Recently the news has come on the internet that Vedanta Ltd announced a 2% increase in its total aluminium display to 5,94,000 tonnes in the second quarter of FY24. The company’s complete aluminium result in the July-September time of the previous fiscal was 5, 84,000 tonnes. The excavated metal output at Zinc India was down 1% to 2, 52,000 tonnes from more than 2,55,000 tonnes in the year-ago period. Currently, this news has been making the rounds on the internet as they are very curious to know the complete information about the news. Here we have more information about the news and we will share it with you in this article.
Vedanta stated at Zinc International, that its total excavated metal output decreased by 10% to 66,000 tonnes from 74,000 tonnes, year-on-year (YoY). The company’s general presentation during Q2FY24 at 66 Kt was down by 10% YoY and 3% QoQ largely due to lower tonnes treated. The company stated in a stock exchange filing that its commercial steel production rose 17% YoY to 3,78,000 tonnes on account of enhanced operational efficiency and more increased production capacity post debottlenecking carried out in FY23. Power sales developed by 12% to 4,048 million units (MU) from 3,615 MU in the year-ago period. Scroll down to the next page for more information about the news.
As per the report, the billionaire Anil Agarwal-led Vedanta declared on 29 September 2023 a total restructuring that included the demerger of its diversified business into six different listed companies. Under the suggested demerger, the existing company is going to be divided into Vedanta Aluminum, Vedanta Steel, Vedanta Oil and Gas, Vedanta Power and Vedanta Base Metals, Ferrous Materials as well as Vedanta Ltd. It was noted that Vedanta Resources Plc is in progressive talks. You are on the right page for more information about the news, so please read the complete article.
As we already mentioned, Vedanta Resources Plc is in advanced talks with JPMorgan Chase and Standard Chartered Bank to ensure a $3 billion refinancing talent to prevent bankruptcy. At around 9:30 a.m., Vedanta’s share price had been trading 0.93% lower at ₹228.65 apiece on the BSE. At Vedanta, we are focused on sustainable development while establishing high measures of governance and transparency. At our core is a task to create India self-reliant in natural resources and electronics and empower the transition to a greener economy without transformative metals. Here we have shared all the information which we had. Stay tuned to us for more updates.