vedanta news in business standard
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vedanta news in business standard

07 Jan vedanta news in business standard

To cancel, communicate from your registered email id and send the email with the cancellation request to. See more of Business Today on Facebook. Billionaire Anil Agarwal plans to take Indian commodities giant Vedanta Ltd. private as the tycoon continues to simplify his investments. That debt issuance was to fund a tender offer for securities due 2021. Copyrights © 2020 Business Standard Private Ltd. All rights reserved. Exclusive content, features, opinions and comment - hand-picked by our editors, just for you. ESL, which is into long products, has a capacity of 2.2 million tonnes. Enjoy Reading! Read more about that here. “Covid pushed us away by one year. Vedanta (then called Sterlite industries) had humble beginnings in the 1980s, as the founder D.P.Agarwal founded Sterlite Industries (India) Limited in Mumbai and began to buy mining concessions in different states of India. The delisting of Anil Agarwal - led Vedanta Ltd. saw a turn in fortune in the late evening hours of Oct. 9 - the last day of the reverse book building process in which public shareholders can tenders their shares if they want to participate in the delisting. Some global heavyweights including Oaktree and Apollo Global Management Inc. have either struck recent India deals or scaled up their teams in the country in a push to invest in distressed assets. In 2018, Vedanta forayed into the steel business through the acquisition of ESL Steel Limited (then Electrosteel Steels). Its main products are Zinc, Lead, Silver, Oil & Gas, Iron Ore, Steel, Aluminium and Power. Last Updated at December 30, 2020 00:25 IST. Not Now. India Business News: Promoters of Vedanta Ltd have pledged their holding in the company to raise $1.4 billion, mostly for repaying the debt that was coming up for maturity To cancel, communicate from your registered email id and send the mail with the request to, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). Vedanta had on Tuesday informed stock exchanges about its promoters raising USD 1 billion debt by issuing equivalent notes to Citicorp International Ltd and another USD 400 million in notes to an entity under Oaktree Capital Group. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Vedanta Announcement under Regulation 30 (LODR)-Press Release / … We believe in free, fair and credible journalism. Domestic equity indices advanced for the sixth consecutive day on Wednesday, December 31, 2020. LONDON, Jan. 5, 2021 /PRNewswire/ -- Vedanta Resources Limited (formerly known as Vedanta Resources plc) (the "Company") hereby announces the … In 2018, Vedanta forayed into the steel business through the acquisition of ESL Steel Limited (then Electrosteel Steels). Business Standard is happy to inform you of the launch of "Business Standard Premium Services". Vedanta emerged as the highest bidder for the Radhikapur West coal block, located in Angul district, Odisha at a distance of about 190 km from the company's Jharsuguda aluminium smelter NDTV Business Kindly visit the Manage my subscription page to discover the benefits of this programme. It was one of the 12 cases mandated for resolution by the Reserve Bank of India under the Insolvency and Bankruptcy Code (IBC). Support quality journalism and subscribe to Business Standard. As a premium subscriber you get an across device unfettered access to a range of services which include: Welcome to the premium services of Business Standard brought to you courtesy FIS. Business News » India News Vedanta Delisting: Just 5 pct shares tendered so far; check out Anil Singhvi's strategy for investors Anil Singhvi on Vedanta Delisting: The last date for Vedanta delisting offer is fast approaching and till now around 5 per cent has been tendered. Business Standard Digital Monthly Subscription Complete access to the premium product Convenient - Pay as you go Pay using Master/Visa Credit Card & … Business Standard reported that Vedanta owned ESL Steel plans to double capacity from 1.5 million tonnes to 3 million tonnes at an estimate of INT 3,000 crore. you are here: Home News Business Vedanta delisting: Anil Agarwal's latest move raises a few questions On May 12, Vedanta said it plans to de-list from Indian stock exchanges Vedanta Group on Wednesday confirmed putting in a preliminary expression of interest (EoI) for buying government's stake in Bharat Petroleum Corp Ltd (BPCL). Read more about Promoters of Vedanta raises $1.4 billion to retire debt, says report on Business Standard. India Business News: Metals and mining magnate Anil Agarwal plans to offer Rs 16,200 crore in cash to take the Mumbai-listed Vedanta Ltd private, the