Vedanta Aluminium brings 4 AI Control Towers into logistics, safety and plant maintenance
Vedanta Aluminium is using artificial intelligence (AI) and other digital tools across its operations as part of its efforts to improve day-to-day decision-making, logistics, safety and equipment monitoring. At BALCO in Korba, Vedanta Aluminium has introduced four AI-enabled Control Towers to keep...
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...
Grow with
AL Circle
Vedanta-owned Balco shuts rolling mill at Korba over slump in metal prices
Vedanta-owned Bharat Aluminium Co, one of India's top private sector aluminium producers, has shut its rolling mill at Korba in Chhattisgarh due to a slump in metal prices and competition from cheap imports from China. Vedanta's alumina refinery at Lanjigarh in Odisha, which has been struggling to...
Balco moves Delhi High Court on coal mine bid rejection
Bharat Aluminium Company (Balco), a Vedanta group firm, has approached Delhi High Court against the government's decision to reject the company's winning bid for an auctioned coal mine in Chhattisgarh. The government last week rejected the company's plea to review the cancellation decision taken in...
Balco plea to accept winning bid for Chhattisgarh mine rejected
The government has rejected a plea of Bharat Aluminium Company (Balco), a Vedanta group firm, to accept its winning bid for an auctioned coal mine in Chhattisgarh. The government had in March rejected bid by Balco citing low prices and handed over the mine to Coal India. The company had moved Delhi...
Shutdown looms for Balco rolling mill at Korba
Vedanta-controlled Bharat Aluminium Company Limited (Balco) would shut down its rolling mill at Korba, Chhattisgarh, as the crises in the company reportedly deepened following recession in the sector. The rolling mill was commissioned in 1981-82. Besides the rolling mill, the company houses ingot...
Vedanta releases Production reports for the First Quarter FY 2016
Vedanta Resources Plc releases Production reports for the First Quarter FY 2016. Vedanta reports record quarterly aluminium production and continued high utilisation rate at Lanjigarh alumina refinery. Tom Albanese, Chief Executive Officer, Vedanta Resources plc, said: "In Q1 we saw continued...
ICICIdirect retains 'Hold' on Vedanta; target INR 135
ICICIdirect has maintained 'Hold' on Vedanta following announcement of company's first quarter results. The stock broker fixed price target to INR 135. Commenting on the results, ICICIdirect said, ''Vedanta reported a mixed set of Q1FY16 numbers. The EBITDA came in below our estimates while on the...
Vedanta Aluminium focuses on restructuring; ramp up plans stalled for now
Anil Agarwal led Vedanta Resources said it is planning to restructure high-cost operations in aluminium segment and has suspended ramp-up at its plant due to volatile commodity market. The mining conglomerate has been facing a challenging environment as global commodity prices are undergoing a...
Vedanta Limited announces Q1 Results
Vedanta Limited (formerly known as Sesa Sterlite Ltd./Sesa Goa Ltd) today announced its unaudited consolidated results for the first quarter ended 30 June 2015. A summary of the results below: Financial Highlights: • Revenues at INR 16,952 crore • EBITDA at INR 4,039 crore is flat sequentially;...
Vedanta’s innovation task force at work on next big idea
Senior managers at Vedanta have been meeting every quarter over the past one year to discuss new ideas and exchange notes with chief executive Tom Albanese on the next possible big innovation at the natural resources conglomerate. The executives are members of the 'innovation task force' which has...
Vedanta confirms no change in swap ratio despite stock price fall
Vedanta Ltd has said it stands by the share swap ratio, proposed as part of the plan to merge Cairn India Ltd with itself, despite a near 30% fall in the share of Vedanta since the merger was announced last month. “Swap ratio is not only based on the market prices of the shares but it also take...
Further fall in aluminium prices will make production cut inevitable
Aluminium producers in India seem to be worried with the slump in metal’s price. The aluminum arm of India’s Vendanta Ltd is just about scrambling to keep its business viable. Underutilized capacity is already adding to their cost; sources say any further fall in the metal prices would likely force...
Odisha to provide raw material to Vedanta Aluminium through OMC
Odisha Government will provide raw material to Vedanta Aluminium through Odisha Mining Corporation (OMC) to feed its refinery plant at Lanjigarh in Kalahandi district. This was informed by the Steel and Mines Minister Prafulla Mallick on Wednesday. The Minister said the government is taking steps...
China's SEPCO hands over first unit of Balco's INR 5,000-Cr plant
China's Shandong Electric Power Corporation or SEPCO on Tuesday handed over the first unit of Balco's INR 5,000-crore 1,200 MW power plant to the aluminium producer. Bharat Aluminium Company (Balco), a part of the billionaire Anil Agarwal-led Vedanta Group, said work will start on the remaining...
Vedanta scales down aluminium business, job cuts on the cards
Despite speculations regarding production cuts in Chinese smelters, global aluminium prices have shown no signs of improvement. This has forced India's Vedanta Group to scale down their aluminium business. They may also consider substantial job cuts to reduce overhead cost, said Abhijit Pati, CEO,...
Vedanta to announce its production results for Q1 FY2016 on July 31
Vedanta Resources plc will announce its production results for the first quarter ended 30 June 2015, on Friday, 31 July 2015 at 7:00 a.m. UK time (11:30 a.m. India time). Following the release, a conference call will be held on the same day at 9:00 a.m. UK time (1:30 p.m. India time), where senior...
Metal companies to get battered for second consecutive quarter
The earnings performance of metal companies, both ferrous and non-ferrous, is expected to remain lacklustre for the second consecutive quarter because of a decline in steel realisation, increased cost of provisioning for the district mineral foundation fund, and a significant fall in aluminium...
Odisha Mining Corporation to apply for bauxite reserve
The state government has asked the state PSU Odisha Mining Corporation (OMC) to apply for prospecting licence of Sasubohumali bauxite reserve. The mine in Rayagada district has an estimated reserve of 81 million tonne bauxite. "Since the new Mines and Minerals Development and Regulation Act, 2015,...
Vedanta Resources Plc hosts first Sustainable Development Day
Vedanta Resources Plc will today host its first Sustainable Development Day in London. As part of the Group's ongoing commitment to safety and sustainability as a key business imperative, Vedanta is hosting this event to explain how it is embedding sustainability across its operations and to...
