Bought this 24/03/09 for 651 sold last week at 1301 waited for it to drop to buy back in but it rose to 1366 this morning dont understand as mining stock has been poor for this week

"Vedanta Resources is plotting one of the biggest money-spinning corporate break-ups of a Ftse 100 company in years. The Agarwal family, which has a majority stake in the India-based miner, is considering a spin-off of several of its interests, resulting in five or six companies plus a parent. Vedanta would retain controlling interests in them all, but each would be separately listed, says the Independent on Sunday."

Interested to see what that does for the SP on Monday.

Anyone been trading this one lately? if so what's your current feeling about VED please?

Anyone know why VED has fallen so much this am?

Not aware of any news. Ex-div?

On going Cairn energy offer?

all mining and energy stocks are down, presumably on the back of weakness in NY last night ..... the market also does not seem frightfully keen on VED's bid for CNE's indian operations

D/Dear,

The Cain issue is not the only one to effect VED's SP and the "specific" retreat today is down to this:
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NEW DELHI: India's environment ministry on Tuesday rejected a plan by India-focused mining group Vedanta Resources Plc to mine bauxite in Orissa, dealing a blow to the company already struggling with regulatory issues in India.

The decision pertains to one mining site in eastern Orissa state where it runs an alumina refinery on bauxite imported from elsewhere in India. The decision was announced in a government statement.

The company is facing regulatory hurdles in its bid for control of Cairn India, a potential deal valued at $9.6 billion that can give billionaire Anil Agarwal-led group a slice of India's oil reserves and exposure of surging demand.
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Agarwal is a driven individual so it's a case of avoid at the mo but keep an eye on VED for a likely rebound sometime in the future IMHO.

Thanks all

i'd forgotten about that orissa thing ..... VED's proposal was appalling, smacking distinctly and worse of the early settlers in usa dispossessing the indians

Chairman buys shares alert!

Rebound started already? certainly a short term one, profits taken.. just in case.

Likewise

Wonder what's causing this rise

Rising share price. Good chart. Results in 2 days time.Should be news of higher commodity prices and offer to cairn.

Vedanta sticks to guns on Cairn deal

Vidya Ram

London, Nov. 11

London-listed mining company Vedanta Resources is adamant that its acquisition of Cairn India will go ahead, despite the stand-off with ONGC. The company is on track to getting the ratification from the Government, the Chairman, Mr Anil Agarwal, told investors on a conference call on Thursday.

The company is expecting to complete the deal in the first quarter of next year, added the company's Deputy Executive Chairman, Mr Navin Agarwal.

We believe, we have secured a very attractive entry opportunity into the Indian oil and gas sector which fits with our strategy of being an Indian high-growth low-cost resource company, he said.

Cairn India was expected to double production in the short term, and had the scope to ramp up production still further, he said.

Over the past few weeks, tension between ONGC and Cairn has been escalating, as the state-owned energy firm insisted that it had pre-emptive rights, instructing the London-listed firm to seek its explicit approval. However, Vedanta Resources has been moving ahead with the deal struck with the Edinburgh-based Cairn Energy in August.

In early October, 99 per cent of Cairn Energy shareholders voted in favour of the sale of its majority stake in Cairn India.

The deal is yet to receive the approval of Vedanta Resources shareholders. Mr Navin Agarwal said that it would shortly be releasing the prospectus for Indian shareholders, outlining the full details of the bid, including bank debt facilities.

Questioned by a UK-based analyst about the challenges that had surrounded environmental and licensing processes, following of the withdrawal of clearance for the bauxite mine in Orissa, Mr Navin Agarwal said that all other licences were on track for approval.

This is a democratic country, sometimes it happens naturally, sometimes it takes timeand we go along with that. The company is also looking at listings for KCM, its recently acquired copper business, Mr Navin Agarwal said.

Net up 79% in H1

According to agency reports, the company reported a 79 per cent jump in net profit to $337 million for the six-month ended September 30, 2010, from $188.2 million in the previous year period. The group's revenue rose to $4.6 billion ($2.97 billion), registering a 54 per cent growth.)

Get in now ready to rocket.