Vedanta Limited operates as a diversified natural resources company in India. The company explores for, develops, produces, processes, and sells zinc, lead, silver, oil and gas, aluminum, power, iron ore, steel, and copper. It also operates 1,980 megawatts (MW) thermal coal-based commercial power facilities; a 600 MW thermal coal-based commercial power facility in Jharsuguda; a 300MW thermal coal-based commercial power facility at BALCO; 274MW of wind power plants; and a 100 MW power plant. In addition, the company engages in the port business, including coal handling facilities and general cargo berth at the outer harbor of Visakhapatnam port on India's east coast. Further, it is involved in the manufacture of steel and DI pipes, and LCD glass substrate; leasing and servicing medical equipment and buildings; infrastructure activities; and provision of accommodation and catering services. The company was incorporated in 1965 and is based in Mumbai, India. Vedanta Limited is a subsidiary of Vedanta Resources Limited.
MUMBAI, India, Nov. 14, 2019 /PRNewswire/ -- Vedanta Limited today announced its unaudited consolidated results for the Second quarter (Q2) and half year ended 30 September 2019. Financial & Corporate Highlights Continued strong financial performance despite market headwinds Strong Balance Sheet Operational Highlights The overall volume and cost across businesses is better/ same compared to same quarter last year, supported by favourable tailwinds on input commodity costs . Business wise highlights are : Zinc India: Ore production up by 3% y-o-y at 3.6 million ton with strong growth at Rampura Agucha and Zawar Mines. Mined metal production at 219 kt , up 3% q-o-q. Entering H2, with last phase of expansion project completed enabling 1.2 mtpa capacity. • Zinc International: Gamsberg production at 24kt in Q2, ramp up in progress.">• Zinc International: Gamsberg production at 24kt in Q2, ramp up in progress. Oil & Gas: 166 wells drilled, 63 wells hooked up. Early gas production facility currently ramped up to over 50 mmscfd. Aluminium: Alumina production of 410kt, up 18% y-o-y. Hot metal cost at $ 1,852/ton, lower by 10% y-o-y Vedanta emerged as highest bidder for Jamkhani coal block in Odisha. • Iron Ore: Highest ever quarterly sales in Karnataka at 1.4 million tonnes.">• Iron Ore: Highest ever quarterly sales in Karnataka at 1.4 million tonnes. Steel: Sales at 283 kt , up 6% y-o-y. TSPL: Plant availability of 92%. https://finance.yahoo.com/news/vedanta-limited-consolidated-results-second-105800457.html
Billionaire Anil Agarwal Explores Buyout of India’s Vedanta Dinesh Nair, Anto Antony and Baiju Kalesh (Bloomberg) -- Billionaire Anil Agarwal plans to take Indian commodities giant Vedanta Ltd. private as the tycoon continues to simplify his investments. The businessman is proposing a price of 87.5 rupees ($1.16) per share to buy the 49.9% he doesn’t own of the company from minority investors, a 9.9% premium over Monday’s closing price, his holding company said in a statement Tuesday. The announcement confirmed an earlier story by Bloomberg News. Vedanta shares have fallen more than 40% this year, giving the company a market value of about $4.4 billion. Taking the company private is the “next logical step” in its simplification process and will provide more financial flexibility, Vedanta said in the statement. Vedanta is working with JPMorgan Chase & Co on the plans and the bank is helping the company raise financing for the deal. Agarwal’s Volcan Investments Ltd. has in the past taken his London-listed Vedanta Resources Ltd. private as the entrepreneur sought to simplify the corporate structure of his resources group. He had said at that time that a London listing was no longer necessary for the company thanks to “the maturity of the Indian capital markets.” India Tycoon’s $1 Billion Oil Unit Stake Sale Said to Stall A self-made billionaire, Agarwal has been a prolific dealmaker in the past few years as he sought to grow his metals-to-oil-and-gas empire into a resources conglomerate like BHP Group. Until last year, he was the largest shareholder of Anglo American Plc, triggering speculation that Agarwal was planning to push for a major change, such as a takeover or breakup. In the end, the tycoon decided to exit his investment because his returns were “achieved even sooner than expected.” Last year, investors expressed concern over corporate governance at the Mumbai-listed company when its subsidiary Cairn India Holdings Ltd. bought an economic interest in Anglo American from parent Volcan Investments for $200 million. That led to fears that the parent would use more of the company’s cash to serve its funding needs. Vedanta subsequently unwound the trade around the time Agarwal exited his stake in Anglo American. “Vedanta trades at a huge discount to its intrinsic value given that there were some corporate governance issues which met with serious objections from large institutional shareholders,” Sanjiv Bhasin, executive vice president at IIFL Securities Ltd. “Possibly he wants to get a fair multiple and he is thinking of withdrawing it because of the sheer low market cap which he gets.” Agarwal’s fortune has been built on a series of ambitious acquisitions: In 2001, he bought control of then government-owned Bharat Aluminium Co. in one of the first tests of India’s efforts to offload state holdings. He followed that up with the purchase of another government entity, Hindustan Zinc Ltd. He successfully bid for what was India’s largest iron ore producer Sesa Goa Ltd. in 2007 and for Cairn India, despite having no oil and gas experience. https://finance.yahoo.com/news/billionaire-anil-agarwal-explores-buyout-115934164.html
Parent company Vedanta Resources (VRL) announced on Tuesday plans to remove metal and mining stocks from Indian fields. The company set the target price at Rs 87.50, down 2 percent from Tuesday's closing price of Rs 89.30.
Vedanta Ltd. Up Nearly 11%, on Track for Highest Close Since February 2018 -- Data Talk 2:37 pm ET October 18, 2021 (Dow Jones) Print Vedanta Limited Sponsored ADR (VEDL) is currently at $19.85, up $1.95 or 10.89% -- Would be highest close since Feb. 28, 2018, when it closed at $20.18 -- On pace for largest percent increase since May 12, 2020, when it rose 20.58% -- Currently up seven of the past eight days -- Currently up six consecutive days; up 28.81% over this period -- Longest winning streak since May 10, 2021, when it rose for six straight trading days -- Best six day stretch since the six days ending March 7, 2016, when it rose 32.45% -- Up 29.91% month-to-date -- Up 126.08% year-to-date; on pace for best year since 2009, when it rose 230.07% -- Down 58.75% from its all-time closing high of $48.12 on Dec. 6, 2007 -- Up 286.94% from 52 weeks ago (Oct. 19, 2020), when it closed at $5.13 -- Would be a new 52-week closing high -- Up 297.8% from its 52-week closing low of $4.99 on Nov. 4, 2020 -- Traded as high as $20.01; highest intraday level since March 13, 2018, when it hit $20.29 -- Up 11.79% at today's intraday high; largest intraday percent increase since Nov. 9, 2020, when it rose as much as 12.14% All data as of 2:32:46 PM ET Source: Dow Jones Market Data, FactSet (END) Dow Jones Newswires October 18, 2021 14:37 ET (18:37 GMT) Copyright (c) 2021 Dow Jones & Company, Inc.