Vedanta Resources News

Vedanta-Foxconn signed an MoU with the Gujarat government to set up a semiconductor unit. Vedanta-Foxconn would invest Rs 1,54,000 crore to set up the facility in Gujarat. Rs 94,000 crore will go into setting up the display manufacturing unit, while Rs 60,000 crore will be invested in the semiconductor facility.

In addition, the shareholders will be entitled to receive the dividend of USD 0.41 per share in respect of the 12 months ended March 31, 2018.

Vedanta has often been accused of making a mockery of environmental laws. The latest fire that Anil Agarwal is attempting to fight is raging in Tamil Nadu's Tuticorin district.

Agarwal, who holds a 71.4 percent stake in Vedanta, told the Financial Times in an interview published on Wednesday that he plans to step back from running the company.

The latest ban would affect not only Vedanta but also several small unlisted companies run by local families. 

Founded by Shashi and Ravi Ruia, Essar Steel was referred to the National Company Law Tribunal last year after accumulating nearly Rs 50,000 crore in debts.

He further said that this decade will belong to India and it is the best time to invest here.

The government needs to improve business climate further, encourage self certification and trust entrepreneurs for promoting new businesses, NRI billionaire Anil Agarwal said on Thursday.

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.

London-based energy major Vedanta Resources, which owns a clutch of operating companies in the country today raised USD 1 billion through an 5-year bond sale to overseas investors at a fixed coupon of 6.375 percent.

Indian mining giant Vedanta Resources has been ordered by London High Court to pay over USD 100 million to a Zambian investment company related to a 2013 copper price agreement, the state-owned firm claimed today.

Government has sought putting on hold the arbitration initiated by British oil explorer Cairn Energy against a Rs 29,047 crore retrospective tax demand and instead wants a parallel arbitration initiated by Vedanta Resources to be taken up first.

Mining giant Vedanta Resources has paid more than USD 2 billion (over Rs 13,300 crore) in taxes, royalties, licence fees and other payments to India in the last financial year ended March 2016.

Mumbai: Tasmania has offered a financial package of 25 million Australian dollar (ASD) to Vedanta Resources for restarting a copper mine by 2017, the Australian state's premier, Will Hodgman said.

Mining conglomerate Vedanta Resources Tuesday said its shareholders have approved the merger of group firms Vedanta Ltd and Cairn India.

Unable to quickly absorb its cash-rich oil subsidiary Cairn India, mining billionaire Anil Agarwal's Vedanta Ltd on Friday sweetened the merger deal by offering three additional preference shares.

The mining giant led by billionaire Anil Agrawal had posted net loss of USD 3.8 billion in 2014-15, it said in a regulatory filing.

Mining conglomerate Vedanta Resources today said it will buy-back bonds worth USD 348.6 million (about Rs 2,314 crore).

 Describing aluminium as the future, Vedanta Resources Chairman Anil Agarwal today said the consumption of the metal will rise to 20 million tonnes (MT) from the present 2 MT going ahead.

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.