Vedanta to sell all its steel assets by March 2024

05 Oct 2023 CW Team

Vedanta Ltd, an Indian multinational mining and metals conglomerate, is on track to finalize the sale of its steel assets by March 2024, according to the company's chairman, Anil Agarwal, in an interview with CNBC TV 18 on Tuesday.

The strategic move to divest its steel and steel raw material business was initiated in June as part of Vedanta's broader effort to refocus on its core mining operations. Notably, Vedanta entered the steel production sector in 2018 with the acquisition of ESL Steel, a transaction valued at 52.30 billion rupees.

Recently, Vedanta also announced plans to restructure its operations by creating distinct commodity-focused entities, aimed at bolstering its financial position. The parent company, Vedanta Resources, is currently grappling with a substantial debt burden amounting to $6.4 billion. This predicament prompted rating agencies to downgrade the group's credit rating, further emphasizing the need for strategic realignment and asset sales to address its financial challenges.

Infrastructure Urban

09 Jan 2026

Mount Invests Rs 250 Cr, Adds PUF & PEB Plants, 400+ Jobs

TUMKUR, Karnataka, January 8, 2025 - Mount Roofing & Structures Private Limited, one of India's fastest-growing manufacturers in PUF and a leading solutions provider across Pre-Engineered Building (PEB) and Polycarbonate sheets, simultaneously inaugurated its second fully automated continuous Sandwich Panel manufacturing line and a new PEB manufacturing plant at its integrated campus in Tumkur." The milestone expansion, part of a total investment of INR 250 crores, marks a significant advancement in the company's commitment to engineered performance, manu..

Titan Intech Strengthens UltraLED Push With Global LED Veteran

Titan Intech has announced the induction of global LED industry veteran Su Piow Ko to its Board of Directors, marking a strategic step in strengthening its UltraLED Displays roadmap and building globally competitive LED display solutions from India.The appointment aligns with Titan Intech’s ambition to position India as a hub for advanced, high-quality LED display manufacturing. With an increased focus on UltraLED Displays, the company aims to enhance technical governance, raise manufacturing standards and expand its presence across global markets.Su Piow Ko brings over three decades of inte..

Dun & Bradstreet Flags New Growth Engines in India 2026 Outlook

Dun & Bradstreet has released its India 2026: D&B’s Perspective report, projecting a stable macroeconomic environment underpinned by fresh opportunities for productivity-led and inclusive growth. The report outlines how India’s next growth phase will be driven by digitised logistics, trusted data ecosystems, clean energy and rising city vitality.According to the outlook, India’s GDP growth is expected to reach around 6.6 per cent by FY2027, supported by resilient consumer demand and sustained public investment. Manufacturing is seen entering a new phase, moving beyond scale towar..