Vedanta Group News

The company is already in discussions with stakeholders in Saudi Arabia, which is aiming to become a mineral hub in the Middle East. Considering the strong demand for zinc and its expected shortage globally, Saudi Arabia is looking to team up with global companies to become a leading producer of the metal.

Large-scale violence on May 22 against the Sterlite copper plant in Tuticorin and police firing led to the death of 12 persons. Next day saw one more youth succumbing to injuries sustained in police firing.

Nine people were killed in police firing after protests for the closure of Vedanta group's Sterlite Copper plant over pollution concerns turned violent in Tamil Nadu's Tuticorin.

British oil firm Cairn Energy plc has accused a senior finance ministry official of "privately" advising billionaire Anil Agarwal-led Vedanta Group to withhold its dividend income for a potential squaring off of a retrospective tax liability.

Vedanta Group firm Hindustan Zinc (HZL) on Wednesday announced a special dividend of Rs 13,985 crore for 2016-17, taking the aggregate amount paid by it for the fiscal to Rs 27,157 crore, the largest such payout by any company in the country.

Tax tribunal ITAT as upheld levy of Rs 10,247 crore capital gains tax on UK's Cairn Energy Plc but has held that interest cannot be charged on it as the demand was raised using retrospective tax legislation.

Vedanta Resources Group's operating profit almost doubled to USD 882.3 million for the quarter ended December, while revenue rose 26 percent to USD 3.06 billion on the back of higher production volumes mainly zinc.

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Delhi High Court Monday directed the government to positively take a decision within two months regarding extension of a production sharing contract (PSC) it has with Cairn India, a subsidiary of UK-based Vedanta group, to produce oil from a Rajasthan block till 2020.

The Supreme Court on Thursday refused permission to Vedanta Group to export iron ore mined from Karnataka while allowing National Mineral Development Corporation (NMDC) to continue with the dual pricing of the minerals.

British explorer Cairn Energy has sought USD 5.6 billion in compensation from the Indian government for raising a retrospective tax demand of Rs 29,047 crore on 10-year old internal reorganisation of its India unit.

The Patna-born mining mogul Anil Agarwal plans to convert his group Vedanta Resources Plc into a GE-like institution -- a board-run conglomerate run by best professionals -- as he does not see his children taking over the mantle from him.

Lamenting that decision making in India could have been quicker, mining baron Anil Agarwal has said his company Cairn India filed a suit against government to "help" latter decide on price and tenure of Rajasthan oilfield faster.

Cairn India Tuesday claimed in the Delhi High Court that under Foreign Trade Policy, the Centre cannot stop it from exporting crude from its Rajasthan oil field.

 NRI billionaire Anil Agarwal today announced that it will set up India's first LCD manufacturing facility, which will see an investment of USD 10 billion (about 68,000 crore) in five phases.

Cairn India Tuesday told Delhi High Court that a loss of Rs 1400 crore has been caused to the government as the company was forced to sell its share of crude from its Rajasthan oil field to private players at prices 20 percent less than the global rates.

Vedanta Ltd is a diversified natural resources company, whose business primarily involves exploring and processing minerals and oil and gas.

The Vedanta Group, which has set up a 1 MTPA refinery at Lanjigarh in Odisha's Kalahandi district, had earlier initiated process for gradual closure of the plant due to shortage of raw material.

With minority shareholders of Cairn India said to be against the merger of the company with parent Vedanta Ltd, Vedanta Group Chairman Anil Agarwal Thursday hoped he wouldn't have to sweeten the merger offer.