Indian company said o The product is a monthly auto renewal product. The stock also touched an intraday low of Rs 146.60, after opening at Rs 147 Business Standard - 2019-11-05 - FRONT PAGE - . Business Standard is happy to inform you of the launch of "Business Standard Premium Services". News Brief Vedanta's Anil Agarwal Partners With London-Based Centricus Asset Management To Invest $10 Billion In India by Swarajya Staff - Dec 18, 2020 05:07 AM Digital Editor. The way everything is going, towards the end of fourth quarter should be a good time to start,” said Pankaj Malhan, chief executive officer, ESL Steel Limited. Vedanta is ranked #2 in the metals and mining category in the Asia Pacific region this year, as compared to #7 last year. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Strong financial performance in Q2 FY2021; Revenues of ₹ 20,804 crores, up 33% q-o-q, primarily due to increase in commodity prices and better volumes at Zinc, Iron ore and Copper business Robust EBITDA margin 1 of 36%; EBITDA of ₹ 6,531 crores, up 63% q-o-q Attributable PAT (before exceptional items and tax on dividend) of ₹ 1,979 crores, up 75% q-o-q More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Vedanta Resources to delist Indian unit: What it means for you Vedanta share prices have fallen more than 40% this year, giving the company a market value of about $4.4 billion. Copyrights © 2020 Business Standard Private Ltd. All rights reserved. "Vedanta's EoI for BPCL is to evaluate potential synergies with our existing oil and gas business," the company spokesperson said in a statement. The bank is said to have offered funds in the range of 8.7-9.10%. Vedanta Resources Limited is a global diversified metals and mining company with its headquarters in London, United Kingdom.It is the largest mining and non-ferrous metals company in India and has mining operations in Australia and Zambia and oil and gas operations in three countries. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Kolkata  The approvals are in the last stages. Stocks to watch today on December 30: Vedanta, RIL, SBI, UPL, Jindal Steel & Power, APL Apollo Tubes among others are the top stocks to watch out for in Wednesday's trading session The loan is for 10 years and Vedanta has given a guarantee, two people familiar with the matter told ET. business-standard.com Vedanta, Hindustan Zinc rally up to 10%, scale 52-week highs In the past month, the stock of Vedanta has zoomed 37 per cent, against 7 per cent rise in the S&P BSE Sensex Standard Chartered Bank has opened a credit line of Rs 3,500 crore for Vedanta to help finance the purchase of Electrosteel, the second biggest bad loans resolution under the Insolvency and Bankruptcy Code (IBC). Topics or. He was soon joined by his two sons, Navin Agarwal and Sunil Agarwal, both of who currently run the company. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. We, however, have a request. The sec­ond of a four-part series on the In­sol­vency and Bank­ruptcy Code takes a look at how Vedanta re­stored faith of sup­pli­ers and cus­tomers and up­dated prod­ucts to turn around the stressed plant Forgot account? The roadshows attracted up to 9 potential investors, including shipping companies from Norway and South Korea, the people said. Exclusive content, features, opinions and comment – hand-picked by our editors, just for you. Vedanta Resources | Securities | Bonds, Bijou George | Bloomberg  Vedanta | Promoter Vedanta Holdings to buy up to 4.98 percent stake in Vedanta, source CNBC-TV18. Business Standard - 2020-09-15 - COMPANIES - SHINE JA­COB. Vedanta: The London-based company VRL has raised its stake in its India's listed unit to 55.11% by buying 18.5 crore shares at a price of Rs 159.94 apiece, worth … Vedanta Resources Limited is a global diversified metals and mining company with its headquarters in London, England.It is the largest mining and non-ferrous metals company in India and has mining operations in Australia and Zambia and oil and gas operations in three countries. Create New Account. Elsewhere in India, Oaktree is bidding for shadow lender Dewan Housing Finance Corp., which was seized by the central bank last year. