Vedanta's aluminium output rises 4 pc in Q4
The company's alumina production at Lanjigarh refinery unit in Odisha increased 18 per cent to 4,48,000 tonne on the back of better operational performance, the company said.
The company's alumina production at Lanjigarh refinery unit in Odisha increased 18 per cent to 4,48,000 tonne on the back of better operational performance, the company said.
The projects are still under development and the transfer into the Sterlite Grid 32 Ltd. joint venture has been agreed, the people said, asking not to be identified because the matter isn’t public.
"Vedanta Ltd will appeal the Sebi order before the appropriate forum," the firm said in a statement.
On September 29, the mining conglomerate announced plans to demerge five of its key businesses, including aluminium, oil and gas, and steel, into separate listed entities.
In an exchange filing, Vedanta said it received a letter from NSE on March 6, 2024, issued by Securities and Exchange Board of India (SEBI) vide which an administrative warning has been issued to the company.
Last week on Thursday, the Supreme Court dismissed the company's plea for re-opening its copper smelting plant in Tamil Nadu's Thoothukudi, closed since May 2018 over pollution concerns, while underlining the importance of the health and welfare of the local residents.
Adani Power, JSW Group and Essar Power are among the companies that have told India's power ministry they would be keen to expand old plants or develop stalled projects facing financial stress, according to the sources and a government presentation seen by Reuters.
The company is expected to clock nearly USD 5 billion of EBITDA in FY24 (April 2023 to March 2024); adjusting for one-time gains of the Cairn arbitration, the operational EBITDA for FY24 will be USD 4.4 billion.
In an interview to PTI, John Slaven, CEO of aluminium business of Vedanta, said, "We are working very actively in securing the successful demerger of the aluminium business."
The company is pushing ahead with the investment undeterred by concerns around debt levels at parent Vedanta Resources.
Vedanta had earlier said that it will acquire bankrupt thermal power company Meenakshi Energy for Rs 1,440 crore through an insolvency process.