During Monday’s trading session, Vedanta’s share price fell by more than 1%, indicating the market’s weakness. The Indian stock market is under pressure due to continuous selling by foreign institutional investors and global worries caused by Trump tariffs. Experts believe the ‘Sell India, Buy China’ trend will continue long since Chinese equities remain tempting. On Friday, Vedanta announced it had been chosen as the preferred bidder for a diamond mine in Madhya Pradesh. The business announced that its final proposal is 1.10 percent, making it the top bidder for the Kauhari Diamond Block.
The G4 exploration stage represents the reconnaissance phase, which aims to identify potential mineral resources on a larger scale. This preliminary exploration phase includes organized geological mapping and aircraft geophysical investigations.
The government’s issuance of a composite license for the specified block will be contingent on the payment of a performance bank guarantee, the fulfillment of other requirements outlined in the tender document, the receipt of necessary approvals from various government agencies, and the execution of relevant agreements, the company stated. The Madhya Pradesh government invited bidders for an auction for the diamond block’s composite license. The business participated in the bidding procedure to assign the mine’s composite license.
Vedanta’s Q3 Results:
Due to increased sales, Vedanta reported a 76.2% increase in total net profit to ₹3,547 crore for the quarter ending December 31, 2024. Vedanta Ltd reported a profit of ₹2,013 crore for the same period last year in a BSE filing. The company’s consolidated income increased by 9.5% to ₹39,795 crore, compared to ₹36,320 crore in the same fiscal year quarter. Vedanta’s consolidated revenue for the third quarter was ₹38,526 crore, representing a 4% rise quarter-on-quarter and a 10% increase year-on-year, owing to favorable market pricing and increased premiums.
