Vedanta

Monday, May 20, 2024 | Last Update : 09:56 PM IST

Govt approves allocation of 5 coal blocks, to generate Rs 17,136 cr revenue

The ministry of coal, after a long gap of four years, has approved the allocation of five coal mines, the ministry said in a statement.

05 Dec 2019 5:57 PM

Vedanta lost USD 200 mn in profits in one year of Tuticorin plant shutdown: Agarwal

As many as 20,000 direct and indirect jobs have been lost due to the shutting of the smelter.

17 Jun 2019 11:02 AM

Sharma will be an incredible asset to the board as the company remains committed to sustainable economic growth of the organisation.

Vedanta appoints M K Sharma as non-executive independent director

Appointment of M K Sharma as a non-executive independent director with effect from June 1, 2019.

31 May 2019 2:31 PM

Under open acreage licensing policy, or OALP, companies are allowed to put in an EoI for prospecting of oil and gas in any area that is currently not under any production or exploration licence.

Vedanta bids for 30 oil and gas blocks

Vedanta had walked away with 41 out of the 55 blocks offered in OALP-I last year.

17 May 2019 6:37 AM

A company spokesperson confirming the resignations said: "Such movements in management are part of natural evolution in any organization, and are in line with career aspirations and personal priorities of individuals.

Vedanta-led Cairn India CEO, CFO quit firm

Along with CEO Sudhir Mathur, CFO Pankaj Kalra also resigned recently, sources privy to the development said.

11 Apr 2019 2:42 PM

India’s second-biggest with an annual production of more than 400,000 tonnes, citing air and water pollution.

Vedanta says it loses 50 million rupees daily due to smelter shutdown

Vedanta Chairman Agarwal said the company could face a loss of USD 100 million if the plant remained shut for a year.

01 Mar 2019 10:49 AM

The court will continue to hear the case even though it has not stayed the earlier order by the National Green Tribunal.

Supreme Court clears way for reopening Vedanta's copper smelter

Vedanta will now file an application with the Tamil Nadu pollution regulator seeking consent to operate the smelter.

08 Jan 2019 2:53 PM

The company had challenged the order in the National Green Tribunal (NGT).

Vedanta stock surges 6 per cent post NGT order on Tuticorin unit

The stock, after a positive opening on the NSE, gained 5.80 per cent to the intra-day high of Rs 213.30.

17 Dec 2018 1:48 PM

In May, the Tamil Nadu government had decided to shut down the Sterlite Copper plant, which accounts for a 40 per cent share in India’s annual copper production of 10 lakh tonnes, over alleged pollution. (Photo: File | PTI)

Vedanta Sterlite closure 'unjustifiable', may reopen as NGT cancels TN order

NGT directed Vedanta Limited to spend Rs 100 crore over a period of three years for 'welfare activities' in the area.

15 Dec 2018 2:44 PM

Vedanta has denied it is responsible for pollution or human rights abuses.

Vedanta shareholders back London delisting amid protest

The cancellation of the listing was confirmed at a final London shareholders’ meeting.

02 Oct 2018 9:06 AM

The Supreme Court on Tuesday agreed to hear tomorrow a plea of ArcelorMittal seeking extension of time for payment of Rs 7,000 crore as ordered by NCLAT last week for its bid to become eligible for Essar Steel.

SC to hear tomorrow plea of ArcelorMittal against NCLAT order on Essar auction

Anil Aggrawal's Vedanta is a third qualified bidder for Essar Steel.

11 Sep 2018 11:45 AM

Second round bids by NuMetal, Vedanta for Essar Steel valid, says NCLAT

Justice S J Mukhopadhaya directed lenders of the Essar Steel to expeditiously take a decision.

07 Sep 2018 11:55 AM

The NGT had on August 9 allowed Vedanta to enter the administrative unit inside its Sterlite copper plant, observing that no environmental damage would be caused by allowing access to the administrative section.

No urgent hearing of Vedanta’s access to Sterlite plant in Tuticorin: SC

A bench of Chief Justice Dipak Misra and Justices A M Khanwilkar and D Y Chandrachud said it will hear the plea next week.

