Sterlite Industries

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.

Vedanta group firm Sterlite Industries Tuesday said it will approach the Tamil Nadu government for necessary approvals for restarting its copper unit in Tuticorin, hours after the Supreme Court paved the way for its reopening by declining to stay a green tribunal order.

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...

"The demerger scheme was earlier approved by the High Court of Mumbai on April 22, 2016, post approval by all relevant stakeholders of Sterlite Tech on December 15, 2015," Sterlite Technologies said .

Mining firm Sesa Sterlite said it aims to achieve its target of 5.5 million tonnes (MT) iron ore exports by March next year.

State-run PowerGrid, Sterlite, Essel and Adani are in the fray for two power transmission projects worth Rs 8,100 crore as they have submitted their financial bids.

Sesa and other companies in Goa, however, are unlikely to be able to make any significant export as low world prices have made low-quality ore from India uncompetitive.

With the withdrawal of the suspension order, the Goa government said the mining industry will resume operations immediately.

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.

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.

The government on Sunday received 130 preliminary bids from companies like Essar Power, Hindalco, Adani Power and Jindal Power for 21 coal blocks on offer in the second tranche of an ongoing coal auction.

The Nifty opened higher on Monday though lower Chinese markets are likely to weigh on sentiments. Foreign investors were net buyers to the tune of Rs 1,100 crore on Friday. However, domestic investors were net sellers to the tune of Rs 717 crore.

Optical fibre maker Sterlite Technologies is transferring its retail internet business to Spectranet but will continue with its core business of laying cables for telecom services.

Sentiment also turned positive as foreign investors were net buyers of Indian equities on Friday after twelve consecutive days of selling.

Sesa Sterlite gained 3.2 per cent on Friday, while Hindalco Industries surged 2.7 per cent and CESC 1 per cent.

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.

Vedanta group firm Sterlite Industries Tuesday said it will approach the Tamil Nadu government for necessary approvals for restarting its copper unit in Tuticorin, hours after the Supreme Court paved the way for its reopening by declining to stay a green tribunal order.

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...

"The demerger scheme was earlier approved by the High Court of Mumbai on April 22, 2016, post approval by all relevant stakeholders of Sterlite Tech on December 15, 2015," Sterlite Technologies said .

Mining firm Sesa Sterlite said it aims to achieve its target of 5.5 million tonnes (MT) iron ore exports by March next year.

State-run PowerGrid, Sterlite, Essel and Adani are in the fray for two power transmission projects worth Rs 8,100 crore as they have submitted their financial bids.

Sesa and other companies in Goa, however, are unlikely to be able to make any significant export as low world prices have made low-quality ore from India uncompetitive.

With the withdrawal of the suspension order, the Goa government said the mining industry will resume operations immediately.

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.

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.

The government on Sunday received 130 preliminary bids from companies like Essar Power, Hindalco, Adani Power and Jindal Power for 21 coal blocks on offer in the second tranche of an ongoing coal auction.

The Nifty opened higher on Monday though lower Chinese markets are likely to weigh on sentiments. Foreign investors were net buyers to the tune of Rs 1,100 crore on Friday. However, domestic investors were net sellers to the tune of Rs 717 crore.

Optical fibre maker Sterlite Technologies is transferring its retail internet business to Spectranet but will continue with its core business of laying cables for telecom services.

Sentiment also turned positive as foreign investors were net buyers of Indian equities on Friday after twelve consecutive days of selling.

Sesa Sterlite gained 3.2 per cent on Friday, while Hindalco Industries surged 2.7 per cent and CESC 1 per cent.