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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.
So far it seems unlikely that the billionaire’s two children are interested in the business. The lack of a clear succession plan brings even greater urgency to Vedanta’s restructuring exercise.
Vedanta’s Anil Agarwal is one of India’s most successful businessmen. He will turn 70 in January, but remains a wily operator.
“What one is nearly sure of is if Agarwal announces something, he may most probably do the opposite,” says a veteran investor in the stock market, who requested not to be named.
Consider the current situation: His oil-to-metals conglomerate Vedanta Resources needs to repay $2.1 billion this financial year and another $3.8 billion the next fiscal. The deadlines won’t be easy to meet as many of his businesses are facing headwinds. To this end, Agarwal recently announced a major …
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.
Record earnings and a cleaner balance sheet offer relief, but muted production growth, delayed projects and a heavy reliance on favourable commodity cycles could weigh on the newly demerged entities of Anil Agarwal’s mining-to-metals group.
Despite a higher offer, creditors chose Gautam Adani’s Adani Enterprises—setting up a courtroom fight that raises questions over the bankruptcy resolution process’s priorities.
