Vedanta Group Chairman Anil Agarwal announced a $20 billion capital expenditure plan over three years for aluminium, steel, power, and zinc. Agarwal expects businesses to triple in size, citing strong demand and raw material backing, and views the current period as ideal for expansion rather than consolidation.
Vedanta's Anil Agarwal is simultaneously listing four companies to unlock growth potential, aiming to significantly increase production in aluminium, oil and gas, and steel. The move is expected to boost government tax inflows and create millions of jobs.
Vedanta's demerger exercise concludes as four entities—Vedanta Aluminium Metal, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel—begin trading on Indian stock exchanges on June 15. This move aims to unlock shareholder value and allow each business to pursue sector-specific opportunities with greater flexibility.
Vedanta Iron And Steel Ltd (VISL) has reduced, avoided, or sequestered nearly 2.5 million tonnes of carbon emissions over five years through sustainability initiatives. These include electric vehicles, sustainable logistics, waste heat recovery power, and extensive tree plantation drives.
Enforcement Directorate (ED) searched several premises of Vedanta Ltd in Delhi, Mumbai, and Udaipur over suspected FEMA violations related to brand royalty payments between its UK parent and Indian subsidiary. Vedanta is cooperating with the investigation.
Vedanta's Konkola Copper Mines has begun a 60-day shutdown of its Nchanga smelter in Zambia for essential maintenance and modernization. This move, part of a strategy to increase output, coincides with other plant shutdowns, potentially impacting global copper and sulphuric acid supplies.
The Enforcement Directorate (ED) conducted searches against Vedanta Group on Monday as part of an investigation under the Foreign Exchange Management Act (FEMA). The mining conglomerate, promoted by Anil Agarwal, is cooperating with the authorities.
The Enforcement Directorate is searching Vedanta Group properties in Delhi and Mumbai as part of a Foreign Exchange Management Act (FEMA) investigation. The company stated it is cooperating fully with authorities.
Vedanta chairman Anil Agarwal is advocating for an IPL franchise for Bihar, citing the state's rich cricketing talent and its right to a national identity. He highlighted players like Ishan Kishan and Vaibhav Suryavanshi, expressing his dream to provide Bihar's youth with world-class sporting opportunities within the state.
Vedanta Resources Ltd is negotiating with global banks to refinance its $5.25-5.5 billion debt. The company plans to raise $3.5-3.7 billion via 10-year bonds and $1.5-1.7 billion through five-year loans to better align repayments with dividend inflows.
Vedanta shares saw a technical price adjustment of nearly 65% on the NSE as the company began trading ex-demerger. The move separates four core business units into independent entities, a restructuring aimed at unlocking long-term shareholder value.
