Vedanta's Parent to Sell 2.6% Stake in Indian Miner

28 Jun 2024 CW Team

In a strategic move, Vedanta Resources PLC has announced its intention to sell approximately 2.6% of its stake in Hindustan Zinc Ltd., one of India's leading mining companies. This decision marks a notable shift in strategy for Vedanta, which has previously shown a strong commitment to its holdings in the mining sector.

The sale, which is expected to raise significant capital, comes amidst broader efforts by Vedanta to streamline its portfolio and optimise its financial position. Hindustan Zinc Ltd., a subsidiary in which Vedanta holds a majority stake, has been a cornerstone of the company's mining operations in India, particularly in zinc production.

Vedanta Resources PLC has indicated that the proceeds from the stake sale will be used to strengthen its balance sheet and support future growth initiatives across its various business verticals. This move also reflects Vedanta's ongoing efforts to align its corporate strategy with evolving market dynamics and investor expectations.

Industry analysts have noted that while the stake sale represents a tactical adjustment for Vedanta, it underscores the company's proactive approach to capital management and its commitment to enhancing shareholder value. The transaction is subject to regulatory approvals and market conditions, with Vedanta expecting to complete the sale in the near term.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..