The group’s flagship Peerless General Finance & Investment Company (PGFI) obtained the license of a Non-Banking Financial Company – Investment and Credit Company (NBFC-ICC) from the Reserve Bank of India during the year.
The most exciting announcement comes from the group’s real estate arm in the form of a 15-floor twin-tower retail-commercial-residential project scheduled to come up over 2.37 acres near the Biswa Bangla Gate in Action Area II in New Town in Calcutta
On June 30, mining and metals giant Vedanta, announced that it had decided to initiate a strategic review of its steel and steel-making raw material businesses.
The review would begin immediately and evaluate a broad range of options, including but not limited to a potential strategic sale of some or all of the steel businesses, the company said in its stock exchange filing.
The signs have been there - approaches had been made to steel players over the past year. Last December, Anil Agarwal, chairman Vedanta group, told Business Standard that the steel plant capacity was about 3 million tonnes (mt).