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The <keyword id="20161017" type="General" weightage="20" keywordseo="Vedanta-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Vedanta Group" meta.hostid="153" meta.entityid="Vedanta Group">Vedanta Group</keyword> is aiming to invest USD 20 billion across all its businesses in India over the next four years, its Chairman <keyword id="19919725" type="General" weightage="20" keywordseo="Anil-Agarwal" source="keywords">Anil Agarwal</keyword> said on Wednesday. The group will sell the steel business only at the right price, and is committed to continue running it if it does not get the right price, Agarwal told PTI on the sidelines of a company event. "At the moment, we have a plan to invest USD 20 billion across sectors in four years time," Agarwal said. The investments will be focused on technology, electronics, and glass businesses apart from the other activities that the group is engaged in, he said. Semi-conductors and glass -- used in making smartphones and laptops screens -- are very essential from a future perspective, he said, adding that the group is present in both the businesses already. It has land in Gujarat for a <keyword id="19920003" type="General" weightage="20" keywordseo="semiconductor" source="keywords">semiconductor</keyword> plant and is scouting for a credible and strong partner, he said. On the glass front, it is already into manufacturing in other countries but not in India, Agarwal said, hinting that the plan would involve undertaking some capacity building locally. Meanwhile, when asked about the steel business sale, which was supposed to be sold by March, Agarwal said a transaction depends on getting the right price. "We are committed... if we get the right price to divest it," he said, adding that if the group doesn't get the right price, it will choose to continue running the business by itself. He said the steel business is profitable and has really committed people who can ensure that it continues going ahead. Amid concerns around the debt position of the company, Agarwal said the overall debt of the company stands at only USD 12 billion at present and seemed to suggest that the same is manageable. He said the group has never defaulted on any of its debt repayment commitments, and that each of the businesses will require heavy investments if it were to be started from scratch. The London-based billionaire said he "is in very critical areas" and added that every developed economy has made it big by focusing on minerals under the ground. He rued that there are concerns on the environmental impact of mining in India. Foreign investors are very keen to take bets on India, he said, hoping for "simplification and encouragement for entrepreneurs after the elections". The billionaire from Bihar said he wants to play the role of a catalyst in helping his home state grow, but "there is a need for strong support from the policy front for it". <keyword id="19919721" type="General" weightage="20" keywordseo="Vedanta" source="keywords">Vedanta</keyword> wants to take the total number of Nand Ghars -- under which it takes care of children's nutritional requirements in villages -- to 25,000 over the next two years from the present 6,000, Agarwal, who was speaking on the sidelines of an event to announce scaling up of the group's philanthropic activities, said. The ultimate plan is to increase the number of beneficiaries to over 7 crore children and 2 crore women, he said. Agarwal said the group may also look at investing in the entertainment business going forward but did not offer any timeline or investment details. All successful corporates in the world have interests in education, healthcare, sports and entertainment, he said, conceding that he "does not understand entertainment a lot". More than profits, entertainment has to be looked at a means to instil the right cultural values, he added. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank">India T20 World Cup squad: KulCha back on menu, KL Rahul dropped</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a>

Vedanta plans to invest $20 bn in India in 4 years; will sell steel biz only at right price: Agarwal

Equity indices climbed in early trade on Tuesday, with the Sensex rallying 672 points, helped by continuous buying in banking counters and recovery in global markets. Foreign fund inflows also added to the momentum. The 30-share BSE Sensex jumped 672.06 points to 59,813.29 in early trade. The NSE <keyword id="6354813" type="General" weightage="80" keywordseo="nifty" source="Orion">Nifty</keyword> went higher by 209.5 points to 17,831.75. All the 30-share Sensex pack of firms were trading in the green in early trade, with <keyword id="46717" type="General" weightage="80" keywordseo="indusind-bank" source="Orion">IndusInd Bank</keyword>, <keyword id="85462" type="General" weightage="80" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword>, <keyword id="111876" type="General" weightage="80" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword>, <keyword id="6355975" type="General" weightage="80" keywordseo="axis-bank" source="Orion">Axis Bank</keyword>, <keyword id="6653" type="General" weightage="80" keywordseo="icici-bank" source="Orion">ICICI Bank</keyword>, Larsen &amp; Toubro and <keyword id="6357147" type="General" weightage="80" keywordseo="tata-steel" source="Orion">Tata Steel</keyword> emerging as major winners. "The Indian market continues to show resilience despite global challenges. Major indices like Nifty bank, auto, FMCG and cement are at record levels with only IT dragging the benchmarks," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/how-indian-equity-gold-and-debt-investments-have-performed-over-the-past-two-decades/articleshow/94304653.cms">Story in charts: How Indian equity, gold and debt investments have performed over the past two decades</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/if-india-can-import-dark-chocolate-why-cant-we-sell-imli-candy-abroad-says-this-startup-founder/articleshow/94309775.cms">If India can import dark chocolate why can’t we sell imli candy abroad says this startup founder</a>

