The Supreme Court on Monday dismissed Vedanta s plea to direct the Centre to divest its 29.54% residual stake in Hindustan Zinc (HZL) in the open market, saying it cannot interfere with a "policy decision". A Bench led by Chief Justice DY Chandrachud, while rejecting Vedanta s application, said the company giving up on its call option was not conditional on the government having agreed to sell its stake in the open market.
IDFC First Bank Ltd and IDFC Limited have received board approvals for the proposed merger. This comes days after HDFC merged with HDFC Bank in a $40-billion deal, the largest in India's corporate history.
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Vedanta Resources said it clocked record revenue (before special items) for the year at $ 18.1 billion against $17.6 billion in FY22, up 3 per cent YoY. This was primarily driven by higher volumes at Copper and Zinc and strategic hedging gains.
In a major setback to mining mogul Anil Agarwal s chip-making venture, the government of India may block crucial funding to the venture to Vedanta Resources Ltd and Taiwan’s Hon Hai Precision Industry Co., the Bloomberg News reported quoting people familiar with the matter. aaa