04 Sep 2018 3:29 PM

Metals and mining giant Vedanta Ltd on Friday said it will pump in around USD 8 billion (about Rs 56,000 crore) over the next three years on various projects across businesses.

Vedanta to invest close to USD 8 billion in next 3 years: Chairman

There is immense growth potential in sight, Vedanta Ltd Chairman Navin Agarwal said at the company's Annual General Meeting.

24 Aug 2018 3:00 PM

Tamil Nadu ordered the permanent closure of the plant and disconnected its power supply in May.

NGT says committee to decide fate of shut Vedanta copper smelter

The smelter has an annual production capacity of more than 400,000 tonnes.

20 Aug 2018 3:20 PM

Vedanta Limited has said it will be investing USD 2.3 billion towards capex on its oil and gas activities in the 'near term' to increase the reserve base by around 375 million barrels.

Vedanta to invest USD 2.3 billion in 'near term' on oil and gas

Vedanta aims to increase production from the current 2,00,000 barrels of oil equivalent per day to 3,00,000 bpd.

19 Aug 2018 3:34 PM

The NGT had on August 9 allowed Vedanta to enter administrative unit inside Sterlite copper plant, observing that no environmental damage would be caused by allowing access to administrative section. (Photo: File)

NGT will decide on Vedanta’s plant in Tuticorin: Supreme Court

SC refused to hear TN govt plea against NGT order allowing Vedanta access to administrative unit inside closed Sterlite plant at Tuticorin.

17 Aug 2018 6:46 PM

Vedanta on Thursday said it is yet to receive notification from the Madras High Court on the latter issuing notice to the group's Sterlite Copper plant on a petition seeking Rs 750 crore compensation and asserted that it will evaluate further course of action upon study of the same.

Yet to receive notification from Madras HC on Sterlite petition: Vedanta

The Madras High Court had earlier this week issued a notice to the Sterlite Copper plant.

16 Aug 2018 1:17 PM

The National Green Tribunal (NGT) on Thursday granted Vedanta Ltd conditional access to its copper smelter in Tamil Nadu, more than two months after the southern state shut the plant down. (Photo: PTI)

NGT grants Vedanta conditional access to its copper smelter

The Tamil Nadu government ordered the permanent closure of the Thoothukudi plant and disconnected its power supply.

09 Aug 2018 2:40 PM

Anil Agarwal-led Vedanta Ltd is likely to bag as many as 40 oil and gas exploration blocks in India's maiden open acreage auction, official sources said on Tuesday.

Vedanta set to bag 40 oil blocks, ONGC 2 and HOEC 1 in open auction

The recommendations of the panel will now go to ministers of finance and petroleum for approval.

07 Aug 2018 2:57 PM

Miner Vedanta Resources Plc, which is set to taken private by Chairman Anil Agarwal, reported on Monday a 26.3 per cent rise in first-quarter core earnings on higher commodity prices.

Vedanta's quarterly core earnings rise; India copper output drops

Copper production from India fell 73.3 per cent in the quarter after the company closed its facility in southern India.

06 Aug 2018 12:17 PM

Metals and mining giant Vedanta Ltd on Tuesday posted barely 2.13 per cent rise in consolidated net profit to Rs 1,533 crore for the first quarter ended June 30, 2018-19.

Vedanta Q1 net profit up 2 per cent to Rs 1,533 crore

The consolidated total income during the first quarter of the current fiscal increased to Rs 22,624 core.

31 Jul 2018 7:37 PM

The closure of Vedanta's Sterlite Copper unit in Tamil Nadu has led to rise in import of copper worth USD 2 billion and export loss of over USD 1.5 billion, resulting in an overall loss of Rs 20,000 crore to the economy, a top company official on Tuesday said. (Photo: PTI)

Sterlite shutdown led to Rs 20,000 cr loss to Indian economy, says CEO

The company was supplying 2,50,000 tonne per annum of copper to the domestic market.

