External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>We visited Vedanta Ltd’s world-class assets in Odisha and Rajasthan and saw operations of its i) Aluminium smelter which is the world’s largest single-location smelter located at Jharsuguda, Odisha placed at 1st quartile of the cost curve,</li><li>ii) SK Mine at Dariba, Rajasthan, which is one of the largest zinc-lead producing assets globally and world’s second-largest silver producing mine, and lastly</li><li>iii) Its Oil &amp; Gas operations at Cairn India, which included Mangala well pads, Central polymer facility, and Mangala processing terminal visit.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We visited Vedanta Ltd’s world-class assets in Odisha and Rajasthan and saw operations of its i) Aluminium smelter which is the world’s largest single-location smelter located at Jharsuguda, Odisha placed at 1st quartile of the cost curve,ii) SK Mine at Dariba, Rajasthan, which is one of the largest zinc-lead producing assets globally and world’s second-largest silver producing mine, and lastlyiii) Its Oil &amp; Gas operations at Cairn India, which included Mangala well pads, Central polymer facility, and Mangala processing terminal visit.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Vedanta - Vedanta Ltd – Deleveraging + Project Execution Focus

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Yesterday, with earnings, <a href="https://www.smartkarma.com/entities/tata-motors-ltd" target="_blank" data-smartkarma-citation="entities:216:1" rel="noopener">Tata Motors Ltd (TTMT IN)</a> announced that it would delist its ADS, making an application on or around 13 January.</li>
<li>This sounds relatively benign because since 2004 when the ADS was listed, local funding capacity has increased substantially. It may no longer be needed. </li>
<li>But it is MUCH more interesting than that. There is lots of fun to be had here. </li>
</ul>


Yesterday, with earnings, Tata Motors Ltd (TTMT IN) announced that it would delist its ADS, making an application on or around 13 January.
This sounds relatively benign because since 2004 when the ADS was listed, local funding capacity has increased substantially. It may no longer be needed. 
But it is MUCH more interesting than that. There is lots of fun to be had here. 


Tata Motors ADS Delisting - Here We Go Again - Lots of Fun To Be Had!

Yesterday after the close, <a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a> made an announcement of Intention to delist American Depositary Shares from the New York Stock Exchange and terminate its American Depositary Share Program.This has been a big mover. <section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/231/745/original/Screenshot+2021-09-25+at+11.33.54+PM.png?1632584056" class="editor-image img-responsive" data-smartkarma-image-id="231745"></figure></section>The elimination of the ADS sets up a group of Very Interesting Possibilities and it is worthwhile working through what those possibilities are, and what the timing could be.

Yesterday after the close, Vedanta Ltd (VEDL IN) made an announcement of Intention to delist American Depositary Shares from the New York Stock Exchange and terminate its American Depositary Share Program.This has been a big mover. The elimination of the ADS sets up a group of Very Interesting Possibilities and it is worthwhile working through what those possibilities are, and what the timing could be.

Vedanta To Eliminate Its ADRs - Creates VERY Interesting Possibilities

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Forensic Accounting

<ul>
<li>The investigative analysis highlights a deceptive and confusing saga involving the Vedanta Group's semiconductor venture in India. </li>
<li>The group skillfully blurred the lines between <a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a>  and <a href="https://www.smartkarma.com/entities/vedanta-resources-ltd" target="_blank" data-smartkarma-citation="entities:22202:1" rel="noopener">Vedanta Resources (VED LN)</a>, creating an impression that the semiconductor business was under Vedanta Limited, despite previous clarifications. </li>
<li>Eventually, regulatory authorities penalized Vedanta for disclosure lapses, exposing governance concerns and a lack of transparency in this complex corporate maneuver.</li>
</ul>


The investigative analysis highlights a deceptive and confusing saga involving the Vedanta Group's semiconductor venture in India. 
The group skillfully blurred the lines between Vedanta Ltd (VEDL IN)  and Vedanta Resources (VED LN), creating an impression that the semiconductor business was under Vedanta Limited, despite previous clarifications. 
Eventually, regulatory authorities penalized Vedanta for disclosure lapses, exposing governance concerns and a lack of transparency in this complex corporate maneuver.


