Vedanta | The Asian Age

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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

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Dilip Cherian