Vedanta stock is highlighted by remarks from Anil Agarwal
Comments by Anil Agarwal regarding the sale of steel assets and Q2 output statistics.
Vedanta reported a 17% rise in global saleable steel production YoY.
In the September quarter, Vedanta's YOY climbed to 378 kt due to greater operational effectiveness.
Increased production capacity following debottlenecking in FY23
By March 2024, Vedanta plans to divest its steel asset.
According to Agarwal, the necessary funds will be available to pay back debts.
At 702 kt, the steel segment had its highest-ever total saleable production.
4% of the business's operating profit for the entire year comes from the steel division.
Refinancing and repayment options are available for outstanding debts, according to Agarwal.