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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Five years after buying ESL Steel for what seemed like a bargain, the Vedanta founder is in a hurry to sell the company. Except, he hasn’t had much luck with finding a buyer.
When it comes to deal-making, Anil Agarwal has rarely put a foot wrong. Since 2001, when he turned heads with his acquisition of government-owned BALCO, the entrepreneur has built his Vedanta Ltd into a mining and metals conglomerate—one deal at a time. These include the acquisitions of Hindustan Zinc, Sesa Goa and Cairn India, as well as a host of mining assets in Africa.
Among the last of his big deals was the Electrosteel Steels Ltd buyout in June 2018, which propelled Vedanta into the steel industry. The commodity trader-turned-mining mogul paid Rs 5,320 crore for the acquisition, seeing off …
After a strong listing, Vedanta Aluminium Metal is running into some headwinds. Aluminium prices are easing, but the sharper challenge is rising competition from Kumar Mangalam Birla and Gautam Adani.
The country’s woefully inadequate efforts to reduce its reliance on lithium imports could spoil its EV party.
The JSW Steel founder is embarking on an unprecedented expansion, betting on Japan’s JFE and Korea’s POSCO to share the load. But rivalries, debt and market risks could complicate the plan.
