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Latest VEDL News From Around the Web
Below are the latest news stories about Vedanta Ltd that investors may wish to consider to help them evaluate VEDL as an investment opportunity.
Copper stocks could have years of growth ahead thanks to demand from new technologies.
The oil ministry will seeks tens of millions of dollars from Vedanta's Cairn Oil & Gas after the Delhi High Court held that the firm was liable to pay higher profit share to the government in lieu of its Rajasthan oil and gas block license being extended beyond initial term, a top official said. In the interim, the firm's Barmer basin block licence, whose initial 25-year term ended on May 15, 2020, has been given an eighth interim extension, the official, who wished not to be identified, said. "Now that the Delhi High Court has upheld the government policy, we will issue recovery notices seeking higher profit petroleum since May 15, 2020," he said. "The exact amount is being calculated but it will be in tens of millions of dollars." When contacted, a company spokesperson said, "We are i...
Vedanta to set up a new copper smelter with an investment of Rs 10,000 crore in a coastal state, submits EoI
Anil Agarwal-led Vedanta Ltd is planning to set up a new copper smelter with an investment of around Rs 10,000 crore in partnership with the state government said the company through an expression on interest (EoI) submitted on Thursday. “We are looking to partner with state governments for setting up a copper smelter in a coastal region in India,” the company said in its EoI statement.The company said that the copper smelter of 500-kilo tonne per annum (KTPA) will require a footprint of around 1000 acres in proximity to port along with logistics connectivity with conveyor/corridor of rail and road to handle 5 mtpa material movement on both in-bound and out-bound side the EoI statement said.India’s copper requirements are set to grow exponentially in the coming years. Having ample suppl...
Fitch Ratings on Friday said there is more visibility on BPCL privatisation, but there is still little information on potential restrictions for the new owner in relation to employee protection, asset stripping, and investment lock-in. Also, there is a need for further clarity on the future of subsidies paid to BPCL's customers on the sale of LPG and kerosene as well as the freedom on the pricing of petrol and diesel before the divestment can conclude, it said. The government is selling its entire 53.98 per cent stake in India's second-largest fuel retailer Bharat Petroleum Corporation Ltd (BPCL). Three firms, including Vedanta Ltd, have evinced interest in buying the stake. "There is more visibility on the progress of the state of India's divestment of BPCL, following developments on k...
After a failed delisting attempt last year, London-based parent Vedanta Resources Ltd (VRL) has upped its offer price to increase its stake in Vedanta Ltd by buying a 17.51% stake in it at ₹235 per share.
London-based Vedanta Resources Ltd. will now seek to buy 17.51% of Mumbai-listed Vedanta Ltd. at Rs235 a share
Mumbai: Vedanta Resources’ higher open offer price to buy back shares in its Indian subsidiary from the public could find acceptance among investors, said analysts.The metals and mining giant has raised its open offer price to repurchase shares of Vedanta Limited to Rs 235 a piece from Rs 160 earlier. Analysts said the acceptance ratio is likely to be as high as 75-80 per cent with the revised open offer price, which is at a nearly 4 per cent premium to Vedanta’s closing price of Rs 226.55 on Tuesday.“While the minimum acceptance ratio in the offer comes to around 39 per cent, we expect the final acceptance ratio to be around 75-80 per cent,” said Sriram Velayudhan, vice-president, IIFL Alternative Research. “We would recommend these holders to tender the shares in the open offer and bo...
In January, Vedanta Resources had offered to buy up to 10% in Vedanta Ltd at ₹160 apiece.
In January, Vedanta Resources had offered to buy up to 10 per cent in Vedanta Ltd at Rs 160 apiece.
Vedanta Limited today announced its unaudited consolidated results for the Third quarter (Q3) and Nine Months ended 31st December 2020.