Vedanta Resources is a diversified and integrated metals and mining group with annual sales of $1.9bn. Its principal operations are located in India, where it has a major market share in each of our main metals: aluminium, copper, zinc and lead. There are also substantial copper operations in Zambia and 2 copper mines in Australia.

            Red = 25 day moving average.           Green = 200 day moving average.

                        

Copper - (6 month graph)

SALES PER ACTIVITY (Data as of 31/03/2006)

Copper:      60%
Zinc:         24%
Aluminium:  12%
Others:       4%

Cairn India announces commencement of production at Bhagyam

Vedanta Resources plc's subsidiary, Cairn India Limited ("Cairn India") today announced that ONGC and Cairn India (Rajasthan Joint Venture) have commenced production from the Bhagyam Field in Rajasthan. The full text of the release issued by Cairn India is set out below.

19 January 2012

Rajasthan Joint Venture starts oil production in Bhagyam
ONGC and Cairn (Rajasthan Joint Venture) have commenced production from the Bhagyam Field in Rajasthan. Bhagyam is the second largest of 25 discoveries made so far by Cairn in the Barmer Basin in Block RJ-ON-90/1.

The Bhagyam reservoir and facilities will entail a gradual and safe ramp up to reach the currently approved plateau rate of 40,000 barrels of oil per day (bopd). The commissioning of Bhagyam is a key milestone towards achieving the target production rate of 175,000 bopd by end FY 2011-12.

The Mangala, Bhagyam and Aishwariya (MBA) fields have gross recoverable oil reserves and resources of approximately one billion barrels. The Rajasthan Joint Venture will contribute more than 20 percent of current domestic crude production when they reach the currently approved plateau rate of 175,000 bopd.

Thoughts from Simon Griffin of Shares Mag:
"A new Year rally above both the 50-day moving average and a steep bear trend line looks decisive and should set indian mining giant Vedanta Resources (VED) on the way to fresh substantial gains. shares in the FTSE 100 constituent performed exceptionally well as markets began to recapture their poise in early 2009, as they racked up a 650% increase to reach £29.35, exceeding even the high posted in early 2008. That meteoric progress gave way to a period characterised by sideways ranging between £18.30 and £25.50. At the height of last summer support from the lower level finally gave way and renewed weakness took Vedanta down to 933p and the 78.6% retracement of the preceding rise from 384p. That crashing fall wiped two-thirds off the firm’s market cap. support from the fibonacci indicator held and then just last week vedanta started to head higher once more as it confi rmed a move above its 50-day average earlier in the month by breaking above the steeper of two downtrend defi ning trend lines on the daily log scale chart.
Bulls will now look for the shares to reach £12.80 and then head for a test of the shallower bear trend line at £13.60. Beyond that would come £14.10, a site of congestion and strong resistance last autumn that will shortly coincide with the declining 200-day average. This mark also sits just above the 23.6% retracement of the fall from £29.34. farther out, a more impressive rise could result from a sustained rally and a case for a recovery to test evident support and resistance close to £20.80 can be made. only a slip back below £10.60 would question the chart’s bullish leaning."

StockMarketWire.com
Resources giant Vedanta Resources (LON:VED) saw profits dip in the third quarter despite announced record output of silver and lead.

The India-focused miner said earnings before interest, tax, depreciation and amortisation (EBITDA) came in at $848.4 million for the third quarter, including $131 million from its majority stake in Cairn India, acquired last year.

Zambia, the focus of market attention as Vedanta's listed subsidiaries have already reported, posted results well below market expectations, hit by a drop in production, weaker copper prices and a provision for higher power costs.

The Zambian copper operations posted core earnings of $67.7 million, compared to $134.4 million a year ago.

Aluminium was also badly hit by lower market prices and by the depreciation of the Indian rupee, which forced mark-to-market losses on foreign currency loans. Core profit sank to $3.6 million for the division from $76.3 million a year earlier.

Over the nine months to the end of December, the group's core profit rose 14 percent to $2.6 billion.