31 Jul 2018 2:11 PM

Tamil Nadu state government ordered a permanent closure of the plant in May.

Vedanta's smelter closure has hurt companies, put people out of jobs: executive

Company planned to retain all the employees on its rolls as it fights for lifting of the ban on operations.

27 Jul 2018 8:41 AM

Shares in the company were trading down 2.74 per cent at 202.50 rupees.

Vedanta says Tuticorin copper smelter shutdown could cost USD 100 million: TV

Vedanta has sought a permanent injunction against the state government from interfering with the operations of its copper smelter.

20 Jul 2018 3:14 PM

Tamil Nadu will ask the nation’s environment court to dismiss a Vedanta Ltd petition seeking to reopen its copper smelter, a lawyer representing the state government said on Wednesday. (Photo: PTI)

TN govt to ask court to dismiss Vedanta plea to reopen copper smelter

The Tamil Nadu government ordered the permanent closure of the plant and disconnected its power supply in May.

18 Jul 2018 2:15 PM

Yoga guru Baba Ramdev met Vedanta boss Anil Agarwal and his wife in London. (Photo: Twitter/@yogrishiramdev)

Baba Ramdev backs Sterlite after meeting Vedanta boss, heaps praise on Anil Agarwal

Baba Ramdev claimed that the anti-Sterlite protestors in Tuticorin were instigated by 'international conspirators'.

26 Jun 2018 3:51 PM

Vedanta on Monday said it is working with Tamil Nadu's pollution control board and district administration to "evacuate" the acid spillage safely at its Tuticorin copper smelter plant, which was shut down last month.

Working to evacuate acid spillage at Tuticorin plant, says Vedanta

The company's filing came in response to a query raised by stock exchanges regarding reports related to acid leak at the facility.

25 Jun 2018 3:34 PM

A minor leak has been detected in the sulphuric acid storage plant in Vedanta’s south Indian copper smelter, a government official said on Sunday.

Minor leakage at Vedanta's south Indian copper smelter, says official

Police opened fire on a crowd of protesters on May 22 calling for the shutdown on the grounds of pollution.

18 Jun 2018 11:13 AM

Sikaka and other representatives of the Dongria Kondh tribe, with an estimated population of up to 16,000, say they fear the company aims to revive plans to tap the high-quality bauxite beneath the pristine Niyamgiri hills. (Photo: AP)

We'll shed our blood for Niyamgiri: Sterlite-like crisis for Vedanta in Odisha

The poster behind him demanded: 'Polluter and killer company Vedanta to quit India. Tribute to martyrs of Tuticorin'.

13 Jun 2018 9:24 PM

Metal and mining giant Vedanta has acquired the management control of debt-laden Electrosteel Steels.

Vedanta acquires management control of Electrosteel Steels

Vedanta Ltd had last week deposited an upfront amount of Rs 5,320 crore also in the escrow account of Electrosteel Steels Ltd.

11 Jun 2018 2:29 PM

Investment from VSL in ESL shall be done through a combination of equity of Rs 1,765 crore and inter-corporate loan of Rs 3,555 crore.

Vedanta deposits Rs 5,320 cr in Electrosteel Steels escrow account

The company has acquired control over ESL and a new board of directors has been put in place.

05 Jun 2018 9:39 AM

Tamil Nadu govt this week ordered the state Pollution Control Board to seal and "permanently" close the Vedanta group's copper plant in Tuticorin.

Copper plant closure won't affect Vedanta's cash flow much, says S&P

Vedanta will likely need to reconfigure such financing, including fresh local borrowings.

31 May 2018 2:55 PM

Vedanta Ltd on Monday asked the National Company Law Appellate Tribunal (NCLAT) to vacate its order for maintaining status quo over the sale of debt ridden Electrosteel Steel.

Vedanta asks NCLAT to lift stay over Electrosteel sale status quo

Renaissance has submitted before NCLAT that Vedanta is not eligible to bid for Electrosteel under section 29 A.

