The dollar bondholders were jittery about timely payment because 100% of the promoter's equity is pledged with lenders, and delay in arranging refinance prompted Moody's to downgrade the 'corporate family rating' by one notch last October. Within days of the downgrade, Vedanta announced it would discontinue rating engagement with Moody's.
Vedanta Holdco eyes up to $2 billion in bridge loans
Twin Star Holdings, a unit of the London-based Vedanta Resources, is talking to multiple global financiers such as JP Morgan, Barclays, Deutsche Bank and Standard Chartered for the bridge loans, the sources cited above said. These financiers are relationship banks for the Anil Agarwal-led conglomerate.
Divestments? Why there’s no point being myopic this Budget
A key positive would be a much-needed increase in FDI limits for PSU banks from the current 20%, which will help set the stage for potentially mobilising a large divestment pool, while also being aligned with intended reforms in the sector.
Ahead of Market: 10 things that will decide D-St action on Friday
Domestic indices snapped their previous gains amid negative sentiments from their global counterparts. Weak US consumer data and hawkish comments from the Fed's policymakers on Wednesday hammered investor risk appetite. Lingering fears of recession dragged global bourses down, leaving the market volatile,” said Vinod Nair, Head of Research at Geojit Financial Services
Hindustan Zinc Q3 Results: PAT falls 20% to Rs 2,156 crore, interim dividend of Rs 13 approved
Hindustan Zinc delivered best-ever 9 months refined metal on the back of the highest ever mined metal. In FY22, we reached the one million tonne mined metal landmark, and this year with the current run-rate, we are confident of achieving the one million tonne refined metal mark and are fully geared to deliver another stellar annual performance," said Arun Misra, CEO, Hindustan Zinc
Hindustan Zinc rises over 4% ahead of earnings, dividend announcement on Thursday
The company's mined metal output during the September quarter was at 2,55,000 tonne, up 2.8% YoY on the back of better grades and improved mill recoveries. Hindustan Zinc's integrated metal production in the second quarter of 2022 was 2,46,000 tonne, up 17.5% year-on-year.
"Global news flows would continue to dominate the outlook for the Indian metals sector. A faster reopening in China and stimulus has provided a new lease of life for the sector, although on ground demand improvement is still elusive. Post CNY demand would be key for further rerating," said brokerage firm CLSA.
Govt likely to set aggressive divestment target in Budget 2023
While some voices state that it is time for the government to moderate its FY24 target given that it has missed its targets the last 3 years, it is likely the Govt would continue to set an aggressive target given the background of growth push with government spending.
D-Street Buzz: CLSA tags Hindalco with 'buy', Tata Steel with 'outperform' as metals shine
According to global research and broking firm CLSA, the steel outlook improved while global news flows would continue to dominate outlook for the Indian metals sector. A faster reopening in China and stimulus has provided a new lease of life for the sector, although on ground demand improvement is still elusive, it said.
Sensex down 3,000 pts from peak, but these 30 stocks filled investors’ piggy banks!
Public sector banks remained the darling of the Street as they gained by a majority. UCO Bank, Central Bank of India, Indian Overseas Bank, Bank of Maharashtra, Bank of India, Bank of Baroda, Punjab National Bank, Indian Bank, and IDBI Bank joined the gainers list.
Metal stocks rally up to 6% last week. What's cooking?
While the recent price hikes in the regional market and expectations of better demand in Europe appear encouraging, we would wait for more clarity on stimulus measures in China and their impact on the overall steel demand, it said.
Hot Stocks | Zydus Lifesciences, PFC, Hindustan Zinc may fetch double-digit returns in short term. Here's why
Hindustan Zinc, now has started to get into higher high, higher low formation post October 2021. The stock has shown a bounce to the upside after retesting the Triangle pattern, the breakout was witnessed on November 14, 2022. This confirms the beginning of potential uptrend.
ETMarkets Smart Talk: Infra, railways, defense among top 5 themes to shine ahead of Budget 2023: Raghvendra Nath
The year 2022 has been both challenging and rewarding for investors. Throughout the year, and especially in December, investors have faced excessive volatility, with the market witnessing significant spikes and dips on the back of a number of positive and negative cues.
We hope to receive a good number of EOIs for IDBI Bank: Tuhin Kanta Pandey
Many times there is a demand for the stock as well, so you cannot say that the stock will not be available. But as I said that we will always keep in mind the interest of minority shareholders and will advise all the departments as well as the CPSEs to keep on adding value to their company, look at their performance and disinvestment strategy.
ETMarkets Fund Manager Talk: This money manager is positive on 3Cs- Credit, Consumer and Capex
The Indian economy and markets have shown remarkable resilience on the back of strong domestic demand. High-frequency indicators like GST collections, energy consumption, toll, and tax collections continue to indicate robust growth in the underlying economy.
PSBs continue to shine, metal counters may post mild gains: Manoj Dalmia
Nifty Bank is at its all time high, although there is some weakness in it, the index can retrace back to 41,400 levels which might be crucial, any strong closing below 41,300 this can indicate a breakout failure and there can be selling. Range of 42,000-42,500 can be expected for the upcoming expiry.
The companys key customers include BHEL, Coal India, DMRC, EIL, Hindustan Zinc, L&T, NALCO, NTPC, ABB etc. Further, the company caters to marquee customers globally, ranging from the US, UK, UAE, Australia, Qatar, Germany, Belgium, Mauritius, Ethiopia and Kuwait.
Swastik Pipe SME IPO to open on Sept 29, price band fixed at Rs 97-100
Swastik Pipes is promoted by Sandeep Bansal, Anupama Bansal, Shashwat Bansal and Geeta Devi Aggarwal. The company has been a leading manufacturer and exporter of T.T. Swastik Band high-quality mild steel/carbon steel ERW black and galvanized pipes/tubes since 1973.
The company had recently filed a draft red herring prospectus (DRHP) with NSE Emerge.The company has been a leading manufacturer and exporter of TT Swastik Band high-quality Mild Steel/Carbon Steel ERW Black and Galvanized Pipes/Tubes since 1973. It has two plants in Haryana and Uttar Pradesh, with production capacity of 20,000 MT per month
Hindustan Zinc to invest Rs 350 crore for 26% stake in Serentica Renewables
Hindustan Zinc said the company intends to secure RE under a group captive power set-up and that Serentica Renewables India 4 Private Limited is created to deliver power over a long-term period to the company.
Hindustan zinc OFS likely by Nov; Dipam working out details
A delay in the strategic sale of Pawan Hans, Shipping Corporation of India, BEML and IDBI Bank, and less-than-expected public offer of Life Insurance Corporation of India had forced the government to fix the focus on HZL. The strategic sale of Bharat Petroleum Corp has been aborted because of a lack of response.