Sensex climbs 672 points, aided by buying in banking counters

The collapse of Evergrande, one of China’s largest home developers, is “not a Lehman moment” but the fear may haunt steel and metal stocks in India

Technology company <keyword id="43706" type="General" weightage="80" keywordseo="honeywell" source="Orion">Honeywell</keyword> on Monday announced the appointment of <keyword id="1863390" type="General" weightage="100" keywordseo="rajesh-rege" source="Orion">Rajesh Rege</keyword> as country president for <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. As the country leader, Rege will head Honeywell's India strategy that focuses on the company's growth pillars of shaping a diversified portfolio of products and solutions tailored to the India market. "Rajesh Rege joins a highly capable leadership team in Honeywell's High Growth Regions (HGR) and Honeywell India and will help build strong stakeholder engagements, offer innovative solutions to customers, and develop winning teams that can drive strong growth," <keyword id="5561650" type="General" weightage="20" keywordseo="ben-driggs" source="Orion">Ben Driggs</keyword>, President, HGR, Honeywell said in a statement. Rege will be responsible for the continued growth of India operations across Honeywell's four strategic business groups: Aerospace, Honeywell Building Technologies (HBT), Performance Materials and Technologies (PMT), Safety and Productivity Solutions (SPS). Rege has more than 32 years of rich corporate experience and his last assignment was with Microsoft, where he was Executive Director, leading the Technology and Cloud Solutions business for India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-steels-stock-on-a-gaining-spree-led-by-doubling-profits-huge-debt-reduction-and-hopes-from-the-union-budget/articleshow/89398818.cms">Tata Steel is on a gaining spree. Thanks to doubling profits, huge debt reduction, and hopes from the union budget</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/nhpc-is-hiring-133-engineers-with-minimum-salary-29600-check-out-eligibility-criteria/articleshow/89398415.cms">NHPC is hiring 133 engineers with a maximum salary of ₹1,19,500 – Checkout eligibility, last date and other details</a>

Honeywell appoints Rajesh Rege as new India head

Mumbai, Jan 10 () Tata Steel on Friday said its Netherlands subsidiary has executed agreements for the refinancing of its bank debt and has raised term-loan facilities of EUR 1.75 billion from 19 banks.
 Tata Steel Netherlands Holdings B V (TSNHBV), a 100 per cent subsidiary of Tata Steel Ltd, has raised the long-term fund.
 "This represents a reduction of EUR 500 million versus the external debt outstanding in Tata Steel Europe as of March 2019, enabling the standalone European business to have a more robust balance sheet, while it is also putting in significant efforts at restructuring and improving its operating performance," the company said in a statement.
 The facilities have also been contracted at favourable terms and more efficient pricing, besides extending the maturity profile relative to the existing ones, it added.
 "The new financing has more flexible terms and better pricing that will provide greater financial headroom to the business in the coming years," said Koushik Chatterjee, executive director and chief financial officer, Tata Steel.
 The Company was able to complete this financing despite all the volatility in the financial markets, demonstrating the strong confidence enjoyed by Tata Steel in the financial community, the official added.
 Tata Steel Group is among the top global steel companies with an annual crude steel capacity of 33 million tonnes per annum.
 It is one of the world's most geographically-diversified steel producers, with operations and commercial presence across the world. NKD CS HRS

You Searched For "tata steel debt" and got 5 results

Vedanta plans to invest $20 bn in India in 4 years; will sell steel biz only at right price: Agarwal

PTI

Sensex climbs 672 points, aided by buying in banking counters

PTI

The collapse of Evergrande, one of China’s largest home developers, is “not a Lehman moment” but the fear may haunt steel and metal stocks in India

Bhakti Makwana

Honeywell appoints Rajesh Rege as new India head

IANS

Tata Steel's Netherlands subsidiary raises Eur 1.75 bn to refinance debt

PTI

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