Vedanta Demerger Approval Expected

Vedanta Q4 Net Profit Declines

Vedanta Limited, a leading global diversified natural resources company, reported a 27% decline in net profit for the fourth quarter of the fiscal year. The dip in profit was primarily attributed to a one-time impairment charge.

Despite facing challenges, Vedanta remains a prominent player in the natural resources sector, with a diversified portfolio encompassing metals, oil and gas, and mining operations. The company has consistently focused on operational excellence and sustainability initiatives to drive long-term value creation.

In the fourth quarter, Vedanta witnessed a de..

Vedanta Resources explores fundraising for Zambia copper mine

Vedanta Resources (VRL), owned by Anil Agarwal, has engaged Standard Chartered Bank to raise funds for its Konkola copper mine assets. According to VRL, they are currently in discussions with various potential partners for both short-term funds and long-term equity financing for the Zambian project.

A Vedanta official stated that their commitment lies in optimizing capital allocation and driving expansion, which is a fundamental aspect of their strategy for the mines. They believe this approach will enhance value creation and operationalise the Konkola Copper Mines (KCM).

A s..

Vedanta Aluminium organises "AutoEdge"conclave

Vedanta Aluminium, India?s largest producer of aluminium, recently organised AutoEdge 2024, an industry conclave for the automotive sector, in New Delhi. Aluminium, responsible for enabling several forms of modern transportation, has also established itself as a critical raw material for automotive manufacturing. The event featured expert-led sessions on the future roadmap of the sector and the role of aluminium in its transformation and was an opportunity to identify new areas of collaboration. Top automakers and essential component manufacturers from the industry participated in the event. <..

DHFL scam; CBI arrests Dheeraj Wadhawan in Rs 340 billion fraud case

The Central Bureau of Investigation (CBI) has apprehended former DHFL Director Dheeraj Wadhawan over his purported involvement in a scheme to defraud a consortium of 17 lending banks amounting to Rs 340 billion, according to officials on May 16. Wadhawan was taken into custody from Mumbai during the night of May 13 and subsequently presented before a special court, which remanded him into judicial custody. He and his brother Kapil were previously detained in connection with the case on July 19, 2022.

The agency had submitted a charge sheet against 75 entities, including Kapil and ..

Government to entities accountable for unsolicited calls

The government has proposed holding accountable banks, insurance firms, real estate developers, brokers, and other entities, including agencies engaging in 'pesky calls' on their behalf, for contacting individuals through unregistered telephone numbers regulated by the Telecom Regulatory Authority of India (Trai). This represents the latest effort by the government and the telecom regulator to tackle the persistent issue that they have struggled to control for over two decades, despite previous initiatives such as the now-defunct 'do not disturb' service. Although Trai has discussed measures t..