Sterlite

  • Sensex surges nearly 257 points to end at 21,289.49 January 15, 2014

    Mumbai: All-round buying after wholesale inflation declined to a five-month low lifted the benchmark Sensex today by nearly 257 points to its highest level since December 9 on hopes the RBI will lower interest rate to boost economic growth. The NSE barometer Nifty also jumped over 79 points to reclaim the 6,300-point...
  • Sterlite unit starts functioning under expert panel's vigil June 17, 2013

    Tuticorin (TN): The Sterlite Copper Smelter unit here, which was shut down over two months ago, has resumed operations after the National Green Tribunal's expert panel gave a green signal, officials said on Monday. The panel members conducted its second phase of inspection yesterday and checked if the pollution monitoring equipment...
  • SC refuses to stay NGT order on restarting Sterlite unit June 10, 2013

    New Delhi: The Supreme Court on Monday refused to stay the National Green Tribunal (NGT) order allowing Sterlite Industries Ltd to recommence operation of its copper smelting plant in Tamil Nadu's Tuticorin district under the supervision of an expert committee. "It would be appropriate to wait for the judgement (of NGT)....
  • Sterlite smelter closure put cable makers in a tight spot May 22, 2013

    New Delhi: India's cable makers face a severe shortage of copper and potential manufacturing delays after the closure of the country's two biggest copper smelters, which has pushed up prices and led to a spike in imports. India's biggest smelter, owned by Sterlite Industries, was shut on March 30 after local...
  • Delhi: Court to resume Sterlite case hearing on May 22 May 16, 2013

    New Delhi: Sterlite Industries' copper smelter will remain shut until at least May 22 when a court will resume hearing into complaints of emissions from India's largest smelter. Justice Swatanter Kumar of the National Green Tribunal, a fast-track environmental court, asked the Tamil Nadu Pollution Control Board on Thursday to...
  • Sterlite Industries smelter to stay shut for now April 29, 2013

    New Delhi: Country's largest copper smelter will remain shut for now as a local environmental court transferred a case over its closure to New Delhi, extending a month-long closure at the facility that meets half of the country's copper demand. Sterlite Industries smelter was closed on March 30, putting about...
  • Panel to study status of Sterlite Industries' plant April 12, 2013

    Chennai: The National Green Tribunal on Friday said a four-member committee would be set up to study the current status of the controversial copper smelting plant of Sterlite Industries at Tuticorin. The committee, comprising two members from the Tribunal and one each from Sterlite Industries and Tamil Nadu Pollution Control...
  • TN: Strike to be held against Sterlite plant in Tuticorin April 6, 2013

    Chennai: A day-long general strike demanding permanent closure of the copper smelter plant of Sterlite Industries (India) Ltd will be held on Monday at Tuticorin, said MDMK party general secretary Vaiko on Saturday. The company is part of Britain-based Vedanta Resources Group. In a statement issued here, MDMK founder Vaiko said...
  • MDMK to challenge Supreme Court order against Sterlite April 2, 2013

    Chennai: The MDMK on Tuesday said it would challenge the Supreme Court's order asking Sterlite Industries, a subsidiary of UK-based Vedanta Group to pay Rs 100 crore as compensation for polluting the environment and vowed to continue its fight against restarting of operations. The apex court, while directing Sterlite to pay...
  • SC slaps Rs 100 crore fine on Sterlite Industries April 2, 2013

    New Delhi: The Supreme Court on Tuesday imposed a fine of Rs 100 crore on Sterlite Industries, part of Vedanta Resources, for polluting environment through its copper smelting plant in Tamil Nadu. However, the apex court refused to direct closure of the plant in Tuticorin. The company has to pay the...
  • Sterlite Industries' copper smelter shut on govt order April 1, 2013

    Chennai: Sterlite Industries (India) said on Monday that a copper smelter run by the company in Tamil Nadu has been closed after a preliminary inspection by state pollution regulator. The company will engage with Tamil Nadu Pollution Control Board to explain the factual position regarding emissions from the unit in Tuticorin,...
  • SC to decide pharma patent, take up marines case April 1, 2013

