Balco begins process to shut rolling biz; to cut 1,000 jobs

Last Updated: Monday, September 14, 2015, 15:12

Balco, part of Anil Agarwal-led Vedanta Ltd, on Monday said it has started the procedure to shut down its aluminium rolling business in Chhattisgarh - a move that will see 1,000 people losing jobs.

Cancelled JSPL, Balco mines given to Coal India

Last Updated: Monday, March 23, 2015, 15:35

The government on Monday is believed to have alloted the three cancelled coal blocks, for which JSPL and Balco had emerged as the highest bidders in the recently concluded auctions, to state-owned miner CIL.

BALCO gets nod for 1,200 MW power plant in Chhattisgarh

Last Updated: Friday, January 16, 2015, 17:52

BALCO is a subsidiary of Vedanta group's Sesa Sterlite.

Vedanta chief Agarwal expects to buy HZL, BALCO stakes soon

Last Updated: Wednesday, January 14, 2015, 17:03

Banking on Modi government's determination to go ahead with disinvestment drive, Vedanta Resources chief Anil Agarwal said the company expects to pick up residual stakes in Hindustan Zinc and BALCO at "market driven value" soon.

Residual stake sale in Hindustan Zinc, Balco unlikely this fiscal

Last Updated: Wednesday, December 17, 2014, 15:02

The government is unlikely to sell its residual stake in Hindustan Zinc and Balco in the current fiscal as it looks at ONGC and Coal India disinvestments to meet the current year's target.

Govt likely to divest remaining Balco shares via auction route

Last Updated: Wednesday, January 8, 2014, 21:49

The government is likely to sell its remaining stake in aluminium major Balco through auction route following Law Ministry's opinion that "there appears no constitutional or legal issue involved" in selling shares of the company via offer for sale (OFS) method.

Vedanta gets shareholders' nod to raise offers for HZL, Balco

Last Updated: Wednesday, October 30, 2013, 22:49

Shareholders of mining conglomerate Vedanta Resources on Wednesday approved proposals to empower the company to raise offers for acquiring remaining government stake in Hindustan Zinc and Balco by up to 43 percent or up to Rs 24,663 crore.

'No new offers yet from Vedanta on HZL, Balco sale'

Last Updated: Monday, October 28, 2013, 23:36

The government holds 29.5 percent stake in Hindustan Zinc Ltd (HZL) and 49 percent stake in Balco. Majority stake in the two erstwhile PSUs was sold to Vedanta group during 2001-2003.

Vedanta seeks blessing for $3.5 bn India buyout offers

Last Updated: Wednesday, October 16, 2013, 18:26

Mining group Vedanta has asked shareholders to renew their backing for an offer of up to USD 3.48 billion to buy government minority stakes in two of its subsidiaries, as it seeks to streamline its structure.

Vedanta to hike offer to $4 bn for more stakes in Balco, HZL

Last Updated: Tuesday, October 15, 2013, 23:50

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 USD 4 billion (more than Rs 24,800 crore), 43 percent higher than its last year's proposal.

Yet to hear from govt on HZL, Balco stake sale: Vedanta

Last Updated: Wednesday, October 9, 2013, 18:53

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 Wednesday.

'Open to all routes for buying remaining stakes in HZL, Balco'

Last Updated: Wednesday, September 25, 2013, 19:06

Vedanta group is open to any method for acquiring remaining stakes in Hindustan Zinc and Balco and would participate in the auction if the government takes that route to divest its residual stakes in the two erstwhile PSUs, a top official of the mining major has said.