Vedanta Ltd. on Tuesday made an announcement to clarify about a news item that appeared in a publication's website.
Both, the BSE and NSE, had sought a clarification from the company over a recent news report that appeared on the website www.economictimes.com dated April 15, 2025.
Vedanta's exchange filing clarified "we wish to inform you that in Assam, the Company has exploration blocks awarded under OALP bid rounds”.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
It added that the information has been earlier shared with the stock exchanges “vide letters VEDL/Sec./SE/18-19/96 and VEDL/Sec./SE/19-20/46 dated August 29, 2018 and July 03, 2019 respectively”.
According to the company, the blocks are currently “under the exploration stage” to establish the hydrocarbon potential.
On successful exploration and subsequent appraisal, “we shall prepare a development plan to monetize the hydrocarbon”, it said.
This monetization shall trigger investment in the future. "We shall make the due disclosures, as per regulatory requirement, post Board approval on such investment plans," the company's disclosure added.
While pointing out that "the current news is from the initial discussions highlighting our vision for the state", Vedanta asserted that the news report will have "no material impact" on the company.
"In this regard, as on date, there is no information / announcement which in our opinion is pending to be disclosed by the Company to the stock exchange(s) which may have a bearing on the price/volume behaviour of the scrip of the Company," the filing stated.
The company also reiterated that it "is and will continue to comply with SEBI Listing Regulations and keep the stock exchange(s) duly informed of all material information/events, including price sensitive information(s), in accordance with the applicable provisions".
Shares of the Vedanta have risen nearly 5% in the last two sessions after a decline of a day. So far in April, Vedanta's shares have ended in green for only four sessions, whereas they have ended in red for five sessions.
On Monday, Assam Chief Minister, Himanta Biswa Sarma, had held discussions with the private sector energy major to prepare a detailed plan for the announced investment of Rs 50,000 crore in the state.
Shares of Vedanta Ltd. closed 4.08% higher at Rs 395.80 apiece on the BSE, compared to a 2.10% advance in the benchmark Sensex. However, the company had made the clarification after the stock markets had closed for Tuesday.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.