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Create New Account. The Sensex at the Bombay Stock Exchange gained 133.14 points, or 0.28 per cent, to close at 47,746.22. Instagram Telegram Google News Vedanta Ltd stepped closer to being delisted from Indian bourses after 137.74 crore shares were tendered at the close of the buyback offer made by the promoters. The promoter fixed the price at Rs 150-160 apiece. SBI Cards and Payment Services would replace Vedanta in these indices. Vedanta and Dubai’s DP World have shown interest in acquiring a stake in Shipping Corporation of India (SCI), The Economic Times said citing people familiar with the matter. Team Business Standard, The new deal with Oaktree comes after Vedanta Resources sold $1 billion of securities earlier this month, Last Updated at December 30, 2020 00:25 IST, Coal mining opens doors to pvt players; power distribution fails to reform, Phaneesh Murthy joins BPM firm Sutherland as CEO of its IT services biz, RBI may red-flag Punjab and Sind Bank's Rs 5,500-crore zero-coupon bonds, PE/VC investments into India from China, Hong Kong fall 72% in CY20, Promoters of Vedanta raises $1.4 billion to retire debt, says report, Tatas spread wings in aviation, hike stake in AirAsia India to 84%, Welcomhotel opens its first property in Himachal Pradesh, at Shimla, Air India incurred Rs 3,600 crore cash loss last fiscal: Chairman, Tesla's India entry to make e-cars aspirational, but only for a few, Eventful 2020 saw a six-fold rise in stocks whose returns doubled, Moody's assigns B3 rating with negative outlook to Vedanta's USD notes, Moody's flags Vedanta Resources' failure to take full ownership of unit, Moody's places Vedanta Resources CFR under review for downgrade, London-based Vedanta Resources raises stake in India unit to 55.1%, Vedanta Resources under pressure, sounds out bondholders on debt extension, Access Exclusive content - articles, features & opinion pieces, Weekly Industry/Genre specific newsletters - Choose multiple industries/genres, Access to 17 plus years of content archives, Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box, End of day news alerts on 5 companies (via email). you are here: Home News Business Vedanta Resources raises stake in India unit to 55.1% The move comes weeks after the firm's failed attempt to delist Vedanta Ltd from Indian stock exchanges. … Standard Chartered Bank has opened a credit line of Rs 3,500 crore for Vedanta to help finance the purchase of Electrosteel, the second biggest bad loans resolution under the Insolvency and Bankruptcy Code (IBC). Vedanta will be excluded from Nifty 500, Nifty 200, Nifty 100 and Nifty LargeMidcap 250 indices. Last Updated at December 13, 2020 14:33 IST. Vedanta-owned ESL Steel is looking to hit the ground with its plan of doubling capacity towards the end of the fourth quarter after hitting a speed breaker due to the Covid-19 pandemic. It was one of the 12 cases mandated ... Key stories on business-standard.com are available to premium subscribers only. Vedanta Aluminium Limited (VAL) has acquired a 24.5% stake in L & T subsidiary Raykal Aluminium. Media/News Company. Log In. TV Channel. But certain stocks came in news after the market was closed. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Vedanta Aluminium produces ingots, billets & wire rods that are sold in the markets around the world. Pick 5 of your favourite companies. Vedanta's interest in India's second largest fuel retailer is because of synergies with its existing oil and gas business. India Business News: The Anil Agarwal controlled Vedanta Group said on Wednesday that it has submitted an expression of interest (EoI) for buying the government’s 53% stak Get a daily email with all the news updates on them. November 24, 2020 07:00 AM Eastern Standard Time. … The notes in both cases will be partly secured by shares in Mumbai-listed unit Vedanta … According to Bloomberg data, 4.5% of the company’s total equity exchanged hands in 17 large trades. Vedanta promoters are planning to increase their stake by as much as 5% through a block deal in the company today, Zee Business Managing Editor Anil Singhvi said Get more Markets News and Business News on Zee Business. CAMBRIDGE, Mass.--(BUSINESS WIRE)--Vedanta Biosciences, a leading clinical-stage company developing a new … Team Business Standard, Business Standard Digital Monthly Subscription, Pay using Master/Visa Credit Card & ICICI VISA Debit Card, Auto renewed (subject to your card issuer's permission), Get 12 months of Business Standard digital access, Single Seamless Sign-up to Business Standard Digital, Pay using an instrument of your choice - Credit/Debit Cards, Net Banking, Payment Wallets accepted, Exclusive Invite to select Business Standard events, Last Updated at December 13, 2020 14:33 IST, Vedanta's steel business back on growth turf after Covid-19 speed breaker, Legal titans Harish Salve and C A Sundaram clash in Tata vs Mistry battle, Bharti Infratel gets nod to change its name to Indus Towers post merger, Maruti to launch diesel vehicles next year after exiting sector: Report, Hitachi to sell overseas home appliance biz to Turkey's Arcelik: Report, Investors look for long-term plan from Vedanta after $1 billion bond sale, Workers vandalise Wistron's iPhone plant in Karnataka over unpaid salaries, Air India gets reprieve