    New Delhi: The Supreme Court will pronounce an important judgment on Monday on a Swiss pharma firm's plea asserting its patent over a medicine, and Tuesday take up Sterlite's plea opposing the order to shut down its plant as well as the case of the Italian marines. In a judgment that...
  • Odisha government asks 36 steel companies to submit progress report March 12, 2013

    Bhubaneswar: Odisha government has asked 36 steel companies, including Posco-India and ArcelorMittal, which had signed MoUs to immediately submit their physical and financial progress reports, according to official sources. "The submission of the physical and financial progress report up to December 31, 2012 has been inordinately delayed, which has been viewed...
  • Morgan Stanley upgrades Sterlite to 'overweight' January 11, 2013

    Mumbai: Shares in Sterlite Industries (India) Ltd rose 2 per cent to 117.90 rupees after Morgan Stanley upgraded the stock to "overweight" from "neutral" and raised its target price to 142 rupees from 110.20 rupees. The investment bank said Sterlite shares have been "cheap for a while," and added group...
  • Sesa Goa shareholders approve merger with Sterlite June 25, 2012

    Shareholders of iron ore miner Sesa Goa have approved of the Sesa-Sterlite merger, against analysts expectation of some opposition. Shares of Sesa Goa reacted to this news and were up 1.26 per cent to Rs 188.25. On February 25, London Stock Exchange-listed Vedanta Resources (parent company of Sesa-Sterlite) had announced to...
  • Investors see risks to Vedanta shake-up plan February 28, 2012

    London: Investors welcomed London-listed miner Vedanta's plan to streamline its structure, improve access to cash and reduce debt, saying the pressure is now on the company to implement the plan after a similar exercise failed more than three years ago. Shares in the India-focused miner, boosted last week by hopes of...
  • Vedanta to merge Sesa Goa, Sterlite Industries February 26, 2012

    Mumbai: Vedanta Resources plans to simplify its structure by placing all but one of its subsidiaries under the umbrella of a single unit, to be named Sesa Sterlite, as part of efforts to cut costs, improve access to cash and reduce the India-focused miner's debt burden. FTSE-100 diversified miner Vedanta, which...
  • India Inc to conduct recruitment drive in Tihar February 3, 2011

    New Delhi: In a first, top executives of India Inc will conduct a recruitment drive in Tihar jail and pick 50 inmates to be employed in their business houses. The list - which includes big names like IDBI bank, Vedanata Group, Sterlite Foundation, Agarwal Packers, Jindal Steel and Flex shoes -...
  • Sterlite Industries wins reprieve till mid-Dec October 18, 2010

    New Delhi: Sterlite Industries on Monday won a reprieve till mid-December on closure of its copper smelting plant, with the Supreme Court asking the Centre, Tamil Nadu government and pollution control authorities to state why action was taken against the company. Hearing Sterlite's plea that Madras High...
  • Sterlite closes copper smelter on court order September 29, 2010

    New Delhi: Sterlite Industries has shut the world's No. 9 copper smelter on a court order over environmental issues, the latest blow to India projects for its parent Vedanta, whose shares fell nearly 5 per cent. The Tuticorin plant in south India produced over 334,000 tonnes of copper cathode in the...
  • HC asks Vedanta subsidiary to shut down plant September 29, 2010

    Chennai: The Madras High Court has ordered Sterlite Industries, the subsidiary of Vedanta Group, to close its copper smelter plant in Tuticorin in southern Tamil Nadu for violation of environmental laws. The court held that the facility should be closed because of its proximity to an ecologically fragile area and has...
  • US investors eye India’s plum ADRs November 21, 2006

    New York: American markets have been good to Indian companies this year. Analysts are of view that given India's steady GDP growth, Indian ADRs will continue to be attractive for the US investors. Exemplifying the claim is India based Sterlite Industries that recently filed for an Initial Public Offering (IPO)...