Vedanta Share Discussion Threads

[scoble2] 28/5/2018 18:19

Sterlite Copper is a unit of Vedanta Ltd which operates a 400,000-tonne per annum capacity plant. If you take 400,000 tonne away from total capacity - How much VED worth now??? £3 ??

[losses] 28/5/2018 16:01

India closes Vedanta copper smelter permanently after bloody protesthttps://finance.yahoo.com/news/indian-state-leader-says-steps-050745289.html

[losses] 28/5/2018 15:59

Glad held off buying on Friday..

[losses] 28/5/2018 15:59

Oh no... crash in shares expected tomorrow then... if the delisting mob come along then VED will be wiped out..

[smurfy2001] 28/5/2018 15:52

Assuming Vedanta can prove the plant is "clean" one could view this closure as calming the waters so to speak and not a permanent one. Expecting an RNS before 8am Tuesday.

"Under Sections 18(1)(B) of the Water Act, 1974 in the larger public interest, the Government endorse the closure direction of the TNPCB and also direct the TNPCB to seal the unit and close the plant permanently," said the Order.

[smurfy2001] 28/5/2018 14:33

Bad news on the plant closure by the local government.

[mustau] 28/5/2018 11:31

Smurf

Reads well no doubt the delist bridgade will continue the noise!

[smurfy2001] 28/5/2018 09:58

Confident about zero discharge from plant in line with our stringent rules: Anil Agarwal, Vedanta

In his first media interview since the violent protests at the Sterlite Copper smelter in Tuticorin, Anil Agarwal, chairman, Vedanta Resources, alludes to vested interests behind the tragic events. India produces only 2% of the world’s copper, and the rest is supplied by Canada, the Middle East, and Europe. “Right from day one, I have been saying this that this happens only in India. All the time, people take advantage of our democracy,” Agarwal tells ET’s Vatsala Gaur and Satish John in an exclusive interaction over the telephone from London.

[temmujin] 26/5/2018 19:34

any rumour of a delist and price will crash sub 200p

[smurfy2001] 26/5/2018 18:16

Agarwal Wants to Build Indian Commodity Giant to Rival Majors

Billionaire industrialist Anil Agarwal plans to leave behind a legacy: an Indian resources group to rival the world’s biggest.

The founder and owner of Vedanta Resources Plc wants to keep building the company into a giant producer of the commodities that India needs to curb its reliance on imports, create jobs and reduce poverty. Despite its insatiable appetite for materials, India is yet to impose itself among the mining heavyweights in the way that Australia, China or even the U.K does.

"It can be the second- or third-largest resource company in the world," Agarwal, 64, said in an interview in London. Domestic resources have been key to the success of all of the world’s biggest economies and India should be no different, he said. “We thought India should have a company.”

[3noddy] 26/5/2018 12:54

The Telegraph did a nice article on McDonnell a couple of years ago...

[smurfy2001] 25/5/2018 23:52

Slide pack from Vedanta worth a look:

[the original goldbug] 25/5/2018 22:00

Meanwhile McDonnell is praising Maduro...

[mustau] 25/5/2018 20:40

Shame he didn’t say that bout backers of primark.. and British and American companies that have continuously exploited aboard. Reputation, backside then city itself is a rogue mile..

The protest was not even at the plant, it was around local government offices.

[fangorn2] 25/5/2018 19:15

Mr McDonnell said removing Vedanta from the London Stock Exchange "would prevent further reputational damage to London's financial markets from this rogue corporation".

"How is this imbecile so close to power?

Did Vedanta kill the protesters or was it the Police? Last time I looked the Police were not Vedanta"

A clear example of BBC peddling drivel

[smurfy2001] 25/5/2018 18:18

Agarwal’s confidence is largely driven by India’s reliance on imported raw materials. The country’s economy is expected to triple by 2030, and at the moment oil and mineral imports cost the nation about $300 billion a year, he said. By developing local mines, he hopes to curb that import spend and increase the mining industry’s contribution to the economy from 2.5 percent to 10 percent.

[smurfy2001] 25/5/2018 18:04

The plant has already been shut for more than 50 days and had been ordered to stay closed until at least June 6, pending environmental clearances.

[smurfy2001] 24/5/2018 18:10

Vedanta Resources plc's subsidiary Vedanta Limited today made the below announcement.

The Tamil Nadu Pollution Control Board (TNPCB) vide its order dated May 23, 2018 ordered disconnection of electricity supply and closure of the Company's 'Copper Smelter Plant 1 at Thoothukkudi District, Tamil Nadu' under provisions of Section 33A of the Water (Prevention and Control of Pollution) Act, 1974 and Section 31A of Air (Prevention and Control of Pollution) Act, 1971, with immediate effect. We would also like to inform that the plant was not operating since March 27, 2018.

We continue to work with the regulatory authorities, at all time ensuring compliance with the necessary regulations.

In terms of Regulation 30 of the SEBI Listing Regulations, please note that the said Copper Smelter has contributed Rs. 1,373 Crore i.e. 5.4% of the consolidated EBIDTA during the last financial year 2017-18 and the carrying value of property, plant and equipment as at March 31, 2018 was Rs. 2,131 Crore i.e. 2% of total assets.

[smurfy2001] 24/5/2018 15:17

Anil makes a comment:

[smurfy2001] 24/5/2018 15:13

Anti-Sterlite protests: Vedanta chief Anil Agarwal says company wants to restart operations with community support

[rampant_bull] 24/5/2018 15:03

Kaz now almost 300 ahead. Unreal, never thought that would be the case when I invested in this dog

[fangorn2] 24/5/2018 00:34

Yeah dont dispute that at all.

Vedanta a classic Chaebol/conglomreate - big fan myself of such a structure.
Agarawal connected though so am sure it will all come good - after all, was Polcie shooting,not the company.
ie The Indian State putting down protests.

I'll take Indian political risk over South Africa any day now. Latter initiating Project Zimbabwe2 - oh well, good times whilst they lasted - sayonara Constantia,Sea Point, Stellenbosch. Hello poverty, famine, pestilence and wah wah it woz da white mand fault.

[cumnor] 24/5/2018 00:28

Seems to be the case of late, Fangorn but Ved seems to be additionally a complex creature and with debt to boot and Agarawal going for a whack of AAL without any reference to VED shareholders (he doesn't need to I know) but.........
Why not pay off debt-forget more acquisitions etc or at least say bluntly what the plan is. imo