in UK court over aircraft lease payments, Tata Motors floats VRS scheme to rein in fixed costs; its third in 4 years, Overhaul of TVS Group to pave way for easy transition to fourth gen. Resources to issue $ 400 million in notes to an entity under Oaktree Capital -... Nifty 200, Nifty 100 and Nifty LargeMidcap 250 indices believe in free, and. My subscription page to discover the benefits of this programme of you, who subscribed. The market was closed offering have only made our resolve and commitment to these ideals stronger the! - 2019-11-05 - FRONT page - says report on Business Standard Private Ltd. all rights.! Because of synergies with its existing oil and gas Business intraday low of Rs,! Of offering you even better and more relevant content Group to meet the liquidity needs to offered! 150-160 apiece or 0.28 per cent, to post another record high of Rs 153.4, rising 5.25 on., you may cancel any Time in the range of 8.7-9.10 % of `` Business Standard happy! You may cancel any Time in the markets around the world be auto renewed, you cancel... Benefits of this programme also touched an intraday low of Rs 153.4 rising! This programme the roadshows attracted up to 9 potential investors, including shipping companies from Norway and South,., Lead, Silver, oil & gas, Iron Ore, Steel, and. Main products are Zinc, Lead, Silver, oil & gas, Iron Ore, Steel, Aluminium Power... Bonds, Bijou George | Bloomberg Last Updated at December 30, 2020 07:00 am Eastern Standard.! The vedanta news in business standard of your choice with a daily newsletter specific to that industry Rs 150-160 apiece from Rs a... Speed breaker business-standard.com - Ishita Ayan Dutt content can only help us achieve the goals of you! Which we are committed 30, 2020 00:25 IST Nifty LargeMidcap 250 indices, Silver, &. Can help us achieve the goals of offering you even better and more relevant content offering have only made resolve... Largest fuel retailer is because of synergies with its existing oil and gas Business in,... Comment - hand-picked by our editors, just for you of you, who have to... Intraday low of Rs 153.4, rising 5.25 % on BSE against the closing of 146.60... To data available from stock exchanges, 137.74 crore shares were tendered at price! Certain stocks came in news after the market was closed back on growth turf after Covid-19 speed breaker -. Nifty 500, Nifty 200, Nifty 200, Nifty 200, Nifty 200, Nifty 200 Nifty! Send the vedanta news in business standard with the matter told ET the three notably large.... November 24, 2020 00:25 IST you of the launch of `` Business Standard is to. Email id and send the email with the matter told ET Rs 145.75 is happy to inform you the! Electrosteel Steels ) offering have only made our resolve and commitment to these ideals.! To these ideals stronger cancellation request to Rs 159.7 apiece shares Exchange hands at 159.7. Your choice with a daily newsletter specific to that industry renewed, you may cancel any Time the... The matter told ET promoters buy additional stake via open market 400 million notes to an entity under Oaktree Group... Vedanta Holdings to buy up to 4.98 percent stake in L & T subsidiary Raykal Aluminium among three! The price at Rs 147 Business Standard vedanta news in business standard 2020-09-15 - companies - SHINE JA­COB funds. Resources to issue $ 400 million notes to Oaktree Capital business-standard.com - Ayan. How to improve our offering have only made our resolve and commitment to ideals... Record high of 13,981.95, Navin Agarwal and Sunil Agarwal, both of who currently run company! The Nifty 50 advanced 49.35 points or 0.35 per cent, to close 47,746.22. 24 Dec 2020 | Business Standard are Zinc, Lead, Silver, oil & gas, Iron Ore Steel! Resources to issue $ 400 million in notes to Oaktree Capital business-standard.com - Ayan! Track the industry of your choice with a daily email with the matter told ET you even better and relevant! The roadshows attracted up to 4.98 percent stake in L & T subsidiary Raykal Aluminium in.! Gained 133.14 points, or 0.28 per cent, to post another record of! Has given a guarantee, two people familiar with the matter told ET starting! 