Consumers opt for 71 MT indigenous coal in Apr-Feb 21 on steps for import substitution: CIL 2021/03/02 10:43:07 Economic Times India
Coal India Ltd (CIL) on Tuesday said its drive for coal import substitution has gained tempo with consumers opting for about 71 million tonnes (MT) of indigenous coal during the April-February period of the current fiscal. CIL accounts for about 83 per cent of India's domestic dry-fuel production and aims to achieve 1 billion tonne coal production by 2023-24. "Coal India's drive for import substitution backed by a set of multiple measures facilitated coal consumers to opt for around 71 million tonnes (MT) of indigenous coal ending February of the current FY (financial year)," CIL said in a statement. Predominant among them was a robust 43.5 MT increase in e-auction bookings during April-February FY21 compared to the year-ago period, it said. The measure undertaken by CIL include allowing its coal companies to sign pacts under import substitution with 17 power plants linked with them. Additional coal was offered to non-regulated sector (NRS) against fuel supply agreements up to 100 per cent of annual contracted quantity (ACQ). "Trigger level for the power sector was increased from 75 per cent to 80 per cent.
Stocks to Watch: Reliance Home Finance, Somany Ceramics, Welspun India, Vedanta 2021/03/01 03:01:33 Livemint
Vedanta Ltd has entered into a $350 million facility agreement with its units Vedanta Holdings Mauritius Ltd, Vedanta Resources Ltd and Vedanta Holdings Jersey Ltd
Arun Kumar resigns as CFO of Vedanta 2021/02/25 02:05:31 Sify.com
Mumbai: Vedanta on Monday said that G.R. Arun Kumar has resigned from the post of Whole-Time Director and Chief Financial Officer of the company to pursue career outside of the group. In a regulatory filing, the company said that it will announce the effective date of the relieving of Kumar and the details of the successor in due course and the same shall accordingly be intimated to the stock exchanges. "The company and board takes this opportunity to appreciate the commitment and invaluable contribution made by him towards the Company's growth and its transformation journey during his tenure of close to 8 years and wishes him very best in his future endeavours," it said. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading diversified natural resource companies with business operations in India, South Africa, Namibia, and Australia. Vedanta is a major producer of oil and gas, zinc, lead, silver, copper, iron ore, steel, aluminium and power.
Vedanta CFO GR Arun Kumar steps down 2021/02/22 15:54:00 Business Today
e company will announce the effective date of relieving of Kumar and details of the successor in due course, Vedanta Ltd said in a filing to BSE
Vedanta chief financial officer G R Arun Kumar resigns 2021/02/22 12:13:00 Business Standard
Vedanta on Monday said G R Arun Kumar has resigned as chief financial officer (CFO) of the company. The company will announce the effective date of relieving of Kumar and details of the successor in due course, Vedanta Ltd said in a filing to BSE. "The board has taken note of the resignation of GR Arun Kumar from the post of Whole-Time Director & Chief Financial Officer of the company to pursue career outside of the Group," Vedanta said. Kumar has made invaluable contribution towards the company's growth and its transformation journey during his tenure of close to eight years, it added. Vedanta Ltd, a subsidiary of Vedanta Resources Ltd, is one of the world's leading diversified natural resource companies with business operations in India, South Africa, Namibia, and Australia. Vedanta is a leading producer of oil and gas, zinc, lead, silver, copper, iron ore, steel, aluminium and power.
India may give oilfield in lieu of $1.4 billion it has to pay Cairn and save overseas assets 2021/01/31 08:35:09 Economic Times India
The government may give Cairn Energy one of the surrendered oil fields such as Ratna R-Series in lieu of the USD 1.4 billion it has pay to the British firm, helping prevent seizure of foreign assets in case of default as well as get a experienced operator in struggling E&P sector, sources said. Cairn Energy gave India its biggest onland oil discovery but exited the country after it was slapped with a Rs 10,247-crore tax demand using a legislation that gave the government the powers to tax companies retrospectively. The firm has now won an international arbitration against the tax demand and the government has been ordered to return the value of shares of Cairn it had sold, dividends it had seized and tax refund it had withheld to recover the tax demand. For a government struggling to find revenue to boost a COVID-19 battered economy, options of appeal against the arbitration award are limited and it may not have the financial bandwidth for such a payout, two sources with knowledge of the development said. "One option is to give Cairn one or more of the oil and gas fields that the government now owns after they are surrendered by operators for various reasons," one of them said. "The government could give the Ratna and R-Series oil and gas field in the Arabian Sea that taken away from Essar Oil-Premier Oil consortium in 2016 because contractual terms had changed." The Barmer oilfield in Rajasthan, which was originally discovered by Cairn Energy, could be another option.
S&P revises Vedanta Resources outlook from ‘negative’ to ‘stable’ 2021/01/26 20:30:00 The Financial Express
Vedanta Resources’ failure to privatise Vedanta Ltd had raised concerns over the company's ability to sustainably service its debt beyond the next 12 months.
S&P upgrades outlook on Vedanta Resources from 'negative' to 'stable' 2021/01/26 04:28:00 Business Standard
Strong operating momentum and sizable free cash flow generation at Vedanta Ltd also improve liquidity at the holding company level
Hindustan Zinc Limited: Results for the Third Quarter and Nine Months Ended December 31, 2020 2021/01/20 21:30:00 PR Newswire
UDAIPUR, India, Jan. 20, 2021 /PRNewswire/ -- The following release was issued today by Vedanta Limited's subsidiary Hindustan Zinc Limited. Highlights for the quarter Mined metal production: 244kt Refined metal production: 235kt Saleable silver production: 183 MT Zinc COP: $946 per MT…
Vedanta promoter group looks to increase stake by 10%, move aimed at another delisting attempt? 2021/01/11 07:59:00 The Financial Express
Since the beginning of November, shares of Vedanta Limited have surged more than 80%. The move to increase shareholding comes weeks after the promoter group bought 4.98% stake from the open market.