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Hindustan Zinc reported a strong quarter. In an interview to CNBC-TV18, Sunil Duggal, CEO of Hindustan Zinc spoke about the results and his outlook for the company.
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Hindustan Zinc surges in trade on the back of an overnight rally in metal prices. In an interview to CNBC-TV18, Sunil Duggal, MD & CEO of Hindustan Zinc spoke about the latest happenings in his company and sector.
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Anil Agarwal, Founder & Chairman of Vedanta Resources says that government thrust can change the scenario of exploration of natural resources India. Talking about the company, he says they are focused and ready to expand capacity of zinc to 1.5 million tonnes and silver to 1,000 tonnes.
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In an interview to CNBC-TV18, Sunil Duggal, CEO of Hindustan Zinc spoke about the results and his outlook for the company.
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Even after paying this dividend of Rs 14,000 crore odd, you can see that the cash balance at the end of the year would be around Rs 15,000 crore, said Sunil Duggal, CEO, Hindustan Zinc
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Keen on the Indian growth story, Anil Agarwal, Chairman of Vedanta said that he wants to meet the country's growing demand and aims to produce 50 percent of India's oil needs.
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When the government is ready to sell Hindustan Zinc and Balco stakes, Vedanta Group will want to buy it, says Chairman Anil Agarwal in a candid Diwali special interview to CNBC-TV18.
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Normally Hindustan Zinc spends USD 200-225 million on mining expansion every year. But according to Duggal, the spending may rise to USD 300-320 million.
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Vedanta wants to create one major behemoth that deals with the entire commodity complex, just as BHP Billiton and Anglo American, says the group's Chairman Anil Agarwal.
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Hindustan Zinc will focus on increasing recoveries from silver as well as Zinc mines, says Sunil Duggal, CEO and Wholetime Director of the company.
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Vedanta Group Chairman Anil Agarwal says China is dumping aluminium into India, and that the government needs to intervene to protect Indian metal companies from the indiscriminate dumping by Chinese companies.
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Anil Agarwal, founder and chairman, Vedanta, expects to complete the Cairn-Vedanta merger in the coming months and does not think there is any need to sweeten the merger contours of the deal
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Hindustan Zinc Limited is on track to achieve volume guidance that it had outlined last year, which is 900-950 kiloton, CEO Sunil Duggal told CNBC-TV18.
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Cairn's onshore oil assets are the best in class and from that perspective, it is a disappointment for its shareholders. But with this deal, Vedanta will get access to cash generating assets of Cairn, which will help repair its balancesheet, says Piyush Jain of Morningstar Investment Advisers
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Vedanta will have a direct access to all these subsidiaries-like Hindustan Zinc and Cairn post the merger, Piyush Jain, Equity Research Analyst - Energy, Industrials and Utilities, Morningstar told CNBC-TV18.
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Chintan Mehta of Sunidhi Securities says a merger will be beneficial for Vedanta. The merger timing is right for Vedanta as the share prices of both the companies are almost the same.
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Hindustan Zinc is set to invest Rs 8,000 crore in Rajasthan over the next three years. A subsidiary of Vedanta Resources, HZL, will invest Rs 6,600 crore in mining and Rs 1,400 crore in Greenfield fertiliser plant. The company has close to Rs 30,000 crore cash in books.
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Tom Albanese, chief executive officer, Sesa Sterlite, says he expects iron ore mining to start sooner in Karnataka than in Goa.
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Anil Agarwal, group chairman, Vedanta Resources told CNBC-TV18‘s Menaka Doshi that the company wants to create an Indian natural resources giant, which can compete with the likes of Rio Tinto.
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Although uncertainty looms in coal sector post deallocations, Tom Albanese, CEO, Sesa Sterlite is encouraged by government's prompt moves on coal block auctions and sees opportunities for demand growth in India, as global oil environment has been incredibly dynamic lately.
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Tom Albanese, MD & CEO, Vedanta said the company would be very happy to participate in the auction process in case the government decides to sell its residual stake in Hindustan Zinc and Hindalco via auction.
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From a profitability perspective, we expect the government to garner around USD 200-250 million, Ritesh Shah, Espirito Santo Securities said.
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SP Tulsian of sptulsian.com says,†I think the government will now be happy to expedite the process of divesting their residual stake in HZL as well as in Balco.â€
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Divestment secretary DK Mittal says NTPC issue is likely in second half of January or early February. He also expects Oil India issue in first half of January. "Oil India issue is likely before NTPC," he adds.
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Vedanta Resources has offered to pay Rs 16,000 crore to purchase the stake of the government in Hindustan Zinc (HZL) and Bharat Aluminium Company (BALCO). This valuation has been arrived at based on the January market price.
