Study reveals high cost of achieving carbon neutrality in India's aluminium sector
 

Vedanta plans to invest USD 20 bn in India in 4 years; will sell steel biz only at right price: Anil Agarwal
The Vedanta Group is aiming to invest USD 20 billion across all its businesses in India over the next four years, its Chairman Anil Agarwal said on Wednesday. The group will sell the steel business only at the right price, and is committed to continue running it if it does not get the right price, Agarwal told PTI on the sidelines of a company event.

Aluminium futures face resistance, potential correction ahead
Aluminium futures (May contract) on the Multi Commodity Exchange (MCX) hit a high of ₹244 last week. It then moderated and closed at ₹236.1 on Wednesday.

Aluminium industry requires additional capex of Rs 2.2 lakh cr to achieve net-zero emissions: Study

Copper futures: Retain the longs
Copper futures (May expiry) on the Multi Commodity Exchange (MCX) by closing at ₹858 last Friday, posted fifth straight weekly gains. The uptrend appears steady, and the contract could rise more before it takes a U-turn. From the current level, the contract could touch ₹880. Note that ₹886 is the all-time high for copper futures in the domestic market which was made in March 2022. So, there is a good chance for participants to book some profits between ₹880 and ₹886, which can lead to a correction in price.

Vedanta profit declines 27% to Rs 1,369 crore

Vedanta presents aluminium range for auto industry at AutoEdge 2024 conclave

Aluminium futures: Uptrend steady, hold the longs
Aluminium futures on the Multi Commodity Exchange (MCX) remained steady over the past week. As the April futures are nearing expiry, we consider the May contract for analysis and trade recommendation. The May aluminium futures hit a high of ₹244 early this week. But then the contract moderated and it closed at ₹236.8 on Wednesday. The broader trend remains up. From the current level, the nearest support is at ₹228, where the 20-day moving average lies. Below this, aluminium futures can find support at ₹224. Subsequent support is the 50-day moving average at ₹215.

Vedanta takes ₹746 crore impairment for Sterlite Copper's Thoothukudi plant
Mumbai: Vedanta Ltd has taken a final charge on its books on account of its shut Sterlite Copper plant and is exploring options to utilize the plant’s assets at its other locations after the Supreme Court dismissed the company’s special leave petition (SLP) to reopen the unit.

Vedanta Resources unlikely to dispose of majority stake in Konkola Copper Mines
With Vedanta Resources (VRL) unwilling to lose its majority stake in Zambia-based Konkola Copper Mines (KCM), plans of UAE-based International Resources Holdings (IRH) to buy a 51% stake in KCM may not materialise. Besides, the company helmed by Anil Agarwal could be reluctant to let go of its majority stake in KCM, as the latter’s operational visibility is improving, according to a report by CreditSights.

Vedanta Resources eyes various fundraise options for Zambia copper mine

“We can confirm that Standard Chartered Bank is assisting Vedanta in its broader strategy to manage its capital structure and ensure the company has the funds to meet its obligations and continue its operations again. It is common practice for large corporations to engage with financial institutions for such purposes,” said a Vedanta spokesperson.

Copper: Uptrend intact. Take fresh longs
The surge in the Copper price continues. A couple of weeks ago, we had expected the Copper Futures contract on the Multi Commodity Exchange (MCX) to rise to ₹840 per kg. This rise has happened. The MCX Copper Futures contract is currently trading at ₹846 per kg.

Earth Day: Vedanta Aluminium accelerates shift to renewables, deploys biomass for power generation

Copper wiring is key to prevent electrical fires
With increasing urbanisation, the spectre of electrical fires looms large, posing a grave threat to public safety. During July to December 2023, 112 fire incidents were reported across India, resulting in 131 fatalities and 164 injuries, according to Building Safety Fire Tracker by the International Copper Association India.

Aluminium futures can rise further
Aluminium futures on the Multi Commodity Exchange (MCX) have been on a rally since early March. It rebounded on the back of the support at ₹200. Last week, the contract broke out of the resistance at ₹226. Early this week, aluminium futures hit a record high of ₹238.15 and the price action indicates that further rally is possible. The nearest notable support from the current level is the price band between ₹250 and ₹255. A breakout of ₹255 can lift aluminium futures to ₹275.

Copper likely to gain more on China’s output cut, rising demand
Copper prices will likely gain further in 2024 on fears of production cuts in China and increasing demand, particularly for green energy transition, after having gained about 10 per cent since the beginning of 2024. They are currently ruling at highs not seen since June 2022. 

Vedanta to raise $470 million from Power Finance Corp for energy business
Mumbai: Vedanta Ltd is set to raise ₹3,900-4,000 crore from Power Finance Corp. Ltd to boost its power generation capacity, signalling the group may be winning back the trust of large domestic lenders.

Aluminium futures testing a key barrier
Aluminium futures on the Multi Commodity Exchange (MCX) has been witnessing a rally for the last three weeks. It had found support at around ₹195 and rebounded. The contract then broke out of the resistance at ₹210 and rallied. However, over the past few sessions, the contract has been flat. The contract is facing a resistance at ₹226. Due to this, we might see a price correction, possibly to ₹215-210 price band. A fall below ₹210 can turn the near-term outlook weak.

Vedanta hits 52-week high on positive outlook

The bullish verdicts also continue to be driven by the company’s prioritization of deleveraging its balance sheet, planned capital expenditure and benefit arising from commodity upcycle.

Craftsman Automation plans to set up greenfield plant in Bhiwadi

MCX-Copper: Corrective fall is possible. Wait for dips to go long
Copper price has surged last week. We had expected a rise to ₹780 per kg and an extended rise to ₹800-810 in this column last week. As it turned out, the Copper futures contract on the Multi Commodity Exchange touched a high of ₹804 per kg and has come down from there. It is currently trading at ₹800 per kg.

Vedanta Aluminium expands alumina refining capacity
 

Vedanta’s Hebbar chosen as WEF’s Young Leader
Priya Agarwal Hebbar, chairperson, Hindustan Zinc, and non-executive director, Vedanta Limited, has been selected as one of the five Indians to join the prestigious Young Global Leaders Class of 2024 by the World Economic Forum – a group of nearly 90 changemakers who are shaping the future and accelerating positive change through their ground-breaking work.

Vedanta's aluminium output rises 4% in Q4
Diversified natural resources firm Vedanta Ltd on Thursday said its total aluminium production increased 4% to 5,98,000 tonne in the fourth quarter of FY24, over the year-ago period. The company's aluminium production was 5,74,000 tonne in the corresponding quarter of FY23, Vedanta said in a filing to BSE.

Vedanta Q4 output: Aluminium production up 4%, iron-ore sees double-digit jump
Mining major, Vedanta reported a 4% jump in its total aluminum production for the fourth quarter of FY24 i to 598,000 tonnes from  574,000 tonnes produced in the same quarter last fiscal. The company highlighted an 18 per cent increase in alumina production at its Lanjigarh refinery unit in Odisha, reaching 448,000 tonnes as a result of improved operational performance.

Aluminium futures break out, buy on a dip
Aluminium futures on the Multi Commodity Exchange (MCX) began its latest leg of rally in early March, after finding support at ₹200. The contract gained enough momentum and consequently, it broke out of the resistance at ₹210 this week. It closed at ₹218.75 on Wednesday.

India records robust growth in mineral production for 2023-24

Copper nears 2-week high on strong demand outlook

Mining Sector witnessed record production in FY24: Govt

Vedanta Aluminium expands alumina refining capacity to 3.5 million tonnes