The Finance Ministry has recommended auction of government's minority holding in erstwhile state-run firm Hindustan Zinc saying Parliament approval on selling its residual stake is not needed as the company can no more be classified as a PSU, sources
Thanks to higher-than-expected refined metal volumes (227kt v/s PLe: 223kt) and realisations (Rs1,33,172/t v/s PLe: Rs1,29,745), revenues grew ahead of our expectation at Rs35.2bn (PLe: Rs34.9bn), up 19.8% QoQ.
Sweetening its long pending offer, mining conglomerate Vedanta Resources will hike the total offer price for acquiring more stakes in Hindustan Zinc and Balco to nearly $4 billion (more than Rs 24,800 crore).
Vedanta Resources is yet to hear anything "officially" on disinvestment of Hindustan Zinc and Balco, but sees "conviction" on part of the government to move ahead with the proposed stake sale, a top company official said today.
The Securities and Exchnage Board of India's circular of last week on clearing of option arrangements is good news to Indian companies but will not help existing arrangements such as Hindustan Zinc's call option with the Government of India that was
Mines Minister Dinsha Patel today said his Ministry would send the requisite report to the Prime Minister's Office (PMO) on sales of residual stakes in Hindustan Zinc (HZL) and Balco after going through all pros and cons minutely.
For the London-headquartered Vedanta group, acquisition of the government’s stake in Hindustan Zinc Ltd (HZL) is important, as it will give the Anil Agarwal-led company access to HZL’s cash reserves to pay the loans taken to acquire
Govt and Vedanta are in discussion for the sale of government’s stake to Anil Agarwal-led companyVedanta Plc, the London-based metals and energy giant, might sweeten its offer for the Union government’s stake in Hindustan Zinc Ltd (HZL) by
The world’s largest integrated lead and zinc producer, HZL, reported net profit of Rs 1,660.45 crore for the first quarter of the current financial year as opposed to Rs 1581.34 crore in the corresponding period last year.
Vedanta group firm Hindustan Zinc today reported 5% growth in net profit at Rs 1,660.45 crore for the quarter ended June 30, 2013, as impact of higher sales and output was partially offset by lower metal prices.