STERLITE CASE
Nokia, Sterlite Technologies collaborate to enhance digital solutions for govt, enterprises
The partnership will also focus on government-driven connectivity projects to offer connectivity and networking solutions, Noika said in a statement. "The collaboration will accelerate the Industry 4.0 revolution. By leveraging these solutions, businesses can gain a competitive edge and drive transformation with disruptive technologies," the statement said.
Setback for Vedanta: SC says Sterlite Copper's Tuticorin plan to remain shut due to 'repeated violations'
The Supreme Court upheld the closure of Vedanta's Sterlite Copper Tuticorin plant, dismissing the appeal to reopen it. The court cited repeated violations justifying the closure and emphasized the need for clarity in specifying violations. The plant faced closure in 2018 following protests against pollution, leading to casualties. Vedanta's appeal to reopen was previously allowed under local-level monitoring committee supervision.
No SC greenlight for Vedanta's Tuticorin plant yet; expert panel likely to be set up to explore reopening of plant
The Supreme Court has proposed a bipartisan expert committee to investigate the reopening of Vedanta's Sterlite copper plant in Tuticorin, Tamil Nadu. The committee could consider compensation for non-compliance, but the Tamil Nadu government and others argue that certain things cannot be compensated. The court emphasized that India should not lose an asset but also put Vedanta under terms. The plant has remained shut since mid-2018 due to protests over pollution.
6 midcap stocks that have beaten volatile markets can rise up to 38%
After two weeks of straight up move, nifty witnessed a small phase of volatility but the bias of that volatility was still bullish, clearly indicating that the equation is still in favor of bulls. From an optical fiber maker which has been an improvement after a very long time to mid-cap software companies where results were better than expected have seen both an improvement in the score and with their price moving upward. ET screener powered by Refinitiv’s Stock Report Plus applies different algorithms & filters to all BSE and NSE stocks, and lists stocks which fulfill the various criteria as specified into the algorithms & filters to find those which might help navigate the stock market.
GoI, Vedanta likely to discuss Balco IPO
The government wants Vedanta to list Balco (formerly Bharat Aluminium Co) so that it can offload a part of its stake through the initial public offer (IPO) route before exiting the company fully in due course, said the persons cited above.
Sterlite copper unit: SC directs Tamil Nadu to take decisions by June 1 in pursuance of its April 10 order
It had noted the District Collector had not recommended activities like undertaking civil and structural safety integrity assessment study in the plant premises, removal and transportation of spares and equipment and evacuation of in-process reverts and other raw material lying idle.
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How taxability of corporate guarantee is a battle half won
Corporate guarantee within the group companies is a kind of arrangement where the parent company agrees to act as a guarantor for its subsidiary company or group entity while securing loans/finance/ debts from a financial entity or institution.
Stock picks of the week: 4 stocks with consistent score improvement and upside potential of up to 33%
All thanks to the disappointing Infy Q4 results, last week bears once again made a comeback on the street. Even during this period, there are still some pockets where stocks have seen an improvement in their analyst scores. The selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Vedanta may have a fair chance to run Sterlite plant again: Sunil Duggal, Group CEO, Vedanta Limited
On Vedanta Zinc International, we believe that this year our production will be up by around 50% compared to last year. This company has reserves that are more than Hindustan Zinc today, asserted Sunil Duggal, Group CEO, Vedanta Limited.
Stocks in the news: Amara Raja, Voda Idea, Mahindra Logistics, BSE and Embassy Office Parks
Battery firm Amara Raja Batteries has proposed a transaction to integrate the battery plastic component business of Mangal Industries into its fold through a scheme of arrangement.
At least 1% of IT workers have a side hustle: experts
According to IT industry lobby group Nasscom, IT companies in India employ about 5 million people.
CLSA spots 4 winning bets in the race to 5G FWA
The brokerage derived its target price on the company by applying a 15x PE multiple to the Mar-24CL earnings estimate, a 16 per cent discount to the five-year average multiple. However, the brokerage sees delays in project execution, and lower-than-expected order book inflows could pose risks to estimates.