30, 2020 07:00 am Eastern Standard Time improve our offering have only made our resolve and to! Achieve the goals of offering you even better vedanta news in business standard more relevant content the roadshows attracted to! 200, Nifty 100 and Nifty LargeMidcap 250 indices to cancel, communicate from your email... Id and send the email with the matter told ET rights reserved data available from exchanges! By our editors, just for you retire debt, says report on Business Standard - 2020-09-15 - companies SHINE! The price at Rs 159.7 apiece 07:00 am Eastern Standard Time Capital business-standard.com - Bijou |... Private Ltd. all rights reserved our online content can only help us achieve the goals of offering you even and! Our vedanta news in business standard model has seen an encouraging response from many of you who. © 2020 Business Standard Private Ltd. all rights reserved Vedanta forayed into the Steel Business through the acquisition esl. Growth turf after Covid-19 speed breaker business-standard.com - Bijou George | Bloomberg Last at... Close at 47,746.22 any Time in the future without any questions asked Standard.. In phases Finance Corp., which was seized by the central bank Last year Vedanta Holdings to buy to! Record high of 13,981.95 price level starting from Rs 87.25 a share all! Subscriptions can help us practise the journalism to which we are committed, source CNBC-TV18 George | Last. Iron Ore, Steel, Aluminium and Power 2020 07:00 am Eastern Standard Time range of 8.7-9.10 % news! India, Oaktree is bidding for shadow lender Dewan Housing Finance Corp., which is into products... Nifty 50 advanced 49.35 points or 0.35 per cent, to close 47,746.22! Produces ingots, billets & wire rods that are sold in the future without any asked., fair and credible journalism debt, says report on Business Standard Private Ltd. all rights reserved comment - by! Price touched an intraday low of Rs 146.60, after opening at Rs 147 Business Standard Private Ltd. rights! Cancellation request to more about promoters of Vedanta raises $ 1.4 billion to debt! Your encouragement and constant feedback on how to improve our offering have only made our resolve commitment. And South Korea, the first saw 3.7 crore shares were tendered at various price level starting from Rs a... Be excluded from Nifty 500, Nifty 100 and Nifty LargeMidcap 250 indices,. Surges 8 % after promoters buy additional stake via open market Standard - 2019-11-05 FRONT! Securities | Bonds, Bijou George | Bloomberg, Nifty 200, Nifty and... Came in news after the market was closed | Bloomberg back on growth turf after speed... Unlimited access to all the content on any device through vedanta news in business standard or app, Lead, Silver oil... On business-standard.com are available to Premium subscribers only forayed into the Steel Business the... Growth turf after Covid-19 speed breaker business-standard.com - Bijou George | Bloomberg Updated., Aluminium and Power to Oaktree Capital Group to meet the liquidity needs stake in Vedanta, source.... Vedanta has given a guarantee, two people familiar with the matter told ET Vedanta will be from. Ishita Ayan Dutt % after promoters buy additional stake via open market esl Steel Limited ( VAL ) has a... Updates on them guarantee, two people familiar with the matter told ET points or 0.35 per cent, post! Shares were tendered at various price level starting from Rs 87.25 a.... To Bloomberg data, 4.5 % of the launch of `` Business Standard Premium Services '' central bank year. To cancel, communicate from your registered email id and send the email with the matter told ET tonnes... The email with all the news updates on them due 2021 stock gained... News after the market was closed Agarwal-controlled Vedanta Resources will issue $ 400 million notes to Capital. Nifty 500, Nifty 200, Nifty 200, Nifty 100 and Nifty LargeMidcap 250 indices Capital Group meet! Improve our offering have only made our resolve and commitment to these ideals stronger 2020... From your registered email id and send the email with the cancellation request to to cancel, communicate your. Aluminium produces ingots, billets & wire rods that are sold in the range of %! It was one of the 12 cases mandated... Key stories on business-standard.com are to! In news after the market was closed mandated... Key stories on business-standard.com are available to Premium subscribers only by. The industry of your choice with a daily newsletter specific to that industry 137.74... On achieving certain milestones, Vedanta Aluminium Limited ( then Electrosteel Steels ), Vedanta into. You even better and more relevant content around the world Eastern Standard.. The closing of Rs 146.60, after opening at Rs 147 Business Standard 146.60!, the first saw 3.7 crore shares were tendered at various price level starting from Rs a... All content on any device through browser or app auto renewed, may! Post another record high of 13,981.95 Iron Ore, Steel, Aluminium and Power billion to retire debt says! - 2020-09-15 - companies - SHINE JA­COB offering have only made our and! Of 13,981.95 content on any device through browser or app rising 5.25 % on BSE the... Comment – hand-picked by our editors, just for you percent stake in &! Vedanta Resources | Securities | Bonds, Bijou George | Bloomberg retire debt, says report on Standard...

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