Latest news with #AnilAgarwal
Time of India
2 days ago
- Business
- Time of India
Viceroy calls semiconductor unit of Vedanta a 'sham op'
Vedanta NEW DELHI: Continuing its tirade against mining heavyweight Anil Agarwal 's Vedanta group, US-based Viceroy Research has alleged that the group's semiconductor unit was a "sham commodities trading operation", designed to avoid classification as an NBFC, a charge the conglomerate called baseless. The short seller, which last week published a scathing report about Vedanta Group and followed it up with similar reports on group companies, in fresh allegations said Vedanta Ltd's subsidiary, Vedanta Semiconductors Pvt Ltd, was part of a scheme to allow the Mumbai-listed firm to remit brand fees to parent Vedanta Resources in April this year, when it faced a severe liquidity crisis. In a statement, Vedanta spokesperson said the group "strongly rejects the baseless allegations made in the report regarding Vedanta Semiconductors Pvt Ltd (VSPL)". "All business activities of VSPL have been transparently disclosed and are in line with statutory norms," it said. Viceroy said, "VSPL is a sham commodities trading operation designed to improperly avoid classification as a Non-Banking Financial Company (NBFC)". "This scheme was devised to facilitate Vedanta Ltd's remittance of brand fees to Vedanta Resources' (VRL) in April 2025, when it faced a severe liquidity crisis," Viceroy said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like American Investor Warren Buffett Recommends: 5 Books For Turning Your Life Around Blinkist: Warren Buffett's Reading List Undo "VSPL's operational illusion needs 24 months of regulatory silence to fulfil its purpose, repaying its offshore lenders and hiding the near-catastrophe of April 2024. While credit analysts are snoozing through the alarm bells, India's regulators are famously light sleepers," it added. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
5 days ago
- Business
- Time of India
Crisil, ICRA reaffirm credit rating, underscore confidence in business stability, says Vedanta
Vedanta on Friday said rating agencies Crisil Ratings and ICRA have reaffirmed their credit ratings, underscoring continued confidence in the mining major's overall business stability . In a regulatory filing, Vedanta said ICRA Ltd has reaffirmed the company's credit ratings, underscoring continued confidence in Vedanta's overall business stability and healthy financial performance, healthy financial performance and strong adherence to corporate governance. Explore courses from Top Institutes in Select a Course Category Public Policy MCA Artificial Intelligence Data Science Healthcare Degree healthcare MBA Design Thinking Operations Management PGDM Product Management Others Cybersecurity Project Management Data Analytics Technology Digital Marketing others CXO Leadership Finance Data Science Management Skills you'll gain: Duration: 12 Months IIM Calcutta Executive Programme in Public Policy and Management Starts on undefined Get Details Skills you'll gain: Economics for Public Policy Making Quantitative Techniques Public & Project Finance Law, Health & Urban Development Policy Duration: 12 Months IIM Kozhikode Professional Certificate Programme in Public Policy Management Starts on Mar 3, 2024 Get Details Vedanta said that ICRA has reaffirmed its long-term rating at AA. In another filing Vedanta said, "Crisil Ratings Ltd ... has reaffirmed the company's credit ratings, underscoring continued confidence in Vedanta's overall business stability and healthy financial performance." The rating agency reaffirmed its long-term ratings of Crisil AAA for Hindustan Zinc Ltd and Crisil AA for Vedanta. Live Events Crisil Ratings said that it has taken note of the recent short-seller report and, after independent evaluation, reaffirmed Vedanta's ratings, according to the regulatory filing. "CRISIL has its credit ratings outstanding on multiple entities of the Vedanta group, and all have been reaffirmed. Further, based on independent feedback, CRISIL understands that currently there has been no adverse reaction from any lender or investor," it said. The filing further said that ICRA draws comfort from the group's stated commitment to ongoing debt reduction. "The leverage ratio (Net Debt/OPBDITA), including Vedanta Resources Limited's debt, improved to 2.5x in FY 2025, down from 3.2x in FY 2024. Further, Vedanta's healthy profitability, particularly in its aluminium and zinc operations, continues to strengthen its credit profile. Additionally, the recent refinancing at VRL has effectively smoothened the debt maturity profile and is expected to reduce finance costs from FY 2026 onwards," the filing said. US short seller Viceroy Research had last week released a report charging billionaire Anil Agarwal's mining conglomerate to be "financially unsustainable" and posing a severe risk to creditors, allegations which the group called "selective misinformation and baseless" aimed at discrediting the group. Responding to the report, Vedanta in a statement had said, "The report 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 of creating false propaganda. It only contains a 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," it had said. PTI SID MR
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Business Standard
5 days ago
- Business
- Business Standard
China tightens grip on rare earth sector with silent quota release
