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

05 Nov 2025

TBO Tek Q2 Profit Climbs 12%, Revenue Surges 26% YoY

TBO Tek Limited one of the world’s largest travel distribution platforms, reported a solid performance for Q2 FY26 with a 26 per cent year-on-year increase in revenue to Rs 5.68 billion, reflecting broad-based growth and improving profitability.The company recorded a Gross Transaction Value (GTV) of Rs 8,901 crore, up 12 per cent YoY, driven by strong performance across Europe, MEA, and APAC regions. Adjusted EBITDA before acquisition-related costs stood at Rs 1.04 billion, up 16 per cent YoY, translating into an 18.32 per cent margin compared to 16.56 per cent in Q1 FY26. Profit after tax r..

Northern Graphite, Rain Carbon Secure R&D Grant for Greener Battery Materials

Northern Graphite Corporation and Rain Carbon Canada Inc, a subsidiary of Rain Carbon Inc, have jointly received up to C$860,000 (€530,000) in funding under the Canada–Germany Collaborative Industrial Research and Development Programme to develop sustainable battery anode materials.The two-year, C$2.2 million project aims to transform natural graphite processing by-products into high-performance, battery-grade anode material (BAM). Supported by the National Research Council of Canada Industrial Research Assistance Programme (NRC IRAP) and Germany’s Federal Ministry for Economic Affairs a..

Antony Waste Q2 Revenue Jumps 16%; Subsidiary Wins Rs 3,200 Cr WtE Projects

Antony Waste Handling Cell Limited (AWHCL), a leading player in India’s municipal solid waste management sector, announced a 16 per cent year-on-year increase in total operating revenue to Rs 2.33 billion for Q2 FY26. The growth was driven by higher waste volumes, escalated contracts, and strong operational execution.EBITDA rose 18 per cent to Rs 570 million, with margins steady at 21.6 per cent, while profit after tax stood at Rs 173 million, up 13 per cent YoY. Revenue from Municipal Solid Waste Collection and Transportation (MSW C&T) reached Rs 1.605 billion, and MSW Processing re..