28 May 2018 5:25 PM

Around 250,000 tonnes of the output is consumed locally, making up for 36 percent of India’s demand.

Vedanta sticks with plan to expand Indian smelter despite deadly protests

Vedanta wants to double the smelter’s capacity mainly to meet India’s rising copper demand.

28 May 2018 8:33 AM

Samarendra Das from Foil Vedanta also called on the UK government to investigate and delist this company.

UK Opposition wants Vedanta delisted from London Stock Exchange

Violent protests had erupted in Tuticorin on Tuesday as locals took to the streets demanding closure of a copper factory.

26 May 2018 4:14 PM

On NSE shares of the company dropped 6 per cent to Rs 253.75.

Vedanta shares drop 6 per cent after protests in Tamil Nadu

After opening the day on a weak note, the stock further lost 5.80 per cent to Rs 253.85 on BSE.

23 May 2018 12:26 PM

India may turn into a net importer of copper by the year ended March 2020.

Vedanta says Indian copper smelter shutdown causing deficit, price rise

Copper prices hit more than six-year lows in 2016 but have gained more than 50 per cent from those levels.

19 May 2018 11:14 AM

Lenders will get 7.6 per cent stake in Jharkhand-based steel mill Electrosteel if Vedanta Ltd's bid to take over the company goes through.

Lenders to get 7.6 pc in Electrosteel after Vedanta takeover

Company officials said the shareholder approval and the legal challenge are two separate things which can go parallelly.

03 May 2018 1:51 PM

According to sources, the resolution plan involved close to Rs 5,300 crore cash payout and a haircut of 60 per cent of the total banks’ debt.

Vedanta gets NCLT nod for Electrosteel takeover

The 270-day resolution deadline stipulated by IBC ended Tuesday.

18 Apr 2018 8:27 AM

Shares of Vedanta Resources were up 1.7 per cent at 1524 GMT.

Vedanta hit by up to USD 600 mn charge for Goa iron ore unit closure

Vedanta Ltd is expected to produce around 5.5 million tonnes of Goa ore in the fiscal year ending March 31.

30 Mar 2018 12:04 PM

Vedanta, Adani may bid for $9 bn Indian diamond mine left by Rio

Madhya Pradesh was likely to invite bids in first week of November to explore deposit.

27 Oct 2017 11:17 AM

Vedanta Resources Group Chairman Anil Agarwal.

Vedanta bets big money on ramping up output, but sets rider

Government to allow export of crude oil produced from the Barmer fields in Rajasthan to discover the right price.

10 Oct 2017 2:58 PM

Sums due to Cairn from Vedanta India Ltd now total USD 104 million.

Cairn tax dispute: I-T dept orders recovery of Rs 10,000 crore

Tax department will now move to take over the 9.8 per cent shareholding Cairn Energy had in Cairn India.

19 Jun 2017 12:36 PM

Cairn seeks int'l panel help against IT-dept

Cairn has resorted to arbitration under the India-UK bilateral investment protection treaty.

08 Jun 2017 3:27 PM

Siemens bags contract from Vedanta for digital fleet solution

Siemens will initially provide three years of maintenance and service support to help ensurereliability and operational performance.

17 May 2017 4:55 PM

RBI nod awaits Vedanta-Cairn merger

RBI is still to give nod for issuing redeemable preference shares to the non-resident shareholders.

28 Mar 2017 2:19 PM

Vedanta Resources chairman Anil Agarwal.

Anil Agarwal defends Anglo American stake bid

Vedanta Resources chairman was planning a takeover bid after becoming second largest shareholder in Anglo American.

20 Mar 2017 6:09 PM

Vedanta to invest $10 bn on expanding business

Vedanta Resources subsidiary Cairn produces over 2,00,000 barrels oil and oil equivalents per day.

19 Feb 2017 4:55 PM

Vedanta to invest $1 bn in Jharkhand, build steel plant: Agarwal

Vedanta initially plans to invest about Rs 2,000 cr in setting up one million pig iron and ductile pipe plant at Manoharpur.

16 Feb 2017 12:51 PM

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