The CreditWatch action follows Vedanta's announcement that it would acquire a controlling stake in India-based oil and gas company Cairn India Ltd.
Roughly 40% of this projected outlay is expected to go towards emerging industries, including green hydrogen, clean energy, semiconductors, and electric vehicles.
Indian plants -- who plan to begin production with 28 nano metre chips -- will take two to four years to get off the ground. By that time, in the fast changing world of chip making, the global market would have shifted to 22 nm.
The demonstrators oncarried placards saying 'Anil Agarwal, Blood on Your hands', 'Who killed Arsi Majhi? Vedanta, Vedanta'.
The Congress on Monday claimed that the Tata-Airbus C-295 aircraft facility inaugurated in Vadodara was earlier supposed to be set up in Nagpur and alleged that under Prime Minister Narendra Modi's instructions, the Centre and the Mahayuti dispensation have conspired to ensure the 'wholesale surrender' of Maharashtra's interests.
Zero-debt Cairn India has $2.85 billion cash reserve.
Hockey India League will return after seven long years in a new avatar, where both the men's and women's teams will participate in the event, starting on December 28.
The bench said when the people were running, the police chased them and opened fire.
PM's Massive Mission to achieve 'Swachh Bharat' by 2019 is a tribute to Mahatma Gandhi on his 150th birth anniversary.
The environment ministry till May 2014 (still under UPA) ordered that cases like Vedanta's expansion plans need to consult people. But in December 2014, the NDA government reversed this position and in March 2015 the environment ministry extended Vedanta's environmental clearance till December 2018. This it did even while the question of the need for public hearing by projects in different kinds of industrial parks was being contested in the courts. This allowed the company to carry out construction.
'More than 9.5% new voters have been added to the electoral voters' list compared to the 2024 Lok Sabha election.' 'This led to an increase in about 5% to 6% in total votes polled for this assembly election.' 'That has tilted hugely in our favour because we worked hard for registration of these voters and concentrated on bringing out these new voters out during this assembly election.'
The company cited the global financial turmoil and shareholders' objections as reasons for the sudden change of plan. On September 9, Vedanta had said it wanted to reorganise businesses under three major subsidiaries, creating a group for copper and zinc, another for aluminum and energy (mainly power) and the third for iron ore.
It is not clear what will happen if the open offer is completed before the government approves the deal.
Industry leaders on Thursday mourned the death of Ratan Tata saying with his demise India has lost a visionary who shaped its industrial and philanthropic landscape. Tata was a truly remarkable business leader who placed the country before business interests, and whose vision was truly transformational for a country and its people, TVS Motor Co Chairman Emeritus Venu Srinivasan said in a statement. "Mr Tata was a truly remarkable business leader, the likes of whom nations get only once in a century," he added.
While Vedanta Aluminium, Balco and Cairn India confirmed the job cuts, sources said Sesa Goa too had slashed jobs.
Hyderabad-based Maytas Infra has issued a legal notice to Vedanta Aluminum for "fraudulently and illegally" encashing two bank guarantees worth Rs 64 crore
India is planning to soon sign new and updated mineral pacts with about a dozen countries in Africa. The Ministry of Mines is in discussions with Cte d'Ivoire, Democratic Republic of the Congo (DRC), Madagascar, Malawi, Mali, Morocco, Mozambique, South Africa, Tanzania, Zambia and Zimbabwe, Business Standard has learnt. Negotiations are ongoing with around a dozen countries, and more will be added to the list soon.
In June last year, India unveiled its first list of 29 critical minerals open for private sector exploration and mining. Since then, 38 critical mineral blocks have been auctioned, but only 14 - less than 37 per cent - have found bidders. This modest achievement was secured only after the Centre conducted a second round of auctions when the first round fell flat, failing to attract the minimum required bidders.
Vedanta has acquired 58.5 per cent in Cairn India for a total consideration of $8.67 billion, the third-largest acquisition ever by an Indian enterprise globally.
A reading of the reports suggests that there is no standard practice for reporting political contributions and it is left to the company's discretion to report them as they find fit.
Rajni Bakshi argues that if people don't struggle for fair and equitable prosperity right now, they might lose the chance of doing so in the future.
A day after the government referred its $9.6 billion deal to a panel of ministers; UK's Cairn Energy Plc on Thursday said it has extended the deadline for completion of the sale of a majority stake in its Indian unit to Vedanta Resources by over a month to May 20.
The Vedanta group, the eighth largest mining and metal company in the world, is all set for a gold rush in India.
74 of these fatalities were reported by 8 companies: Coal India (21), L&T (14), Vedanta (13, of which Hindustan Zinc reported 7), Tata Steel (7), Power Grid Corporation of India (7), JSW Steel (6), and ONGC (6).
Vedanta Resources, which was pulled up for its role in the mining scam in India, is under the scanner yet again. This time for making illegal contribution of Rs 28 crore made to political parties in the last 3 years. Vicky Nanjappa reports
Megha Engineering and Infrastructures Limited was the top donor to the Bharatiya Janata Party at Rs 584 crore and the Bharat Rashtra Samiti at Rs 195 crore.
It also asked why the data shared pertained to a period from April 2019 even though the scheme for anonymous political funding was introduced in 2017.
The Supreme Court on Monday issued notices on a public interest suit challenging the role of the central government and state-owned Oil and Natural Gas Corporation in the deal between Cairn India and Vedanta Resources.
The Home Ministry, while giving the security no-objection certificate (NOC), highlighted eight areas of concern, including 64 legal proceedings against Vedanta and its subsidiaries in various courts, sources privy to the development said.
Anil Agarwal, chairman of the Vedanta group, has not started the New Year on a good note.
Vedanta Aluminium has been struggling to source sufficient bauxite to feed the 1 million tpy alumina refinery since its commissioning in August 2007.
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According to media reports, CBI is looking into the entire process at the then NDA government and has asked for information from the mines ministry.
Stocks of Indian steel companies are reeling from pricing pressure that is partly blamed on cheap imports. The stocks have declined up to 9 per cent on the NSE in one month, likely allowing investors an opportunity to use the correction to enter the pack as pricing pressure eases. "In steel or any other commodity, if prices or spreads are nearing their bottom, it can be an opportune time to invest in those stocks. In India, domestic fundamentals such as steel consumption remain robust, hence one can take fresh positions in these counters," said Amit Dixit, an analyst at ICICI Securities.
From steel tycoon Lakshmi Mittal to billionaire Sunil Bharti Mittal's Airtel, Anil Agarwal's Vedanta, ITC, Mahindra and Mahindra, and a lesser-known Future Gaming and Hotel Services were among the prominent buyers of the now-scrapped electoral bonds for making political donations.
US chipmaker Advanced Micro Devices (AM) on Friday announced a $400 million investment in India over the next five years and said it will build its largest design centre in Bengaluru. AMD chief technology officer Mark Papermaster made the announcement at the annual semiconductor conference in the presence of Prime Minister Narendra Modi. Undeterred by Taiwan's Foxconn pulling out of his group's $20 billion semiconductor-making venture, mining baron Anil Agarwal said the first phase of Vedanta's chip-making project will be ready in two-and-a-half years.
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