Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
Power Minister Piyush Goyal is keen to revive the energy sector.
Power Minister Piyush Goyal is keen to revive the energy sector.
Promising to make doing business more attractive, Union Minister Piyush Goyal has assured investors that they can work in India without fear or favour.
Adopting villages for electrification and introducing corporate-style induction programmes in ministries were some of the ideas thrown up when Power and Coal Minister Piyush Goyal got celebrity author Chetan Bhagat to speak to his staff.
The Supreme Court order on what to do with the coal blocks allotted to power companies between 1993 and 2013, which it has already termed illegal, is likely on Tuesday.
It includes a session with Gadkari on analysing the initiatives needed to bridge the $1 trillion infrastructure deficit in the country.
Prime Minister Narendra Modi to include only those who perform well as parliamentarians.
Prabhu-led advisory group also suggests JVs with mining and infra firms.
Prime Minister Narendra Modi who inducted 19 new ministers into his Cabinet on Tuesday has carried out major changes in the portfolios of his top ministers.
Labour unions, with a history of hostility towards management, are pushing back on Coal India's plans, fearing modernization and outsourcing will hit jobs.
Piyush Goyal is leading a delegation to deliberate with Australia.
Sebi might come out with a regulatory framework for issuance of 'green' bonds
Two technocrats, two hard-boiled politicians are India's new Cabinet ministers...
Friendlier government policies, greater demand and better supply of coal have fuelled investor interest.
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