China has quietly released its first rare earth mining and smelting quotas for 2025 without making the usual public announcement—another indication of Beijing tightening its hold on the strategically important industry. Rare earth quotas issued without public notice The quotas, which serve as a key indicator of global rare earth supply, were allocated last month without the customary statement from the government, Reuters reported. Companies involved were instructed not to disclose the figures due to 'security reasons". Rare earths—comprising 17 critical elements—are essential in the manufacture of electric vehicles, wind turbines, industrial robots, and military equipment such as missiles. China remains the largest global producer of these minerals and has traditionally issued mining and smelting quotas twice annually to state-owned firms. However, the release was delayed this year. Over the past four years, China's Ministry of Industry and Information Technology has published the first batch of quotas in the first quarter via its official website. In 2023, the total mining quota was set at 270,000 metric tonnes, with supply growth slowing to 5.9 per cent, compared to 21.4 per cent the year prior. Beijing introduced the quota system in 2006 and has increasingly relied on it—along with industry consolidation—to exert tighter control. India eyes incentive scheme for rare earth processing As China tightens its hold, India is looking to scale up domestic production. A proposed plan by the central government aims to incentivise private sector firms to manufacture rare-earth magnets, with a reported incentive pool of $290 million. According to Bloomberg, major conglomerates such as Anil Agarwal's Vedanta Group, Sajjan Jindal's JSW Group, and EV parts manufacturer Sona BLW Precision Forgings Ltd have expressed early interest in the scheme. Despite these restrictions, China's rare earth exports surged in June to their highest level since 2009. The sharp increase indicates a global rush to secure these vital materials. Exports—comprising rare earths in both mineral and metal forms—rose to 7,742 tonnes, marking a 60 per cent year-on-year increase.
India.com
6 days ago
- Business
- India.com
This man is top dividend earner of India, beats Mukesh Ambani, Gautam Adani, Narayana Murthy, Azim Premji, he is…
Mukesh Ambani and Gautam Adani (File) Some of India's richest billionaires became richer in FY25, not through stock market rallies or IPO gains, but through massive dividend payouts in cash. Ten of the country's top promoter groups, including Mukesh Ambani, Gautam Adani, Anil Agarwal, and Shiv Nadar earned over Rs 40,000 crore in dividends during the year. This year so far saw strong earnings and generous payout policies in multiple sectors like technology, telecom, metals, and pharmaceuticals. Shiv Nadar HCL Tech Dividend At the top of the dividend earnings chart is Shiv Nadar, the founder of HCL Technologies, who received Rs 9,902 crore in dividend income in FY25. HCL declared a total dividend of Rs 16,290 crore at Rs 60 per share, and the Nadar family, which has a 60.81 percent stake, was the biggest beneficiary. With a net worth of $37.3 billion, the 80-year-old philanthropist is India's third richest person and 50th globally on the Bloomberg Billionaires Index. Anil Agarwal Vedanta Dividend Close behind is Anil Agarwal, whose family received Rs 9,591 crore in dividend income from Vedanta. The company declared a total of Rs 17,009 crore in dividends for the year. The Agarwal family holds a 56.38 percent stake in Vedanta through various unlisted entities. Another notable name is M.A. Moopen, promoter of Aster DM Healthcare, who earned Rs 2,469 crore from the company. With a 41.89 percent stake and a dividend of Rs 118 per share, Aster emerged as one of the year's most generous cash distributors in the healthcare sector. Mukesh Ambani Reliance & Azim Premji Wipro Dividend Azim Premji, the founder of Wipro, earned Rs 4,570 crore in dividends in FY25. The Premji family owns 72.66 percent of Wipro, which declared a dividend of Rs 6 per share. Meanwhile, the Ambani family received Rs 3,655 crore in dividends from Reliance Industries, which declared a total dividend of Rs 7,443 crore for FY25. The Ambani family holds a 50.11 percent stake in the company, both directly and through unlisted entities, with dividends paid at Rs 5.50 per share. Narayana Murthy Infosys Dividend The promoter group of Infosys, which includes N.R. Narayana Murthy, Nandan Nilekani, S.D. Shibulal, S. Gopalakrishnan, and K. Dinesh, collectively received Rs 2,331 crore in dividend income. They jointly hold a 14.6 percent stake in Infosys, which paid out Rs 17,854 crore in total dividends at Rs 43 per share during the year. Sunil Bharti Mittal Airtel Dividend Sunil Bharti Mittal and his family, who promote Bharti Airtel, earned Rs 2,357 crore in dividends as the telecom company paid Rs 16 per share. Pharma giant Sun Pharma paid Rs 3,839 crore in dividends in FY25, from which promoter Dilip Shanghvi and his family received Rs 2,091 crore, thanks to their 54.48 percent holding. The Bajaj family received Rs 1,645 crore in dividend earnings, led by Bajaj Auto, which offered one of the highest per-share payouts at Rs 210. The family also received dividends declared by other listed companies in the group like Bajaj Holdings & Investments, Bajaj Finserv, Bajaj Electricals, Mukand, and Bajaj Finance. Gautam Adani Family Dividend Gautam Adani and his family earned Rs 1,460 crore in dividends from group companies, with the largest chunk, Rs 996 crore, coming from Adani Ports and SEZ. The remainder came from other entities including Ambuja Cements, Adani Enterprises, Adani Total Gas, and ACC.
