Mining Sector

In February, Coal India formed a joint venture with Bharat Heavy Electricals Ltd (BHEL) to develop a coal-to-chemicals company.

In August 2022, the London-based mining conglomerate paid ₹565 Crore for Athena Chhattisgarh Power Ltd to cover its captive power demand.

Previously, CreditSights stated that the planned demerger of its other businesses might attract significant opposition from minority shareholders.

CIL had submitted that all outstanding unpaid dividends of ₹666.53 Crore to CUHL's account had been paid to the Income Tax Department on June 19, 2017.

Recommendation: Buy; Target price: ₹496

Late last month, the board of Hindustan Zinc instructed the corporation to investigate a corporate restructure that would separate the lead and zinc, silver, and recycling businesses into three distinct organizations.

The company's allocation of debt among these new entities will be scrutinized in particular.

The stated aim is to unlock value vs the existing consolidated entity as it aligns management, strategies and capital structure to meet the specific needs of each business.

Vedanta's bid to acquire Meenakshi Energy was for Rs 1,440 crore

The company targets the acquisition of lithium, cobalt, and nickel assets abroad.