Vedanta shares in focus—here's what is keeping the investors keen

Vedanta share price today: Anil Agarwal-led Vedanta shares remained in focus on Tuesday, April 16 after the Mining conglomerate secured an 11-year term loan of Rs 3,918 crore from Power Finance Corporation Ltd (PFC). The financial closure will enable Vedanta to expedite the completion of its power projects. The group plans to increase the operating capacity of its power business in India to 4.8 GW by FY27, a PTI report said. Read more 

Shares of mining major Vedanta on Tuesday, April 16 traded in red, extending the declining trend for the second trading session amid weakness in D-Street. The stock declined nearly two per cent to the day's low of Rs 364.05 on NSE in early morning deals. 

In another development, Vedanta has asked JPMorgan Chase & Co to assist it in raising up to Rs 2,500 crore via bonds. According to a PTI report, the firm has requested the financial institution to help it raise between Rs 2,000 crore and Rs 2,500 crore through bonds.

When contacted, a Vedanta spokesperson said that as part of routine capital management, Vedanta continues to exercise refinancing and capital raising activities from diverse sources to improve the debt and cash profile, both in terms of counterparties as well as lowering interest costs. Read more 

What does Vedanta do?

Vedanta Ltd, a subsidiary of Vedanta Resources Limited, is one of the world's leading natural resources companies with operations spanning across India, South Africa, Namibia, Liberia, UAE, Korea, Taiwan and Japan.

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