by Amruth Sundarkumar | May 11, 2022 | Corporates, India
Indian metals & mining giant Vedanta Ltd. will apply to withdraw the arbitration on buying the Government of India’s stake in Hindustan Zinc which was filed in 2009. Hindustan Zinc’s promotor is Vedanta, which holds 64.92% and the Government of India has a...
by Amruth Sundarkumar | May 10, 2022 | India
Indian steel, energy, and cement conglomerate JSW Group will make a $7bn bid for Swiss-based global cement maker Holcim AG’s Indian units, namely, Ambuja Cements Ltd and ACC Ltd through a share acquisition. JSW will offer $4.5bn in its own equity and source the...
by Amruth Sundarkumar | May 9, 2022 | Corporates, India
Indian conglomerate Reliance Industries Ltd (RIL) reported a consolidated net profit of INR 180.21bn ($2.4bn) in Q1 2022, 20.2% higher than the previous year, on strong operating performance and lower finance costs. Gross revenues for the quarter were at INR 232.5bn...
by Amruth Sundarkumar | May 5, 2022 | Banks, India
India’s state-owned lender State Bank Of India (SBI) plans to raise $2bn by issuing long-term offshore bonds in the current financial year 2022-23. The bond issuance could be under a single deal or multiple tranches through a public offer or private placement of...
by Amruth Sundarkumar | May 4, 2022 | Corporates, India
Vedanta Resources announced a tender offer for its $1bn 6.375% bond due July 2022. The bond’s price jumped over 1.5 cents on the dollar to 99.96. The offer is capped at $500mn. Investors who tender their bonds by the early deadline of May 11 will receive par...
by Amruth Sundarkumar | May 4, 2022 | Corporates, India
Indian global company Tata Steel reported a 37% YoY increase in consolidated net profits to INR 98.35bn ($1.3bn) during its quarter ending March 2022. Total revenue from operations rose to INR 693.24bn ($9.1bn), up 39% YoY, driven by higher prices in Europe and higher...
