{"id":111143,"date":"2023-10-04T17:30:00","date_gmt":"2023-10-04T12:00:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=111143"},"modified":"2023-10-04T15:42:01","modified_gmt":"2023-10-04T10:12:01","slug":"large-cap-stock-falls-2-8-after-company-to-sell-steel-assets-for-debt-repayment","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/large-cap-stock-falls-2-8-after-company-to-sell-steel-assets-for-debt-repayment\/","title":{"rendered":"Large cap stock falls 2.8% after company to sell steel assets for debt repayment"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1337933788\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>The largest mining company in India plans to sell its assets so that the company does not default on its payments.\u00a0At 1:40, 4th october shares of the company were trading at Rs. 221.85 per share down by almost 4 percent from the previous closing price of Rs. 230.75 per share.\u00a0<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1898028164\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>Anil agarwal, founder of Vedanta Ltd told in a TV interview that <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/VEDL\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Vedanta<\/a><\/strong> is looking to sell its steel assets by march 24 which would help the company to cut down debt, company has total debt of 6.4 billion dollars and upcoming debt payments are in January of 1 billion dollar and 500 million dollars in August 24. Moreover, the company is also looking to raise capital from JP morgan, standard chartered bank and other banks in US and Europe so that the company doesn\u2019t default on its payments.\u00a0<\/p><p>The conglomerate announced that they are going to demerge the company into 6 different entities, unlocking value for investors. They expect to receive SEBI approval in October to complete the process of demerger in the next fiscal year.&nbsp;<\/p><p>Looking at the financial reports, the company&#8217;s revenue decreased by 12.66 percent to Rs. 33,733 crore in Q1FY24 from Rs. 38,622 crore in Q1FY23. In the same time period net profit decreased by 40 percent to Rs. 2,640 crore from Rs. 4,421 crore.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-266243115\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Talking about the financial ratios, the company reported return on equity (ROE) of 27.76 percent and return on capital employed (ROCE) of 21.29 percent.&nbsp;<\/p><p>Vedanta Ltd (Vedanta) is a diversified metal and mining company. The company with its subsidiaries is focused on mining, processing and exporting of natural resources, power, oil and gas businesses.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Vinit Israni&nbsp;<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-2986201164\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>The largest mining company in India plans to sell its assets so that the company does not default on its payments.\u00a0At 1:40, 4th october shares of the company were trading at Rs. 221.85 per share down by almost 4 percent from the previous closing price of Rs. 230.75 per share.\u00a0 Anil agarwal, founder of Vedanta [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":50355,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[948,936,8251,5730,12781,12526],"class_list":["post-111143","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-stock-market","tag-stock-market-news","tag-vedanta-latest-news","tag-vedanta-share-price","tag-vedanta-to-sell-steel-business","tag-why-is-vedanta-share-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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