Vedanta's Sweet Semiconductor Saga: A Sour Tale of Deception and Governance

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Thematic (Sector/Industry)

<ul>
<li>Hyundai Motor India files for India's largest IPO, faces supply chain risks</li>
<li>Vedanta's growth initiatives aim to boost EBITDA to $10 billion</li>
<li>HFCL, India's only firm exempt from European optical fiber anti-dumping duties</li>
</ul>


Hyundai Motor India files for India's largest IPO, faces supply chain risks
Vedanta's growth initiatives aim to boost EBITDA to $10 billion
HFCL, India's only firm exempt from European optical fiber anti-dumping duties


#16 India Insight: Hyundai IPO, Vedanta Growth, HFCL Exemption

India

Vedanta Limited mines, produces, and exports base metals. The Company mines and distributes metals such as zinc, iron ore, copper, silver, and aluminium, as well as operates power plants. Vedanta markets its products worldwide.

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Vedanta Ltd (VEDL IN)

Vedanta - Vedanta Ltd – Deleveraging + Project Execution Focus

As a rule of thumb, 1 tonne of steel plant should fetch $1 Bn in valuation. Valuation: On a 12MF consensus basis, Vedanta Ltd is trading at 5.0x EV...

Axis Direct

Tata Motors ADS Delisting - Here We Go Again - Lots of Fun To Be Had!

Tata Motors will delist its ADS and eliminate its programme. Delisting will be late January. Elimination up to 6mos later. That means extraordinary...

Travis Lundy

Vedanta To Eliminate Its ADRs - Creates VERY Interesting Possibilities

VEDL is going to eliminate its ADS. This is not benign. For anyone. Near-term or short-term. There are opportunities in the interim.

Travis Lundy

Vedanta's Sweet Semiconductor Saga: A Sour Tale of Deception and Governance

Investigation reveals deceptive tactics by Vedanta Group in India's semiconductor venture, leading to regulatory penalties and exposing governance...

Nimish Maheshwari

#16 India Insight: Hyundai IPO, Vedanta Growth, HFCL Exemption

Hyundai Motor India files for largest IPO in India, Vedanta aims to boost EBITDA to $10 billion, HFCL exempt from European optical fiber anti...

Sudarshan Bhandari

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Vedanta - Vedanta Ltd – Deleveraging + Project Execution Focus

As a rule of thumb, 1 tonne of steel plant should fetch $1 Bn in valuation. Valuation: On a 12MF consensus basis, Vedanta Ltd is trading at 5.0x EV...

Axis Direct

Tata Motors ADS Delisting - Here We Go Again - Lots of Fun To Be Had!

Tata Motors will delist its ADS and eliminate its programme. Delisting will be late January. Elimination up to 6mos later. That means extraordinary...

Travis Lundy

Vedanta To Eliminate Its ADRs - Creates VERY Interesting Possibilities

VEDL is going to eliminate its ADS. This is not benign. For anyone. Near-term or short-term. There are opportunities in the interim.

Travis Lundy

Vedanta's Sweet Semiconductor Saga: A Sour Tale of Deception and Governance

​Investigation reveals deceptive tactics by Vedanta Group in India's semiconductor venture, leading to regulatory penalties and exposing governance...

Nimish Maheshwari

#16 India Insight: Hyundai IPO, Vedanta Growth, HFCL Exemption

​Hyundai Motor India files for largest IPO in India, Vedanta aims to boost EBITDA to $10 billion, HFCL exempt from European optical fiber anti...

Sudarshan Bhandari

Investigation reveals deceptive tactics by Vedanta Group in India's semiconductor venture, leading to regulatory penalties and exposing governance...

Hyundai Motor India files for largest IPO in India, Vedanta aims to boost EBITDA to $10 billion, HFCL exempt from European optical fiber anti...