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Vedanta sweetens Cairn merger deal, offers 3 additional preference shares

Vedanta sweetens Cairn merger deal, offers 3 additional preference shares

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.

Vedanta Resources loss narrows to $3.5 billion in FY16

Vedanta Resources loss narrows to $3.5 billion in FY16

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.

Vedanta Resources to buy-back bonds worth up to $349 million

Vedanta Resources to buy-back bonds worth up to $349 million

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

India's aluminium consumption to rise to 20 million tonnes: Anil Agarwal

India's aluminium consumption to rise to 20 million tonnes: Anil Agarwal

 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.

Filed suit against govt to expedite pricing case: Anil Agarwal

Filed suit against govt to expedite pricing case: Anil Agarwal

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.

Vedanta Resources to buy back bonds worth $500 million

Metals and mining conglomerate Vedanta Resources will repurchase in cash bonds worth USD 500 million (about Rs 3,300 crore) out of its outstanding USD 1.13 billion convertible bonds due in July this year.

'Vedanta not considering sweetening Cairn merger offer'

'Vedanta not considering sweetening Cairn merger offer'

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.

Vedanta Resources net loss widens in H1 FY'16; halts dividend

Vedanta Resources net loss widens in H1 FY'16; halts dividend

Vedanta Resources Wednesday reported widening of its net loss to USD 324.5 million in the first half of the current fiscal as the mining conglomerate faced challenging commodities market.

Cairn-Vedanta merger to take place in June 2016, says Group firm

Cairn-Vedanta merger to take place in June 2016, says Group firm

Mining baron Anil Agarwal-led Vedanta Resources Wednesday said the merger of its subsidiaries Vedanta Ltd and cash-rich Cairn India will happen in June quarter of 2016 as against the first quarter stated previously.

Vedanta Group has cut nearly 4,000 jobs in India since January

Vedanta Group has cut nearly 4,000 jobs in India since January

Metals and mining conglomerate Vedanta Resources, which has a sizable presence in India in oil and gas, aluminium, iron ore and zinc sectors, has slashed nearly 4,000 direct and indirect jobs in the country since January this year.

Vedanta Aluminium goes on workforce reduction, cost cuts

Mining giant Vedanta Resources has resorted to "aggressive cost reduction" and "workforce reduction" in its aluminium segment amid subdued and volatile market conditions globally.

Vedanta Resources Q1 operating profit falls 38% to $644.6 mn

Vedanta Resources on Friday reported 38 percent decline in operating profit to USD 644.6 million (about Rs 4,135 crore) for the quarter ended June 2015 as the mining conglomerate faced a volatile commodity market that impacted metal prices.

Vedanta Aluminium plans restructuring; stops ramp ups at plant

Mining conglomerate Vedanta Resources on Friday said it is planning to restructure high-cost operations in aluminium segment and has suspended ramp-up at its plant due to volatile commodity market.

Imports, falling aluminium prices may lead to job cuts: Vedanta

Hit by cheap imports and falling prices of aluminium in the global market, domestic industry will be forced to take "drastic steps" like job cuts and production cap, Vedanta Aluminium said Tuesday.

Merger to strengthen financial performance of Vedanta Resources: S&P

The proposed merger of two Vedanta Resources firms, Cairn India with Vedanta Ltd, will improve the financial performance of the group company, global agency Standard & Poor's (S&P) said.

Vedanta's Cairn India impairment credit negative: Moody's

Ratings agency Moody's Monday said metals and mining major Vedanta Resources' over Rs 19,000 crore impairment in Cairn India is credit negative as it implies a longer pay back period.

Sesa Sterlite renamed as Vedanta Ltd

Metals and mining conglomerate Sesa Sterlite today said it has changed its name to Vedanta Ltd to better align with its international identity - Vedanta Resources.

Sesa Sterlite may be renamed Vedanta Ltd

Aimed at leveraging the "Vedanta" brand, metals and mining conglomerate Vedanta Resources plans to rechristen its subsidiary Sesa Sterlite Ltd as Vedanta Ltd.

Moody's revises Vedanta's outlook to negative

Global rating agency Moody's Monday revised mining major Vedanta's credit outlook to "negative" from "stable" citing adverse impact of weak commodity prices as a major factor for the downward revision.

Hindustan Zinc Q3 net profit up 38% at Rs 2,379 crore

Hindustan Zinc Monday clocked a 38 percent rise in net profit in the October-December quarter at Rs 2,379 crore on higher zinc, lead and silver sales.