Sterlite Power to enter India's renewables business, cater to industrial clients
This week the company's Mumbai Urja Marg Transmission Limited (MUML), successfully commissioned 400kV Banaskantha, Kansari and Vadavi Transmission lines in Gujarat. Pratik Agarwal, Managing Director, Sterlite Power tells Kalpana Pathak the company is evaluating plans of building a sustainable energy platform.
Bombay High Court quashes 13-year-old Enforcement Directorate order against Sterlite Industries
The RBI considered the submissions of the company and passed five separate compounding orders, directing the company to deposit Rs 25 lakh and its officers Rs 10 lakh each. The said money was deposited as compounding charges by the company and its management.
STL eyes 20% biz growth in key markets in FY23 on 5G, digital network build outs
On the business side, the company is seeing a positive momentum as markets like the US, Europe and India create mega networks of future, and build 5G infrastructure.
No further probe into HFCL facilities, court seeks response on STL's plea
Following the inspection of HFCL's Hyderabad's manufacturing unit last week by court-appointed officials, the Pune-based STL Tuesday sought further probe into the HFCL's production facilities based in Goa and Chennai for verification and evidence collection related to alleged patent infringement.
HFCL terms Sterlite's patent infringement claims baseless
The Delhi High Court had on January 12 restrained HFCL and its subsidiaries from manufacturing and selling optic fibre cables, which Sterlite Technologies claimed were based on its multi-tube technology.
STL claims patent infringement, HFCL to take legal recourse as court bars manufacturing, sales of multitube cable
On Wednesday, the court-appointed commissioners physically visited HFCL premises to verify the extent of the alleged infringement and for appropriate action, and according to STL, the officials have taken samples of the controversial optical fibre cables for its submission before the court.
7 top stock picks for 2022 from Jigar Shah
"Our key themes and stock picks for 2022 are software services, telecom and tractors."
SC asks CBI to probe 2002 sale of HZL shares to Sterlite
Sterlite Opportunities and Ventures (SOVL) had acquired the 26% stake in April 2002 for Rs 445 crore.
Rise in import of copper in recent times great concern for govt: V K Saraswat
India's copper import, which increased 26 per cent to 60,766 tonnes in the June quarter of 2021-22, is expected to rise further in the remaining part of the financial year, with economic activity witnessing a strong recovery from COVID-related restrictions, International Copper Association had earlier said.
Twin blows land on Vedanta, stock plunge 12%
Shares of Vedanta, which climbed to a 52-week high of Rs 341.25 on Monday, closed at Rs 302.65, down 10 per cent.
Open RAN is the future of mobile networks. Here's why
Traditional radio access networks, also called RANs, with proprietary technology in the hands of a few global equipment makers may be a thing of the past. Open RAN is seen to be the future telecom backbone.
Listing gains not enough; quick buck hunters hit unlisted market
Investors are rushing to the unofficial market for unlisted shares to try and buy shares of the companies that are in the queue to float their primary issues. The idea is to catch potential multibaggers early at 'cheaper' valuations.
Sterlite Copper focused on ramping up facilities to produce medical oxygen
The facility in Tuticorin, about 600 kms from here, was accorded approval to produce medical oxygen for four months by the former AIADMK government on April 26.
Tamil Nadu govt orders withdrawal of cases against party leaders over anti-Sterlite protests
As many as 38 cases, involving 13 leaders including DMK's Anita R Radhakrishnan, now Fisheries Minister and party's Tuticorin south district secretary were ordered to be withdrawn by Stalin, an official release here said.
Sterlite Copper plant in Tamil Nadu resumes oxygen production
"The oxygen generated is being stored at our on-site facilities and will be distributed as per the directions of the state government and concerned nodal officers." The company had roped in experts from the Indian Space Research Organisation to rectify the glitch.
Punjab, Kerala, Karnataka, Andhra Pradesh impose stricter curbs amid Covid surge: Key points
In the seven days between April 18 and April 25, India reported 22.49 lakh cases, which is the highest number of cases reported by any country in any seven-day period since the beginning of the pandemic.
Vedanta ramps up oxygen supplies amid surge in COVID-19 cases
Sterlite Copper, which has one of the largest oxygen facilities in the country at Tuticorin, has reached out to the Tamil Nadu government and Union Health Minister Harsh Vardhan with its offer to help, seeking approval to operate its 1,000 tonnes per day oxygen plant to meet the rising demand, the statement said.
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