluminium
<p>The last week has been marked by a quick gain in all the major indices (SENSEX & NIFTY) and Nifty Metal index outperforming the major indices by a good margin, recording gains of 6%.</p> <p><img style="vertical-align: middle; display: block; margin-left: auto; margin-right: auto;"...
Vedanta Limited reports 37% YOY growth in aluminium production in Q3 FY2017
<p>Vedanta Limited has published the production Release for the Third Quarter and Nine months ended 31st December 2016.</p> <p>The metal and mining major continued ramp up of Jharsuguda-II and BALCO-II smelters. The company commenced the ramp up of the third line of the 1.25 mtpa Jharsuguda-II...
Odisha government revives hopes to Vedanta’s Lanjigarh alumina refinery
<p>The Odisha government and state-owned Odisha Mining Corporation entered into a partnership on Wednesday, 11 January, that will provide bauxites to the Vedanta’s Lanjigarh alumina refinery, which is not operating to its full capacity.<br /><br />Lanjigarh alumina refinery will get bauxite...
Nalco to consider allowing Vedanta to participate in its alumina tenders
<p>India's two leading aluminium producers, National Aluminium Company Limited (NALCO) and Vedanta, finally seem to be collaborating with each other to sort out alumina sourcing related issues that the latter has been facing since long. The central government has asked the Navaratna PSU to consider...
