Blackrock, ADIA, domestic funds hike stake in Vedanta
The recent rally in Vedanta share price on the back of demerger plans, deleveraging and soaring metal prices has led to a bullish call by domestic and international funds.
The recent rally in Vedanta share price on the back of demerger plans, deleveraging and soaring metal prices has led to a bullish call by domestic and international funds.
Vedanta is expecting a group EBITDA (earnings before interest, taxes, depreciation, and amortization) of USD 5 billion on revenue of USD 17.5 billion in the current fiscal ending March 31.
The port-to-power conglomerate said there were “no material refinancing risk and near-term liquidity requirement,” adding “near term debt maturities have been fully funded.”
Ashok Leyland in the first nine months of the financial year ending December 31, 2023 reported its highest turnover of Rs 27,100 crore, highest sales volume at 1,38,416 units, EBITDA of Rs 3,014 crore and Profit After Tax of Rs 1,718 crore.
The total income surged to Rs 1,018.30 crore in the third quarter from Rs 842.02 crore in the year-ago quarter. Its expenses were at Rs 711.25 crore in the third quarter against Rs 734.41 crore in the October-December quarter of last fiscal.
The company's total income in the third quarter of the current fiscal also rose to Rs 1,059.32 crore from Rs 778.22 crore in the year-ago quarter.
The company's total income increased to Rs 887.75 crore, up 13 per cent over Rs 783.08 crore in the same quarter of the previous financial year.
"The company is working towards opening up new frontiers, one of them being shale gas exploration. This will help the firm in consolidating its position as one of the largest unconventional hydrocarbon player in the region", the spokesperson said.
At the same time, production at the Sakhalin-1 project of ONGC Videsh Ltd (OVL) should also recover to fiscal 2022 levels, after a period of disruptions because of geopolitical issues.
These papers, linked to a "restricted group" of 500MW of renewable assets and issued in 2015, are among the first high-yield bond instruments from India.
The company said it had always intended to close the gas business in favour of sustainable alternatives, but "the extraordinary and volatile market situation in the current unprecedented context of gas prices has accelerated the decision".