Output up but profits down, Miners up in general though so VED go up with them. Over 2% so far.

As per post #186, £20.80 now looking a good possibility.

Media Speculation Regarding Group Structure
Vedanta Resources plc notes media speculation regarding a potential group restructuring. Vedanta's stated strategy is to simplify and consolidate its corporate structure. Management reviews options to deliver this strategy on an ongoing basis and will update the market as appropriate.

Credit Suisse believes that a major restructuring within the businesses of miner Vedanta Resources would be a "strong positive" and continues to see significant upside in the stock.

Credit Suisse said that "if the reports are correct and a merger is successful it would not change group consolidated debt levels but we estimate would reduce debt levels at holdco by c.$2.4bn assuming the merger is structured as a sale of VED’s 55% Sesa Goa stake to Sterlite."

Be that as it may, the broker has maintained its neutral rating and 1,400p target price for the stock, saying that it remains "cautious in the near term due to high debt levels, margin squeeze in power aluminium and power and regulatory risks to the company's iron ore operations."

Telegraph - 25 Feb:

http://www.telegraph.co.uk/finance/newsbysector/industry/mining/9105834/Vedanta-plans-9bn-merger.html

Notice of Production Results for Q4 and full year ended 31 March 2012
Vedanta Resources plc will announce its production results for the fourth quarter and full year ended 31 March 2012, on Tuesday, 10 April 2012 at 7:00 a.m. UK time (11:30 a.m. India time).

Following the release, a conference call will be held on the same day at 9:00 a.m. UK time (1:30 p.m. India time), where senior management will discuss the results.

Production Release for the Fourth Quarter and Year Ended 31 March 2012
Q4 Highlights

· Record quarterly production of Lead, Silver, Alumina and Power

· Commissioned the 3rd 600 MW Unit of the 2,400 MW Jharsuguda power plant and synchronized the 4th Unit

· Commenced oil production at Bhagyam, the second largest field in the Rajasthan block

· Vedanta Group Consolidation and Simplification announced, expected to complete in CY 2012

http://www.moneyam.com/action/news/showArticle?id=4345632

Notice of Preliminary Results for the year ended 31 March 2012
Vedanta Resources plc will announce its results for the full year ended 31 March 2012 on Thursday, 17 May 2012 at 7:00 AM, London Time.

Following the release, a conference call will be held for investors and analysts on the same day at 9:00 AM London time where senior management will discuss the company's results and answer questions from participants.

StockMarketWire.com
Resources giant Vedanta Resources (LON:VED) will announce its production results for the first quarter ended 30 June 2012, on Tuesday, 31 July 2012 at 7:00 a.m. UK time.

Ex-divi 15th Aug '12 (0.35¢)

Miners out of favour recently but a nice divi of 21.77p to come next Tues.

Vedanta Resources frequently appears on lists of the cheapest large-cap shares around. They have become less cheap recently. In the last month, the shares have risen 13.5%. This means that the shares today trade at 7.8 times the consensus eps (earnings per share) forecast for 2013.

Unlike many companies in the resources sector, Vedanta has significant operations in both metals and energy. At the end of 2011, Vedanta acquired a majority stake in Cairn India at a cost of $8.7bn. This brought the famous Rajasthan oil fields into Vedanta's portfolio.

Around one third of Vedanta revenues come from copper. Zinc is 23% and iron ore is 12%; the balance is aluminium and power. Following the Cairn India acquisition, oil and gas will play a bigger role within the company.

Given how diversified Vedanta is, it is a surprise to see that the shares are so volatile. Vedanta has been paying a dividend for the last eight years. The payout has been rising since 2010, and another two years of dividend growth are expected

Interesting overall assessment that D/C, interesting.

Is interesting your word of the day Stan, seen it in another post. :-))

You mean "reprotational".. Yes its a cracker isn't it? -):

lol

Back to VED. The Government of Singapore Investment Corporation Pte Ltd. Have added just over 17,000 shares today.