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The Latest Breaking News from Vedanta

Vedanta says confident of meeting debt repayment liabilities

NEW DELHI: Billionaire Anil Agarwal's Vedanta Resources Ltd on Tuesday said it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position.

The Times of India

Adani Isn’t the Only Indian Tycoon in Trouble

Bondholders in Vedanta Resources, a highly leveraged mining group, are jittery about getting repaid next year.

Bloomberg

Vedanta-Foxconn selects Dholera SIR for first semiconductor facility in India

NEW DELHI: In a first, Vedanta and electronics manufacturing firm Foxconn on Monday unveiled their plan to set up a semiconductor and display manufacturing facility in Ahmedabad, news agency PTI reported quoting sources.

The Times of India

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Indian government opposes Vedanta move to sell zinc assets

NEW DELHI: In a setback to billionaire Anil Agarwal's mining group, the government has opposed Vedanta Ltd's proposal to sell its international zinc business to Hindustan Zinc Ltd for $2.98 billion over concerns of valuation.

The Times of India

Vedanta Group inks pacts with 30 Japanese tech firms for semiconductor plant

AHMEDABAD: Vedanta Group signed a memorandum of understanding with some 30 Japanese tech firms, the company announced on Tuesday.

The Times of India

Indian tycoon Adani's mega port hangs in the balance as a fishing community protests

On the main road to billionaire Gautam Adani's planned Vizhinjam mega port on the southern tip of India, a shelter built by the coastal region's Christian fishing community blocks the entrance, preventing further construction.

Reuters

Vedanta announces third dividend of Rs 17.50 per share

NEW DELHI: Mining giant Vedanta on Monday announced the third interim dividend of Rs 17.50 per equity share for the current financial year, amounting to Rs 6,505 crore.

The Times of India

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Maharashtra’s loss is Gujarat’s gain

The loss of the Vedanta-Foxconn project has caused an uproar in Maharashtra

The Hindu

MVA is solely responsible for losing out Vedanta-Foxconn, says Minister Uday Samant

He says there are plans to meet Union Ministers to discuss investments in Maharashtra

The Hindu

Ajit Pawar denies allegations that Vedanta decided to move project to Gujarat during MVA rule

The Eknath Shinde-led Maharashtra government and the opposition have been holding each other responsible for the multi-billion project going to neighbouring Gujarat.

The Hindu

Maharashtra was set to sign Vedanta MoU

In the letter dated July 26, 2022 to Vedanta chairman Anil Agarwal, Chief Minister Eknath Shinde stated that his government remained committed to supporting Vedanta’s investment plans

The Hindu

Foxconn row: Who was responsible for nixing Nanar refinery, Devendra Fadnavis asks opposition

MUMBAI: Maharashtra deputy chief minister Devendra Fadnavis has accused the opposition of making false claims over the Vedanta-Foxconn semiconductor plant going to Gujarat, and also questioned it over the Nanar refinery project.

The Times of India

Foxconn strikes $19.4 bn deal to make chips in India

Mumbai (AFP) - Taiwanese electronics giant Foxconn will invest $19.4 billion to make semiconductors in India with local conglomerate Vedanta, backed by New Delhi's push to boost tech self-reliance after a global chip shortage.

AFP

Top Financial Stories Tuesday, September 13: Elon Musk's Takeover Set To Get Twitter Shareholder Approval, Intel Slashes Mobileye IPO Valuation, Goldman Sachs To Layoff About 500 Jobs And More…

Wall Street Journal

Benzinga

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The Hindu

Vedanta, Foxconn sign MoU with Gujarat government to set up semiconductor unit in state

Vedanta and Foxconn to invest ₹1,54,000 crore to set up the facility in Gujarat

The Times of India

Reliance Industries shares fall 3%; ONGC, Vedanta too decline

NEW DELHI: Shares of Reliance Industries fell nearly 3 per cent on Thursday after the government raised the tax on export of diesel and jet fuel (ATF) and hiked the windfall profit levy on domestically-produced crude oil.

The News Lens

Will Foxconn Pivot Away From China?

Aggressive local competition and rising geopolitical risk make the contract electronics manufacturing giant’s China dependency more precarious than ever.

Newslaundry

Government to approve cutting down of forests without consent from tribals and forest dwellers

The Indian government has devised new rules to let private developers cut down forests without first ensuring the consent of the forest dwellers.

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The Hindu

Tamil Nadu makes EV pitch to Foxconn

Government officials meet chairman Young Liu and offer help in expansion

The Hindu

Copper, all in a tangle

An advertisement in the papers last week had the industry in Tamil Nadu sit up and take notice. The contentious Sterlite Copper plant has put out a notice of its intention to sell its plant in Thoothukudi. Pollution issues not withstanding, industrialists said that if this announcement was true, there would…

The Times of India

Vedanta puts on sale its Sterlite copper smelting plant in Tamil Nadu

NEW DELHI: Vedanta has put on sale its Sterlite copper smelting plant at Thoothukudi in Tamil Nadu after facing a lot of hurdles in reopening the unit and has invited an expression for interest from the potential buyers.

The Times of India

Vedanta shares plunge over 12% after company puts Tuticorin copper smelter plant on sale

NEW DELHI: Shares of Vedanta plunged over 12 per cent on Monday after the company offered to sell a copper smelter complex in Tamil Nadu that was closed 4 years ago.

The Hindu

Vedanta Group puts Sterlite Copper up for sale

The announcement has come as a surprise because in the last few years officials from Sterlite Copper have been saying closing the plant, selling the plant or moving away from Tamil Nadu was not on cards.

The Times of India

What is the MSCI India Index and why it matters

NEW DELHI: Global indices service provider MSCI had earlier this month announced a couple of inclusion and exclusion, along with changes in weightages of a few Indian stocks, which has influenced flows in these stocks. While it has added four stocks to its MSCI India index, namely Tata Elxsi, Adani…

The Times of India

Cabinet clears sale of govt's 29.58% stake in Hindustan Zinc valued at Rs 38,000 crore

NEW DELHI: The Union Cabinet on Wednesday approved the sale of the government's residual 29.58 per cent stake in Hindustan Zinc, which at current prices would fetch over Rs 38,000 crore to the exchequer, sources said.

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