Vedanta Ltd (ADR) (VEDL) was Upgraded by Citigroup to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Citigroup advised their investors in a research report released on Oct 5, 2016.
Vedanta Limited formerly Sesa Sterlite Ltd. is an India-based global diversified natural resources company with operations across zinc lead silver oil and gas iron ore copper aluminum and commercial power. The Company operates through segments including Copper Aluminium Iron Ore Power and Others. It operates Tuticorin smelter and India Copper Mines of Tasmania. Its custom smelting assets include a copper smelter a refinery a phosphoric acid plant a sulfuric acid plant a copper rod plant and two captive power plants at Tuticorin in Southern India and a refinery and two copper rod plants at Silvassa in Western India. Its Iron Ore business consists of exploration mining and processing of iron ore pig iron and metallurgical coke and power generation. Its Aluminium operations include a refinery a smelter and power plants at Lanjigarh and Jharsuguda. Its other activities include operation of its Vizag General Cargo Berth Private Limited in which it owns a 100% interest.