Vedanta is said to scrap plans to sell mega Indian copper smelter
After scrapping the seven-month-old process to offload the 400,000 tons-a-year Sterlite Copper plant, the company will now work with the local population to restart the factory that was shut on environmental concerns, the people said, asking not to be named as the information is not public.
Big Movers on D-St: What should investors do with Vedanta, Aegis Logistics and Gland Pharma?
The counter is in a classical uptrend, as it has higher highs & higher lows. On the daily chart, it also saw the breakout of a long consolidation formation with declining volume.The structure of the counter is very bullish, as it trades above all important moving averages. It has broken a neckline at around Rs 360–363 levels on the daily chart.
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.
Chart Check: Metal stocks on a roll! Range breakout on weekly chart makes Vedanta a top buy
The Relative Strength Index (RSI) is at 60.7. RSI below 30 is considered oversold and above 70 is considered overbought, Trendlyne data showed. MACD is above its center and signal line, this is a bullish indicator.
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
Vedanta to acquire Meenakshi Energy for Rs 1,440 crore
According to an exchange filing, Rs 312 crore is to be paid upfront while the balance of Rs 1,128 crore will be paid in the form of secured, unlisted non-convertible debentures issued by Meenakshi Energy.
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.