Vedanta Limited, a prominent player in the mining sector, announced audited consolidated results for the fourth quarter and the fiscal year ending March 31, 2024, showcasing robust growth and strategic accomplishments across its diverse portfolio. The comany reported a consolidated revenue of ₹141,793 crores for the fiscal year, marking its second-highest annual revenue, a 3% […]
Cairn Oil & Gas, a subsidiary of Vedanta, has submitted the field development plan (FDP) for the Jaya field in Gujarat’s Bharuch district. The Jaya gas and condensate discovery, part of the block CB-ONHP-2017/2, is a landmark achievement under India’s Open Acreage Licensing Policy (OALP). The block, one of 41 awarded to Cairn Oil & […]
For the first quarter ending 30th June 2023 (1QFY24), Vedanta Limited reported unaudited consolidated financial results with quarterly consolidated revenue of ₹33,342 crore, a decrease from ₹38,251 crore in 1QFY23. This change was primarily attributed to a significant drop in output commodity prices, although somewhat offset by favourable movements in exchange rates. The company’s consolidated […]
In a setback to Prime Minister Narendra Modi’s semiconductor ambitions for India, Foxconn has announced its withdrawal from a $19.5 billion joint venture with Indian conglomerate Vedanta, reported Reuters, citing a statement from the Taiwanese company on Monday. The world’s largest contract electronics maker had signed an agreement with Vedanta last year to establish semiconductor […]
Vedanta Limited, a prominent natural resources and technology conglomerate in India, has declared its foray into the semiconductor and display glass manufacturing sectors. This addition to Vedanta’s diverse portfolio could significantly boost India’s domestic market, which is expected to see the semiconductor market jump from $24 billion in 2022 to $80 billion by 2026. Similarly, […]
Vedanta Aluminium, an Indian producer of aluminum, has brought in robotic process automation (RPA) within its commercial department, making it the first company in the mining and metals industry in India to implement hyperautomation of the entire commercial process. With numerous large-scale plant operations, an extensive customer base and a vast suppliers’ network, Vedanta Aluminium’s […]
Vedanta Aluminium has secured $250 million through sustainability linked loans (SLL) from major international banks towards funding its capex initiatives and lowering its carbon footprint. The Indian aluminium producer claimed that the loans were issued on the basis of certain performance parameters for safety and decarbonization and that they will drive its growth journey. This […]
India’s Hindustan Zinc has deployed a battery electric vehicle (BEV) for its underground mining operations at its Sindesar Khurd mine, becoming the industry first to lead the green race in the country. The deployment of Normet Agitator SmartDrive EV forms part of Hindustan Zinc’s strategy to gradually shift to battery-powered service equipment and utility vehicles […]
Larsen & Toubro (L&T) said that its hydrocarbon business — L&T Energy Hydrocarbon (LTEH) has won two orders for its asset management and AdVENT business verticals, worth in the range of INR 1,000-2,500 crores. According to the Indian conglomerate, its new business unit for operations and maintenance (O&M) and related services — Larsen & Toubro […]
Vedanta has signed two memoranda of understanding (MoUs) with the Gujarat government to set up a semiconductor manufacturing project with a total investment of Rs 1,54,000 crore ($19.3 billion). To be set up in the Ahmedabad district of the state, the semiconductors and display fab units that are part of the chip manufacturing project in […]