On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses. The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing. The signs have been there - approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes (mt).
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
It took 150 workers a total of four months to build this idol of Lord Ganesh, which cost approximately Rs 1 crore.
India Ratings expects long products demand growth to be sharp, supported by a demand push from the government-led infrastructure investments in affordable housing, railways, rural electrification and road networks.
Foreign brokerage firm CLSA initiated coverage on the stock with a Sell rating and target price of Rs 1,095, citing hefty premium valuation.
Hassan Rouhani to offer Friday prayers in Hyderabad's Mecca Masjid.
Fifty-eight-year-old Soundararajan, the Tamil Nadu BJP chief and the party's national secretary, moves to Raj Bhavan in Telangana.
Ace shuttler Saina Nehwal, shooter Gagan Narang and India cricketer VVS Laxman were among several sportspersons who were the part of the Queen's Baton Relay that arrived in Hyderabad on Saturday.
Union Home Minister Rajnath Singh met governor of Andhra Pradesh ESL Narasimhan for an hour today in yet another attempt to bring about a thaw between the two warring states of Andhra and Telangana. Sources told Rediff.com that Rajnath Singh told the Narasimhan to explain Section 8 in the AP Bifurcation Act to both chief ministers.
As President Pranab Mukherjee completed his first year in office on Thursday; he focused on education and health care, while interacting with governors across the country through a new video conferencing facility from the Rashtrapati Bhavan.
Andhra Pradesh Governor ESL Narasimhan on Thursday invited Telangana Rashtra Samithi chief K Chandrasekhar Rao to form government in the new state, which would come into existence as the 29th state of India on June 2.
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India is the 9th largest civil aviation market in the world and is expected to reach third position with a fleet size of 1,000 by 2020.
Telangana is all set to become India's 29th state after the Andhra Pradesh Reorganisation Bill was passed in the Rajya Sabha on Thursday evening amid uproar.
Andhra Pradesh Civil Supplies Minister D Sridhar Babu resigned from the Cabinet on Thursday night protesting the divesting of legislative affairs portfolio that he had been holding for over three years now.
The Eastern Naval Command is all geared up to host the International Fleet Review in the Bay of Bengal off Visakhpatnam coast which begins on Wednesday, a mega event that will witness participation from nearly 50 countries.
The birth of India's 29th state will be delayed if the President's rule in Andhra Pradesh is not passed in Parliament before April 30, reveals Governor ESL Narasimhan's "top secret " letter to Pranab Mukherjee
At places in the border districts of Barmer and Jaisalmer, people walked miles through the desert to cast their votes.
Anjuli Pandit wants to use her skills to educate more and more Indians, says Chaya Babu
Senior New Delhi-based journalist R Rajagopalan, who has been closely following the Union Budget preparations since 1977, lifts the veil off India's most secretive operation.
