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Vedanta Ltd (VDAN.NS)

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Latest Key Developments (Source: Significant Developments)

Vedanta Says Argued In Court For Urgent Interim Interdict Against ZCCM
Wednesday, 17 Jul 2019 09:53am EDT 

July 17 (Reuters) - Vedanta Resources::YESTERDAY ARGUED IN COURT FOR URGENT INTERIM INTERDICT AGAINST MINORITY KCM SHAREHOLDER ZCCM, KCM PROVISIONAL LIQUIDATOR.IT IS CO'S VIEW THAT ZCCM BREACHED KCM SHAREHOLDRES' AGREEMENT BY PURSUING WIND-UP PROCEEDINGS AGAINST KCM IN ZAMBIA.AFTER HEARING ARGUMENTS, COURT RESERVED JUDGMENT ON MATTER TO JULY 23.  Full Article

Vedanta Gets Shareholders' Nod To Appoint Srinivasan Venkatakrishnan As CEO From March 2019 To August 31, 2021
Friday, 12 Jul 2019 04:59am EDT 

July 12 (Reuters) - Vedanta Ltd ::GETS SHAREHOLDERS' NOD TO APPOINT SRINIVASAN VENKATAKRISHNAN AS CEO FROM MARCH 01, 2019 TO AUGUST 31, 2021.  Full Article

Vedanta Says Zambian Court Halts Konkola Copper Mines Liquidator From Assets Disposal
Thursday, 27 Jun 2019 08:54am EDT 

June 27 (Reuters) - Vedanta::VEDANTA UPDATES ON LEGAL PROCESSES.COURT GRANTED ORDER TO STAY POWERS OF KCM LIQUIDATOR TO DISPOSE OF KCM ASSETS THROUGH PUBLIC TENDER, OR TO MAKE ARRANGEMENTS WITH CREDITORS.  Full Article

Vedanta Says "Disappointed" Zambian Court Rejects Co's Bid To Join Liquidation Case
Thursday, 20 Jun 2019 10:06am EDT 

June 20 (Reuters) - Vedanta Ltd ::KCM UPDATE ON LEGAL PROCESS.VEDANTA, ON KCM LEGAL PROCESS, SAYS WAS GRANTED LEAVE TO APPEAL AND NO ORDER AS TO COSTS WAS MADE."DISAPPOINTED" JUSTICE BANDA-BOBO REJECTED APPLICATION TO JOIN TO CONFIRMATION HEARING FOR APPOINTMENT OF PROVISIONAL LIQUIDATOR FOR KCM."TO CHALLENGE ANY SALE OF THE BUSINESS".VEDANTA SAYS INTENDS TO TAKE URGENT ALTERNATIVE STEPS AGAINST ZCCM’S WINDING-UP PETITION.BELIEVES APPOINTMENT OF THE PROVISIONAL LIQUIDATOR, HAS PLACED KCM UNDER "ADDITIONAL FINANCIAL PRESSURE".VEDANTA SAYS KCM IS NOT FOR SALE AND VEDANTA WILL CHALLENGE ANY ATTEMPT TO SELL THE BUSINESS WITHOUT ITS CONSENT..VEDANTA SAYS RE-EMPHASISES THAT IT REMAINS OPEN TO ENGAGEMENT WITH GOVERNMENT TO RESOLVE KCM MATTER IN A MUTUALLY SATISFACTORY MANNER.  Full Article

Vedanta Invited Representatives Of ZCCM To Meet, Try Settling Dispute Amicably
Friday, 31 May 2019 05:07am EDT 

May 31 (Reuters) - Vedanta Ltd ::VEDANTA - UPDATE ON KCM SITUATION.VEDANTA - DURING THIS TIME IN ZAMBIA, VEDANTA EXECUTIVES HAVE NOT BEEN ABLE TO ENGAGE WITH KCM MANAGEMENT AND HAVE NOT BEEN ABLE TO VISIT OPERATION.VEDANTA - RAISED WITH MINISTER "NEED TO ENSURE SAFETY AND ENVIRONMENTAL PROTOCOLS" FOLLOWED AT KCM, ESPECIALLY ON TAILINGS DAM MANAGEMENT, DEWATERING.VEDANTA - DURING MEETINGS WITH GOVERNMENT. REPRESENTATIVES OF ZAMBIA, CO REITERATED COMMITMENT TO DEVELOPMENT & SUSTAINABILITY OF KONKOLA COPPER MINES.VEDANTA - HAS INVITED REPRESENTATIVES OF ZCCM INVESTMENTS HOLDINGS TO MEET WITH REPRESENTATIVES OF VEDANTA TO ATTEMPT TO SETTLE DISPUTE AMICABLY.VEDANTA - MATTER UNDER DISPUTE INCLUDES BREACH BY ZCCM OF KCM SHAREHOLDERS’ AGREEMENT IN FILING.VEDANTA - MATTER UNDER DISPUTE INCLUDES BREACH BY ZCCM IN PERSEVERING WITH PETITION TO WIND UP KCM.VEDANTA - MATTER UNDER DISPUTE INCLUDES FAILURE BY ZCCM TO SEEK TO HAVE THE DISPUTE RESOLVED BY ARBITRATION.  Full Article

