Vedanta Resources, the UK-listed mining group, is planning to invest $20bn in India in the next four years to expand its metals, mining and electricity generation operations in the country.
The directions came after the Delhi government told the court that oxygen that was to come from Panipat in Haryana was not being allowed to be picked up by the local police there.
Metals and mining major Vedanta Resources will buy bankrupt US copper miner Asarco for $1.1 billion in cash and a note worth $600 million, the latter to be paid over a period of nine years.
This comes after both parties failed to arrive at an agreement on an appropriate valuation of the stake, a company executive said. Sterlite bought 51 per cent stake in Balco in March 2001 for Rs 552 crore (Rs 5.52 billion) when the National Democratic Alliance (NDA) government decided to divest the government stake in the public sector company.
In the midst of huge job losses as a fallout of the coronavirus pandemic, Tamil Nadu Chief Minister Edappadi K Palaniswami has signed 17 MoUs for an investment of Rs 15,100 crores that aim to provide 47,100 jobs. But a clearer picture on where the projects stand will emerge only after the Covid-19 induced fear psychosis ends, to see if popular protests will derail them like they have done so many others, says N Sathiya Moorthy.
Unlike the regimes of Jayalalitha, Palaniswami and Karunanidhi, ministers are actually getting to make decisions on their own, with the unmentioned rider that they would be held responsible and accountable, observes N Sathiya Moorthy.
Union Budget 2014-15 is positive for metals and mining companies.
Metal sector is not too happy from Budget announcements for the sector
The 'S&P India 10 index' is designed to address this accessibility challenge. It offers investors liquidity and investability, and can also serve as a basis upon which to create investment products," Vice President of Portfolio Services for S&P Steven Goldin said.
At 47 protests a day, the state has become the most restive in the country and investors are becoming increasingly wary
Base metals have recorded a sharp rise in prices as global demand picks up. Rising alongside are the share prices of the leading metal companies in the country like Sterlite, National Aluminium Company and Hindustan Zinc.
The Vedanta group, the eighth largest mining and metal company in the world, is all set for a gold rush in India.
Two experts discuss stocks they are bullish on.
Kanimozhi told reporters that the Palaniswami-led government has become 'bloodthirsty' and the chief minister should be held responsible for the incident.
Anil Agarwal, chairman of the Vedanta group, has not started the New Year on a good note.
Among the series of questions raised were how self-loading riffles found their way out of the armoury and came to be used in the firing, how snipers were perched atop vehicles and how persons came to be shot in the face and chest.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Stalin has given due respect to seniority in the pecking order, but has also taken into consideration the demands of individual ministries and the suitability of individuals, observes N Sathiya Moorthy.
The superstar blamed anti-social elements for the anti-Sterlite protests last week that resulted in 13 deaths in police firing, and called for a Jayalalithaa-style 'iron fist' policy to crush such people in the interest of Tamil Nadu.
'In UP, the CM actually announced that his administration would 'take revenge' against rioters.' 'That must have been music to his police force's ears for it substantiated what the police always do: Take revenge on an entire community for the violence of a few,' points out Jyoti Punwani.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Why did such a 'socially conscientious' people adapt to cash-for-votes and the like, as fish to water? N Sathiya Moorthy offers an explanation.
The fall in metal and mining stocks comes on the back of weak Chinese trade data
The Rs 3-trillion West Coast or Nanar refinery has all the potential to become India's flagship petrochemicals project, with the planet's largest oil producer Saudi Aramco as its biggest shareholder. Yet the locals don't see the plant as a harbinger of better times.
The 30-share Sensex ended up 8 points at 27,508 and the 50-share Nifty closed 1 point higher at 8,284.
Market breadth was weak with 1,260 advances and 1,597 losers on the BSE.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
The market breadth in BSE remains positive with 1,554 shares advancing and 1,196 shares declining.
In the absence of the over-arching 'Jaya charisma', EPS has to convince the AIADMK's traditional constituencies, including those in his western districts, that his leadership would stand up against the BJP-led Centre even in a post-poll scenario, a la Jayalalithaa, and would not yield as much as party founder MGR had done, says N Sathiya Moorthy.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
'The category of crime and criminals called Maoist or Naxal or #UrbanNaxals is an illegitimate creation of right-wing propaganda media frenzy.' 'It is a fiction repugnant to the Constitution and the law of the land,' argue Vernon Gonsalves and Arun Ferreira.
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