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Vedanta Share Discussion Threads
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|Vedanta targets £8bn expansion as profits recover
Indian mining group Vedanta Resources believes it can challenge industry titans BHP Billiton and Vale with a $10bn (£8bn) expansion programme that will boost its footprint in oil, gas, zinc and lead.
Vedanta, listed on the FTSE 250, is chaired by its founder, billionaire Anil Agarwal. It specialises in zinc but also produces copper, iron ore, oil and gas and has operations across India, Sri Lanka, Africa and Australia.
Mr Agarwal outlined plans to hike oil output by over a third to the Press Trust of India: “We have the potential to spend $10bn over a period of five years; we are looking at 3,50,000 barrels of oil a [a day]... to have 100,000 barrels equivalent to gas.”
The Vedanta chairman also revealed that the company’s long-running effort to merge two subsidiaries, Cairn India and Vedanta Limited, should be completed in the current quarter. Vedanta has pursued the tie-up in a bid to simplify its sprawling structure.
Mr Agarwal's comments came as Vedanta reported a 79pc jump in earnings before interest, taxes, depreciation and amortisation to $882.3m in the three months to the end of December.
Third-quarter revenue climbed 26pc to $3.07bn, helped by higher production and rising commodity prices.
Tom Albanese, chief executive, credited a better performance in its assets and “a continued focus on costs, alongside stronger commodity prices” for the improvement.
Vedanta shares slipped 0.29pc to £10.37 in afternoon trade. The stock is up 287pc in the last year, making it the best-performing stock in the FTSE 250 in that time.
|It's had a massive run... best run amongst the miners. Retrace not entirely unexpected!|
|All miners down today, not sure why. This is now down 11% of its highs just a few days ago|
|well I have a little trading cash so may add here.|
|dont be fooled by the drop...will turn very quickly soon|
|well i bought in today...first time since i had to close my 200p positions this time last year due to oxus gold disaster or i would have been minted...nevermind even at 1000p i can see big gains to come...should carry on towards 2000p|
|Surprised we didn't have a better day, results suggest good things to come, perhaps the markets are slow to react.|
|Nice to see a reduction in debt.|
|Very solid results here today and we still have the merger news with Cairn India to look forward to.|
|Vedanta to invest $1 bn in Jharkhand, build steel plant: Agarwal Dubbing Jharkhand as "a diamond in the crown of the world", Vedanta Resources Group Chairman Anil Agarwal said the state is "full of potential" and Vedanta has big plans for it.
Read more at: hTtp://www.moneycontrol.com/news/business/vedanta-to-invest-361-bnjharkhand-build-steel-plant-agarwal_8508421.html?utm_source=ref_article|
|Feb 15, 2017, 07.39 AM | Source: Moneycontrol.com
Vedanta Q3 profit jumps 4.5-fold to Rs 1866 cr on strong EBITDA Albanese said with focus on simplifying the group structure, the Vedanta and Cairn India merger is expected to be completed in the first quarter of CY 2017.
Read more at: hTtp://www.moneycontrol.com/news/results/vedanta-q3-profit-jumps-45-fold-to-rs-1866-crstrong-ebitda_8492161.html?utm_source=ref_article|
|I'm holding due to the large dividend and believe more upside to come. I have taken the book value out and running the profit hence no risk for me.
|I have made £27,000 since last June. Should I sell?|
|Struggling a little here to break new highs, KAZ is starting to catch up in terms of market cap.|
|Yeah shame it didn't break new highs. Still waiting on the Cairn oil merger.|
|KAZ is powering ahead, VED should catch up. A 3 billion market cap is far too low in comparison with the others.|
patience a virtue
|Agreed, reckon this will go high enough to hit the FTSE100.
Yield is no longer silly/sky high.
Annual div (ADY) 40.27 GBX
Annual div yield (ADY) 3.70%
|Hedge funds trying to get cheap stock to rebalance books. Do not sell as this is going a lot higher.|
|Almost £3bn market cap.
£1.1bn+ on top could mean a potential re-entry to the FTSE100.|
|New highs just lovely. News on Cairn would be nice.|
|Indeed, I have a bit of sellers remorse, it was a nice proxy for a Indian trust I'm now eying up?|