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...
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Sterlite Industries regaining Street confidence
Sterlite Industries is once again attracting analysts’ attention, especially after the recent quarterly results, which were ahead of expectations. Many of them are now turning positive on the company due to reasonable valuations. More importantly, analysts believe that the contribution of zinc,...
Mines ministry moves note on HZL, Balco residual stake sale
Finance Minister P Chidambaram on Monday said the mines ministry had moved a note for the sale of the government’s residual stake in Hindustan Zinc Ltd (HZL) and Bharat Aluminium (Balco). The matter would go to the Cabinet and the finance ministry would give its views in due course, he said. And,...
SC asks Odisha Govt. to provide entry tax details levied on Vedanta
The Supreme Court Monday asked the Odisha government to give details of the entry tax levied by it on raw materials and machinery equipment imported from outside the country by Vedanta Aluminium limited for its aluminium refinery and smelting plant. A bench of Justice DK Jain and Justice Madan B....
Sterlite Industries (India) shows bullish trends
Angel Broking is bullish on Sterlite Industries (India) and has recommended accumulate rating on the stock with a target of Rs 110 in its October 26, 2012 research report. “Sterlite Industries’s, for 2QFY2013, net sales increased 8.8% yoy to Rs11,029cr. The growth in net sales was driven by...
Vedanta Aluminium resumes operation on bauxite availability
After being shut for nine days due to lack of bauxite, the alumina refinery of Vedanta Aluminium Ltd (VAL) at Lanjigarh in Odisha's Kalahandi district opened on Monday with arrival of some raw material. "The refinery plant, which was temporarily shut down on October 13, has opened and re-started...
Sterlite Industries Q2 net up by 75pct at INR 1743 crore
BS reported that foreign exchange gains and group firm Vedanta Aluminium Limited’s lower losses have helped Sterlite Industries Limited post a net profit of INR 1,743 crore in the quarter ended September 30 up 75% from INR 998 crore reported in the corresponding period last year. The boost in net...
Vedanta Resumes Operations at East India Alumina Refinery
Vedanta Resources VED.LN -1.66% PLC has resumed operations at its alumina refinery in the eastern Indian state of Orissa where production was suspended for more than a week due to a shortage of bauxite, a raw material. "We have started operations at the plant on Monday after we received bauxite...
Odisha govt urged to arrange bauxite for Vedanta Aluminium
Voicing concern over the fate of workers due to shutting down of the refinery of Vedanta Aluminium Ltd (VAL) in Kalahandi district, a senior BJP leader today asked the Odisha government to arrange bauxite from some source for the resumption of operation of the alumina plant. "Shut down of refinery...
Uncertainity over debt in Sesa-Sterlite merger
With the Vedanta group deciding to restructure its holdings in mining and metals, Sesa Goa will soon be transformed into Sesa-Sterlite, with the merger of Sterlite Industries, and will house the group’s stakes in Cairn India, Vedanta Aluminium’s Indian projects and Balco. Vedanta proposes to issue...
Refinery closure to hit Vedanta's Jharsuguda aluminium smelter
A day after shutting down its bauxite refining unit at Lanjigarh temporarily citing unavailability of bauxite ore, Vedanta Aluminium Limited (VAL), has said it can hardly run its smelter facility at Jharsuguda for a month in the absence of enough alumina to run the plant. “Amid raw material supply...
Vedanta Resources updates on production of aluminium
Vedanta Resources updates about its alumina and aluminium production. Alumina production at the Lanjigarh refinery was 205,000 tonnes in Q2 and 423,000 tonnes in H1, 10% and 6% lower than the corresponding prior periods due to lower supply of third party bauxite. With reduced availability of third...
Vedanta Aluminium confirms shutdown of Lanjigarh power plant
The Vedanta Aluminium Ltd. (VAL), which will soon close down its refinery at Lanjigarh in Kalahandi district, has also decided to discontinue operation of its 75 mw captive power plant there. The VAL on Wednesday informed this to the local executive engineer of the power distribution company,...
Odisha Bauxite Mining Case hearing resumes on 12th Oct
The Green Bench of the Supreme Court resumes hearing Friday on the high-profile case involving mining of bauxite ore in the the Niyamgiri hills of the impoverished Kalahandi district of Odisha. In a writ petition, the state-run Orissa Mining Corp challenged the orders of the union ministry of...
Vedanta may shut down Lanjigarh refinery temporarily from Friday 12th Oct
Vedanta Aluminium Ltd (VAL), which had announced to close down its alumina refinery in Odisha from December 5 for want of bauxite, may go for a temporary shutdown of the facility in a day or two, much before the due date. With no immediate supply of bauxite in sight, the company said, it will be...
Vedanta Aluminium may raise $500 million to repay debt
Vedanta Aluminium, a unit of London-listed Vedanta Resources, plans to raise $500 million (about Rs 2,600 crore) to repay some of the group's debt as it prepares to buy government's stake in Balco and Hindustan ZincBSE 1.36 %, said two people familiar with the matter. The producer of metallurgical...
Regulatory issues to remain a major impediment for Vedanta Group
Regulatory hurdles remain to be the major impediment for the Vedanta group companies. The market has responded to the continuous regulatory overhang across group companies and has brought down the stocks of two main listed entities of the group, Sterlite IndustriesBSE -1.59 % and Sesa Goa. Sterlite...
ET Business Leader of the Year Award for Anil Agarwal
Economic Times honors Anil Agarwal of Vedanta Group with the Business Leader of the Year Award for 2012. According to ET, the award seeks to honour a leader who has clearly demonstrated a strategic direction for success, and pursued a vision. It is growth in trying times that tilted the balance in...
Vedanta proposes fresh valutation for Hindustan Zinc, Balco stake
Proposing a fair market valuation for public sector firms Hindustan Zinc Limited and Bharat Aluminium Limited, metals-major Vedanta has written to the government seeking higher valuations for both the companies, reports CNBC TV18's Anshu Sharma. Vedanta proposed fair valuation by independent...
