Sterlite Industries Ltd

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  Vedanta's Sterlite Copper Appoints New CEO Amid Battle To Reopen Smelter

  Vedanta Ltd on Friday named metals industry veteran Pankaj Kumar as Sterlite Copper chief executive, amid struggles to reopen its smelter in Tamil Nadu that was shut last May after police killed 13 demonstrators protesting against the plant.

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  Sterlite Plant Won't Be Reopened, Says Tamil Nadu Minister

  The Tamil Nadu government today said the Sterlite Industries' plant in Tuticorin would not be re-opened as its policy decision to seal the Vedanta Ltd unit was in line with people's sentiments. This comes on a day when a three-member panel appointed by the National Green Tribunal (NGT) and led by former Meghalaya High Court Chief Justice Tarun Agra...

• Government Nod for Allocation of Bauxite Block to Odisha Mining

  The government has approved a proposal from Odisha to allocate a bauxite deposit with reserves of over 150 million tonnes to the state mining company, a move likely to help companies like Sesa Sterlite Ltd that are banking on the raw material to fire their aluminium smelters in the state.

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  Hindalco Wins Another Coal Mine

  The companies that were bidding for Gare Palma IV-5 mine are Ambuja Cements Ltd, BALCO, Hindalco Industries, Monnet Ispat and Energy Ltd, Rungta Mines Ltd, Sarda Energy and Minerals Ltd and Sesa Sterlite Ltd.

• Sesa Sterlite Says Supreme Court Ruling Not Related to Company

  Sesa Sterlite Ltd has said the Supreme Court's reiteration on Tuesday of a prior ruling that all iron ore mined in Goa before 2007 belonged to the western state did not relate to the company.

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  Government Urges Court Not to Cancel 'Illegal' Coal Mines

  The suggestion by Attorney General Mukul Rohatgi sent shares of some of the big companies that hold coal blocks sharply higher on speculation this could lead to the court avoiding a wholesale cancellation of blocks as feared earlier.

• Government Initiates Valuation Process for Balco Stake Sale

  Going ahead with the residual stake sale in Balco, the government on Thursday started the process of valuation of its 49 per cent stake in the company.

• Sesa Sterlite gains; Moody's upgrades Vedanta

  Moody's said Vedanta has taken steps to improve its credit profile, simplifying its group structure through the formation of Sesa Sterlite - the result of a merger between Sesa Goa and Sterlite Industries - and through its more proactive approach to refinancing debt.

• Vedanta to bid for Hindustan Zinc shares if price lucrative: chairman Anil Agarwal

  London-listed Vedanta at present holds 64.92 per cent stake in Hindustan Zinc Ltd (HZL) and 51 per cent stake in Bharat Aluminium Company (Balco). The company, in January 2012, had proposed acquirin

• No preference to Vedanta in Hindustan Zinc, Balco stake sale: Mayaram

  Vedanta Group, the owner of Hindustan Zinc and Balco, will not get any preference when the government auctions its residual stake in the two companies this financial year, Economic Affairs Secretary Arvind Mayaram has said.

• Government likely to divest remaining Balco shares via auction route: report

  The government is likely to sell its remaining stake in aluminium major Balco through auction route following opinion of the Law Ministry that "there appears no constitutional or legal issue involved" in selling shares of the company via offer for sale (OFS) method, according to sources.

• Sterlite serves notice to Vizag Port to terminate contract

  Vizag General Cargo Berth Pvt Ltd (VGCB), a 74:26 joint venture between Sterlite Industries and Leighton WelspunContractors, was awarded the project for mechanisation of coal handling facilities and upgradation of general cargo berth at outer harbour of Vizag Port to cater to 200,000 tonnes capesize ships in June 2010.

• No new offers yet from Vedanta on HZL, Balco sale, says official

  The government has not received any new offer from Vedanta Resources for acquiring its remaining stakes in Hindustan Zinc Ltd (HZL) and Balco, a senior official said today.

• Deutsche Bank downgrades Sesa Sterlite to hold

  Deutsche says the company, which came into being following the recent merger between Sesa Goa and Sterlite Industries, will benefit from the combined diversification and revenue mix.

• Sesa Goa gains 14 per cent on Sensex inclusion

  Sesa Goa said on Saturday its merger with Sterlite Industries and the group's various Indian arms to create a single unit has become effective.