Vedanta Resources Says KCM Seeking To Meet With Govt To Discuss Future Of KCM
Tuesday, 21 May 2019 09:23am EDT 

May 21 (Reuters) - VEDANTA RESOURCES::CO, KONKOLA COPPER MINES AWARE OF MEDIA REPORTS THAT ZAMBIAN STATE OWNED CO ZCCM-IH HAS OBTAINED AN ORDER AGAINST KCM.VEDANTA RESOURCES SAYS "KCM IS SEEKING TO MEET WITH THE GOVERNMENT AS A MATTER OF URGENCY TO DISCUSS THE FUTURE OF KCM".CO, KCM REITERATE REQUEST FOR IMMEDIATE AND URGENT MEETING WITH EDGAR LUNGU, PRESIDENT OF ZAMBIA, TO DISCUSS MATTER.  Full Article

Indian court allows Vedanta to participate in alumina tender floated by NALCO
Tuesday, 26 Mar 2019 08:40am EDT 

March 26 (Reuters) - Indian court says::ALLOWS VEDANTA TO PARTICIPATE IN ALUMINA TENDER FLOATED BY NATIONAL ALUMINIUM COMPANY .  Full Article

Vedanta Says CRISIL Revises Outlook On Co To Stable From Positive
Tuesday, 19 Feb 2019 11:56pm EST 

Feb 20 (Reuters) - Vedanta Ltd ::SAYS CRISIL REVISED RATINGS FOR CO FROM CRISIL AA/POSITIVE/CRISIL A1+ TO CRISIL AA/STABLE/CRISIL A1+.  Full Article

Vedanta Says SC Upheld NGT's Order Allowing Co To Reopen Tuticorin Copper Smelter
Tuesday, 8 Jan 2019 08:43am EST 

Jan 8 (Reuters) - Vedanta Ltd ::SC PASSED ORDER TO UPHOLD NGT'S ORDER ALLOWING VEDANTA TO REOPEN ITS COPPER SMELTER AT TUTICORIN.SAYS SC FURTHER STAYED IMPUGNED ORDER WHICH HAD GRANTED STATUS QUO ON NGT ORDER PASSED BY MADURAI BENCH OF MADRAS HIGH COURT.SAYS APPROACHING STATE GOVERNMENT FOR NECESSARY APPROVALS FOR RESTARTING SMELTER AS PER SC DIRECTIONS.  Full Article

Vedanta's Qtrly Copper India Cathode Output Falls 86 Pct To 15,000 Tonnes
Friday, 12 Oct 2018 07:25am EDT 

Oct 12 (Reuters) - Vedanta Resources Plc::TOTAL ZINC INTERNATIONAL PRODUCTION FOR Q2 FY2019 WAS 28KT, LOWER BY 34 PERCENT Y-O-Y .VEDANTA RESOURCES Q2 FY19 PRODUCTION RELEASE.AVERAGE GROSS OIL & GAS PRODUCTION OF 186 KBOEPD FOR Q2 FY2019, UP 3 PCT Y-O-Y.GOA IRON ORE OPERATIONS REMAIN SUSPENDED DUE TO STATEWIDE DIRECTIVE FROM SUPREME COURT.STEEL PRODUCTION AT 285KT FOR Q2 FY2019, UP 16 PCT Y-O-Y.QUARTERLY ALUMINIUM PRODUCTION AT 494KT, UP 23 PCT Y-O-Y.QTRLY COPPER ZAMBIA OUTPUT 49,000 TONNES VERSUS 54,000 TONNES.QTRLY COPPER INDIA CATHODE OUTPUT 15,000 TONNES VERSUS 106,000 TONNES.VEDANTA, ON HALTED SMELTING OPERATIONS AT TUTICORIN, SAYS INDEPENDENT COMMITTEE WILL GO THROUGH REPORTS PRODUCED ON ISSUE OF ENVIRONMENTAL COMPLIANCE.VEDANTA, ON HALTED SMELTING OPERATIONS AT TUTICORIN, SAYS NGT REFERRED MATTER TO INDEPENDENT COMMITTEE AFTER CO'S APPEAL.EXPECT INDEPENDENT COMMITTEE TO TAKE DECISION IN Q3 FY2019 ON TUTICORIN SMELTING OPERATIONS.  Full Article

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Vedanta June-qtr profit falls nearly 12%, misses estimates

BENGALURU Indian mining conglomerate Vedanta Ltd's first-quarter profit slightly missed estimates as falling commodity prices hurt revenue and margins.