Gautam Adani isn’t the only Indian tycoon in trouble. Look at Vedanta
By Andy Mukherjee | Bloomberg NEW DELHI: Highly leveraged Indian tycoons are having a rough time. Gautam Adani’s $236 billion infrastructure empire has shrunk by more than three-fifths in a month. But while his relentless rise and spectacular fall hog headlines, a smaller storm may be brewing for another well-known magnate. Anil Agarwal’s once-London-listed Vedanta […]
Vedanta mulls group restructuring; separate listing of businesses
NEW DELHI: Billionaire Anil Agarwal’s Vedanta Ltd on Wednesday said it is mulling restructuring of the mining behemoth that may include demerger and listing of the aluminium, iron & steel, and oil and gas businesses as standalone entities. Under the restructuring being evaluated, Vedanta Ltd and three businesses will operate parallelly, chairman Agarwal told PTI. […]
Vedanta submits preliminary EoI for BPCL, terms bid as ‘exploratory’
NEW DELHI: Anil Agarwal-led Vedanta has said that it has submitted an expression of interest (EoI) for the privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) and termed the bid as “exploratory” in nature. Vedanta is among the three to four companies which have submitted bids for the state-run oil major. “Vedanta’s EoI for BPCL is to […]
Vedanta, Jindal among bidders for first commercial coal mine allocation
NEW DELHI: Technical bids, consisting of online and offline bid documents, were opened on Wednesday, in the presence of the bidders, as a part of the auction process of 38 coal mines. The auction process for sale of coal was launched by the Coal Ministry on June 18. The last date of submission of technical […]
Vedanta lost USD 200 million in profits in one year of Tuticorin plant shutdown
NEW DELHI: Vedanta Ltd has lost about USD 200 million in profits ever since its copper smelter plant in Tamil Nadu was shut more than a year back after police fired on protesters and killed 13 people, Group Chairman Anil Agarwal said. Agarwal added that the stoppage of production at the Tuticorin plant of the […]
Vedanta to set up steel plant in Jharkhand for $4 billion
KOLKATA: Vedanta Ltd on Tuesday said it will set up a new steel plant in Jharkhand with a capacity of 4.5-million-tonne-per-annum at an investment of $3-4 billion. The plant will be part of the company’s newly-acquired Electrosteel Steels Ltd (ESL) at Bokaro, Vedanta Resources chairman Anil Agarwal said. “This would be a new steel plant […]
Vedanta plans to inject Rs 15000 crore in Odisha
BHUBANESWAR: Vedanta Resources Chairman Anil Agarwal on Monday announced the company’s plan to inject Rs 15,000 crore to raise the alumina refinery capacity at Lanjigarh three-fold to six mtpa and firm up downstream sector in Odisha in three years. The expansion of the Lanjigarh plant in phases would increase the capacity of the refinery from […]