Economic Times
6 days ago
- Business
- Economic Times
Rs 40,000 crore dividend boom! How Ambani, Adani & India's top billionaires got richer in FY25
Agencies Reliance Industries' Chairman Mukesh Ambani (left); Adani Group Chairman Gautam Adani (right) Some of India's richest billionaires became even richer in FY25, not through stock rallies or IPO windfalls, but through cold, hard cash. Ten of the country's most powerful promoter groups, including the Ambanis, Adanis, and Anil Agarwal's Vedanta, collectively earned over ₹40,000 crore in dividends during the a sign of India Inc's robust cash generation and generous payout policies, dividend income surged across sectors, from tech and telecom to metals and pharma. Billionaire philanthropist Shiv Nadar, founder of HCL Technologies, took home a jaw-dropping ₹9,902 crore in dividends in FY25, the highest among all promoter groups, according to data collated from regulatory filings and ACE which declared a dividend of ₹60 per share, paid out ₹16,290 crore in total. The Nadar family holds a 60.81% stake in the company. At a net worth of $37.3 billion, the 80-year-old tech magnate is India's third richest man and ranks 50th in the global Bloomberg Billionaires Index. Close behind in the payout list is Vedanta's Anil Agarwal, whose family earned ₹9,591 crore in dividend income during the year. Vedanta, which declared ₹17,009 crore in total dividends for FY25, has been under scrutiny for its aggressive cash returns, with short-seller Viceroy recently questioning the sustainability of such payouts. The Agarwal family holds 56.38% in the company through various unlisted holding entities. Also Read | $4 billion question: If promoters are selling, MFs are buying, should SIP investors worry? Azim Premji, the philanthropic billionaire and founder of Wipro, earned ₹4,570 crore in FY25. His family owns 72.66% of the company, which declared a dividend of ₹6 per Ambani family earned Rs 3,655 crore from Reliance Industries' dividend payout in FY25. Reliance Industries paid dividends worth Rs 7,443 crore, with the Ambani family owning 50.11 per cent directly as well as through unlisted holding companies. The family received Rs 5.50 per share in dividends. Also Read | Reliance Industries shares at inflection point. 6 reasons why FY26 could be the year of big re-rating Infosys promoters, including N R Narayana Murthy, Nandan Nilekani, S D Shibulal, S Gopalakrishnan, and K Dinesh, collectively received ₹2,331 crore in dividends. The promoter group owns 14.6% in the tech giant, which declared ₹17,854 crore in dividends at ₹43/share in FY25. Sunil Bharti Mittal and family, the promoters of Bharti Airtel, pocketed ₹2,357 crore in dividend income, as the telecom major paid out ₹16/share to investors. Dilip Shanghvi, India's original pharma billionaire, earned ₹2,091 crore from Sun Pharma in FY25. The company declared ₹3,839 crore in dividends and the promoter group holds a 54.48% stake. Gautam Adani and family earned ₹1,460 crore in dividends from their group companies, led by Adani Ports & SEZ (₹996 crore), with the rest coming from Ambuja Cements, Adani Enterprises, Adani Total Gas, and ACC. Bajaj Group promoters earned around ₹1,645 crore in FY25, led by Bajaj Auto, which had the most generous per-share payout of ₹210. The family also benefited from dividends across other listed group companies Bajaj Holdings & Investments, Bajaj Finserv, Bajaj Electricals, Mukand, and Bajaj Finance. A surprise entrant in the dividend heavyweights' club was M A Moopen, promoter of Aster DM Healthcare, who earned ₹2,469 crore in FY25. With a 41.89% holding and a ₹118/share dividend, Aster turned out to be one of the year's most generous cash givers in the healthcare space. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
