logo
Baseless and malicious: Vedanta slams Viceroy report, says claims ‘meant to discredit' the group

Baseless and malicious: Vedanta slams Viceroy report, says claims ‘meant to discredit' the group

Economic Times09-07-2025
Vedanta alleges no prior contact by Viceroy before report release
Synopsis Vedanta Group has refuted the Viceroy Research report, labeling its claims as unfounded and deliberately malicious, designed to tarnish the Group's reputation. Vedanta asserts the report, released without any prior contact, aims to spread misinformation and capitalize on market reactions. The Group suspects the report's timing is intended to disrupt upcoming corporate endeavors. Vedanta Group on Wednesday dismissed the allegations made in the Viceroy Research report, calling them 'baseless' and 'malicious,' to discredit the Group.
ADVERTISEMENT Following the short-seller's report, Vedanta issued a statement to the stock exchanges, alleging that the report was published without any attempt to contact the company and with the sole objective of creating false propaganda.The Viceroy research group report on Vedanta – Limited Resources, published on 09 July 2025, is a malicious combination of selective misinformation and baseless allegations to discredit the Group. It has been issued without making any attempt to contact us with the sole objective creating false propaganda. It only contains compilation of various information - which is already in the public domain, but the authors have tried to sensationalise the context to profiteer from market reaction.
The timing of the report is suspect and could be to undermine the forthcoming corporate initiatives. Our stakeholders are discerning enough to understand such tactics. In fact, to avoid any responsibility – authors of the report have added various disclaimers that the report has been prepared for educational purposes only and expresses their opinions and are not statements of fact (page 7). We remain focused on the business and growth, and request everyone to avoid speculation and unsubstantiated allegations.More to come...
ADVERTISEMENT
(You can now subscribe to our ETMarkets WhatsApp channel)
Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share
Nikita Papers IPO opens on May 27, price band set at Rs 95-104 per share Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained
Why gold prices could surpass $4,000: JP Morgan's bullish outlook explained Cyient shares fall over 9% after Q4 profit declines, core business underperforms
Cyient shares fall over 9% after Q4 profit declines, core business underperforms L&T Technology Services shares slide 7% after Q4 profit dips
L&T Technology Services shares slide 7% after Q4 profit dips Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first?
Trump-Powell standoff puts U.S. Rate policy in crosshairs: Who will blink first? SEBI warns of securities market frauds via YouTube, Facebook, X and more
SEBI warns of securities market frauds via YouTube, Facebook, X and more API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders
API Trading for All: Pi42 CTO Satish Mishra on How Pi42 is Empowering Retail Traders Security, transparency, and innovation: What sets Pi42 apart in crypto trading
Security, transparency, and innovation: What sets Pi42 apart in crypto trading Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains
Bitcoin, Ethereum, or Altcoins? How investors are structuring their crypto portfolios, Avinash Shekhar explains The rise of Crypto Futures in India: Leverage, tax efficiency, and market maturity, Avinash Shekhar of Pi42 explains
NEXT STORY
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Dr. Reddy's Q1 net inches up amid decline in generics sales to U.S.
Dr. Reddy's Q1 net inches up amid decline in generics sales to U.S.

The Hindu

time19 minutes ago

  • The Hindu

Dr. Reddy's Q1 net inches up amid decline in generics sales to U.S.

Generic drugmaker Dr. Reddy's Laboratories' consolidated net profit for the June quarter increased marginally to ₹1,409.9 crore from Rs.1,392.4 crore year earlier as revenue from the all important U.S. market declined amid increased price erosion in certain key products. The net profit came on a more than 11% increase in total revenue from operations to ₹.8,572.1 crore (₹.7,696.1 crore), the results prepared as per Indian Accounting Standards (Ind AS) showed. Pricing pressure on cancer drug Lenalidomide is expected to intensify in the U.S. generics market, according to co-chairman and MD G.V. Prasad. He said this reaffirming the company's focus on strengthening the base business by delivery of our pipeline assets, improving overall productivity and business development.' On segment revenue, the company said global generics contributed ₹7,573.2 crore (₹.6,892.9 crore), while share of Pharmaceutical Services and Active Ingredients declined to ₹987.4 crore (₹1,047.2 crore). In a release, on the results prepared as per International Financial Reporting Standards (IFRS), Dr. Reddy's said revenue from the North America generics market at ₹3,410 crore was 11% lower a decline YoY of and 4% QoQ. The decline was primarily due to increased price erosion in certain key products, including Lenalidomide. Revenue from generics sales in Europe, India and Emerging Markets were higher year on year. The company's shares closed less than 1% higher at ₹1,247.55 each on the BSE.

Explained: Planning a trip to the US? Get ready to pay more than double visa fees
Explained: Planning a trip to the US? Get ready to pay more than double visa fees

Time of India

time19 minutes ago

  • Time of India

Explained: Planning a trip to the US? Get ready to pay more than double visa fees

Explained: Planning a trip to the US? Get ready to pay more than double visa fees Team TOI Plus Jul 23, 2025, 18:37 IST IST Your visit to the US is about to get costlier with the Trump administration set to introduce a new 'visa integrity fee' in addition to the existing fee for all non-immigrant visas. Here's what you need to know and how much it will cost you Planning to visit the United States? It's likely to cost you an extra $250 or approximately Rs 22,000 - for Indians, that means paying more than double the existing visa fee.

Aditya Birla Real Estate clocks Rs 27 crore loss in Q1, income falls over 55 pc
Aditya Birla Real Estate clocks Rs 27 crore loss in Q1, income falls over 55 pc

Hans India

time19 minutes ago

  • Hans India

Aditya Birla Real Estate clocks Rs 27 crore loss in Q1, income falls over 55 pc

Mumbai: Aditya Birla Real Estate Limited (ABREL) on Wednesday reported a net loss of Rs 27.08 crore for the first quarter of the current financial year ( Q1 FY26). This marks a sharp reversal from the Rs 17.35 crore profit the company had recorded during the same period previous fiscal, according to its regulatory filing. The company's total income fell 56.9 per cent to Rs 157.41 crore in Q1 FY26, down from Rs 365.24 crore in the April–June quarter of FY25. During the quarter, ABREL reported a loss of Rs 47.30 crore from continued operations, while it registered a profit of Rs 20.22 crore from discontinued operations. The company recently exited its pulp and paper business, previously operated under the Century Pulp and Paper division, as part of its ongoing business restructuring. ABREL, formerly known as Century Textiles and Industries Limited, has also announced plans to raise up to Rs 1,500 crore through secured or unsecured rupee term loans. The fundraising is aimed at refinancing existing debts linked to capital expenditure for its now-sold pulp and paper division. The company said the move will help in releasing charges or encumbrances on the assets of that division, which is being sold to ITC. On the stock market front, Aditya Birla Real Estate shares have seen a 16 per cent decline in the past one month and are down 20 per cent year-to-date (YTD). The stock has fallen 24.85 per cent over the past year. However, over a longer period, the company has delivered strong returns -- rising 150 per cent in the last three years and delivering multi-bagger gains of 560 per cent over five years. At the closing bell, the company's shares were at Rs 2,019, down 5.51 per cent or Rs 117.8 on the National Stock Exchange (NSE) following the announcement of its Q1 results.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store