In what could lead to increased flexibility in paying higher dividends, Hindustan Zinc’s scheme of arrangement with shareholders to transfer ₹10,383 crore of general reserve to retained earnings has been approved by the National Company Law Tribunal. This will help Vedanta upstream dividend from its subsidiary Hindustan Zinc to repay debt at the holding company … Read more
Vedanta Limited, the metals to oil conglomerate, plans to use the proceeds of QIP for repaying or prepaying lenders, including Oaktree, for the company and its subsidiary The Zinc Ventures Limited (THLZV). The funds raised will help reduce overall indebtedness, cut debt servicing costs, and improve the debt-to-equity ratio. It will enable better utilisation of … Read more
Domestic markets sustained their upward trajectory into the new week as indices reached fresh highs on Monday. In today’s trade, shares of Bajaj Auto, SpiceJet, Jio Financial, HUL, Vedanta, ZEE among others will be in focus due to various news developments and first quarter results. Bajaj Auto, L&T Finance, Just Dial Shares of Bajaj Auto, … Read more
Bulls regained control from the bears on Wednesday pushing the Nifty index above 24,300. In today’s trade, shares of Bajaj Finance, Vedanta, L&T Finance, Hindustan Zinc, Star Health among others will be in focus due to various news developments and first quarter updates. Bajaj FinanceBajaj Finance reported a 10% year-on-year growth in new loans booked … Read more
Metal major Vedanta reported a 36% year-on-year jump in alumina production at Lanjigarh refinery at 539 kt driven by new capacity, the company said today in a filing to the exchanges. In Q1FY24, the company had produced 395 kt. It was up by 11% on the quarter-on-quarter basis versus 484 kt in the March quarter. … Read more
The Indian mining company controlled by billionaire Anil Agarwal is considering tapping bond markets for at least $500 million in a debut overseas issuance, according to two people familiar with the proposal. Vedanta Ltd. is discussing the plan with lenders and seeking legal opinions about the potential sale, according to the people, who asked not … Read more
Domestic markets experienced volatility on Wednesday and closed nearly unchanged amidst mixed signals. In today’s trade, shares of Vedanta, PNB Housing, Best Agrolife, Mas Financial, Brigade Enterprises among others will be in focus due to various news developments. Vedanta Vedanta Ltd is planning to spend $5 billion over the next decade as it looks to … Read more
Domestic markets began the week with modest gains, continuing the prevailing positive trend. In today’s trade, shares of Paytm, Indus Towers, Vedanta, Cipla, Gland Pharma among others will be in focus due to various news developments. Paytm Goldman Sachs sold 44.20 lakh shares of One 97 Communications on Tuesday via block deal for Rs 183.44 … Read more
Brokerage firms such as JPMorgan maintained an overweight rating on Zomato, while Nomura maintained a buy rating on M&M, CLSA has a buy rating on Vedanta and Jefferies recommended a buy on Infosys.We have collated a list of recommendations from top brokerage firms from ETNow and other sources:JPMorgan on Zomato: Overweight | Target: Rs 208Global … Read more
Mumbai: Overseas debt purchases via the voluntary long-term investment route have accelerated sharply, with foreign holdings so far in May marking their highest monthly level in two years and this year’s commitments crossing the billion-dollar threshold in the latest demonstration of India’s emergence as a global debt investment option. FPI investment in the debt-voluntary retention … Read more
