All posts tagged: Vedanta Limited

CRISIL upgrades Vedanta Group companies, lifts flagship firm’s rating to highest level in over a decade

CRISIL upgrades Vedanta Group companies, lifts flagship firm’s rating to highest level in over a decade

Published by Parlour News

Vedanta Group has received a major credit rating boost from CRISIL Ratings, with its flagship company, Vedanta Limited, securing its highest long-term rating in more than a decade. The ratings agency also upgraded key group entities across aluminium, oil and gas, and power businesses, while removing Vedanta Limited, Vedanta Aluminium and Vedanta Oil & Gas from “Rating Watch with Developing Implications”. CRISIL upgraded the long-term rating of Vedanta Limited to AA+/Stable, marking the company’s strongest credit profile since 2014. (HT Archive) The latest action reflects CRISIL’s assessment of the group’s stronger financial position following the demerged structure, lower leverage and sustained earnings across its core businesses. Vedanta Limited gets highest rating since 2014 CRISIL upgraded the long-term rating of Vedanta Limited to AA+/Stable, marking the company’s strongest credit profile since 2014. The agency said the company continues to benefit from its scale and diversified operations, supported by its 61 per cent stake in Hindustan Zinc and businesses spanning copper, nickel, ferroalloys and critical minerals. Highlighting the company’s balance sheet, CRISIL said, “The company’s financial profile …

Enforcement Directorate (ED) searches Vedanta-linked premises in Mumbai and Delhi in FEMA probe

Enforcement Directorate (ED) searches Vedanta-linked premises in Mumbai and Delhi in FEMA probe

Published by Webster

The Enforcement Directorate (ED) has conducted searches at two premises linked to the Vedanta Group in Delhi and Mumbai as part of an investigation under the Foreign Exchange Management Act (FEMA), senior agency officials said on Tuesday.  According to officials, the searches, which have concluded, are related to alleged brand fee payments made by group entities to their parent company, reported IANS.  Disclaimer: We do not own any of the content, ideas, images, or text presented here. All rights belong to their respective owners. For more information and to view the original source, please visit the following link: Source link

Vedanta to invest $20 billion in 4 years in India: Anil Agarwal | Business News

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Banking on the country’s growth potential, Vedanta Group is planning to invest $20 billion in India in the next four years, said chairman Anil Agarwal. The investments will happen mostly in the technology, electronics, semiconductors and glass segments, he added. “Investments in electronics, technology and glass are important to create a lot of industries and jobs. Semiconductors and glass – used in making smartphones and laptops screens – are very essential from a future perspective, and for both we have factories in Taiwan and Korea,” Agarwal said on the sidelines of an event in Mumbai. For its semiconductor business, Vedanta Group has bought land in Gujarat, while it is making progress on the glass business. “We are already making glass, but now we have to make that in India,” he said, adding the group is keen on partnerships. He said that some of the developed nations have exploited natural resources to become rich. He rued that there are concerns on the environmental impact of mining in India. “We cannot depend on imports; we have the …

Electoral bonds data: Mining, steel majors spent Rs 825 crore, among them firms awaiting green nod | India News

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The giants of India’s mining and steel conglomerates – Vedanta Limited, Rungta Sons Private Limited, Jindal Steel and Power (JSPL), Essel Mining and Industries Limited (EMIL) and Dempo — put together bought Rs 825 crore worth of electoral bonds, according to data made public by the Election Commission of India. Of these companies, Rungta Sons Private Limited spent Rs 100 crore, Vedanta Ltd Rs 376 crore, EMIL Rs 224.5 crore, JSPL Rs 123 crore and Dempo Rs 1.5 crore. Of the Rs 376 crore that Vedanta Ltd donated, a tranche of bonds worth Rs 98 crore was  bought in the January 2022 window. This was just before the elections in Uttar Pradesh, Uttarakhand, Punjab, Manipur and Goa. The group’s Sesa Goa company is one of the biggest iron ore mining companies in the country and it also has significant mining interests in Odisha. Vedanta has interests in iron ore, oil and gas, copper, aluminium and steel JSPL’s mining, power and steel interests are largely concentrated in Chhattisgarh, Odisha and Jharkhand. The company made all their …