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Vedanta Limited (0A7W.L)

LSE - LSE Delayed price. Currency in USD
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12.01+0.48 (+4.15%)
As of 4:32PM BST. Market open.
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Previous close11.53
Bid0.00 x N/A
Ask0.00 x N/A
Day's range12.01 - 12.01
52-week range12.01 - 12.01
Avg. volumeN/A
Market capN/A
Beta (5Y monthly)1.77
PE ratio (TTM)N/A
EPS (TTM)-1.06
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Agarwal’s Vedanta Plans New $1.4 Billion Copper Smelter

    Agarwal’s Vedanta Plans New $1.4 Billion Copper Smelter

    (Bloomberg) -- Anil Agarwal’s Vedanta Ltd. is scouting for locations to set up a new copper smelter in India as its plant in the southern state of Tamil Nadu has remained shuttered for close to three years.The Mumbai-based company is seeking expressions of interest from state governments of coastal Indian states to partner with it for setting up a 500,000 tons-a-year copper smelter complex at a potential investment of around 100 billion rupees ($1.4 billion), it said in a newspaper advertisement. The project will require about 1,000 acres (4.0469 square kilometers) of land close to a port along with logistics connectivity, it said.Vedanta has fought multiple court battles to restart production at its 400,000 tons copper factory in Tuticorin. The plant has been closed since 2018 on orders from the state government after more than a dozen people were shot dead by the police while protesting against pollution from the facility. A fresh plea to restart the smelter is pending in India’s top court.Agarwal’s move comes as copper prices rallied to a nine-year high in February on expectations of higher demand due to a global economic recovery and green initiatives. While the rally has faltered in recent weeks on rising inventories and renewed coronavirus lockdowns in Europe, the additional capacity would ease India’s trade expenditure and improve supplies locally.“India’s copper requirements are set to grow exponentially in the coming years,” Vedanta said in an emailed statement. “Having ample supplies of copper is critical to ensuring successful implementation of new-gen technologies such as electric vehicles, rapid automated transport and clean energy.”Vedanta’s Tuticorin smelter closure cut India’s copper output by almost half, turning the country into a net importer of the metal. In the first two years of the shutdown, refined copper imports rose more than three times to 151,964 tons in the financial year ended March 2020, while exports slumped 90% to 36,959 tons, according to a government statement.(Updates with comment from company in the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Reuters

    India's Vedanta looking for state partners for new $1.4 billion copper smelter

    Billionaire Anil Agarwal-controlled Vedanta Ltd said on Wednesday it was looking for a Indian state government partner to set up a 100 billion rupees ($1.37 billion) copper smelter, nearly 3 years after its existing smelter was shut. Vedanta's 400,000 tonnes per annum copper smelter in the port city of Thoothukudi was ordered shut in May 2018 by the southern Tamil Nadu state, a week after police killed 13 protesters seeking the plant's closure for alleged pollution. "We are looking to partner with state governments for setting up a copper smelter in a coastal region in India," Vedanta said in advertisment in the Economic Times newspaper on Wednesday.