BondEvalue

Credit

Vedanta Resources’ credit rating outlook has been revised up to stable from negative by S&amp;P Global Ratings while maintaining the current rating of B-. The rating action comes as the rating agency believes that refinancing risks of the company have reduced and considers its offer to increase its ownership in its subsidiary Vedanta Ltd. as a positive. Vedanta Resources is likely to conclude its open offer to acquire an additional 10% stake in its 55%-owned subsidiary Vedanta Ltd. by March this…

Hedge Fund Kyma Capital, which holds shares in Vedanta Ltd. (Indian subsidiary of Vedanta Resources Ltd (VRL)) plans to lodge a complaint with the US SEC over $956mn in loans by Vedanta Ltd. to its parent, according to a source. The hedge fund founded by ex-Blackstone trader Akshay Shah wants this amount to be repaid to Vedanta, which <a href="https://iar.vedantalimited.com/InteractiveAnnualReport_FY20/static/Integrated-Annual-Report2019-20-d8d8512ff591a8c893c84c2b6581247d.pdf?utm_campaign=BEV%20Newsletter&amp;utm_source=hs_email&amp;utm_medium=email&amp;_hsenc=p2ANqtz-_pHSlikV0zXRnBKTWEhN9coxG7CGmxX3DpcXhsxbHeKyfC4ZHa1LlRFWG62R2KyFdgstGg" target="_blank" rel="noopener noreferrer">reported these loans</a> in its annual report published last September. “The debt at Vedanta Limited is sustainable. The trouble is what is happening at the…

<img class="CToWUd a6T aligncenter" tabindex="0" src="https://ci5.googleusercontent.com/proxy/XKHbgJVpKYLKtPO5t58VJh1oTE3tsnt6RbIATxRmjX4Zf8Sh-XPR1QnQNyOtTrndPMSlE-QaIrEUU2LCEe8OkiaCq2T1xz_VaFx-7Tx_mEkb1ZJYWywFYE5kYay80cFwkrUpU2fXzs3yLOKwFnrKbXDyUvVJ_2f7QwzudRnD4YpG2pBAtvSzn_sgypg-_4yq1fa1PWvPq28l2InMpWOgQ8LWzuSaf0CCG-OwS2d6RvoHhvSQJF2AaV0jWUCjdtrdEqKvUy_Dlg=s0-d-e1-ft#https://blogs.bondevalue.com/hs-fs/hubfs/US%20Benchmark%20%26%20Global%20Indices%2012%20Jan.png?width=1500&amp;upscale=true&amp;name=US%20Benchmark%20%26%20Global%20Indices%2012%20Jan.png" alt="US Benchmark &amp; Global Indices 12 Jan" width="750" align="center">
S&amp;P and Nasdaq saw their rallies come to a halt with the indexes down 0.7% and 1.3% on Monday. Tesla fell 7.8% while Twitter fell 6.4% after permanently suspending Trump’s account. European equities also had a similar move, down 0.3-0.8%. While elements of risk-off were observed in stock markets, government bonds continued to firm as German Bund yields and US 10Y Treasury yields were 4bp higher each. With regard to the Fed’s interest rate path, Kenneth Broux, a strategist at SocGen said…

<img class="CToWUd a6T aligncenter" tabindex="0" src="https://ci5.googleusercontent.com/proxy/x_z8TxQjrPSEZMMfZhNVO0owwL-j6MvUO35nm7zEBldoaMhGmOInDmvIuJ6guVK7n6MUfRByGcIXy1hkU8VK98kBO5t3NLsogG2Dl37v4jiRicwiaqapfYsJi89Pcy69xm9uQUXmnw-18EDcJ2LeVEe841LSCcY1Lnl_G3pC8WtDN31naK5vixxOjxPVUE_q6qbDv8hfVYCO_ezg4GEOKSGBzFvixCVlGkSDZ0EMOh4VG8ximpUshAfntsyUgeVsyt_Zvyw=s0-d-e1-ft#https://blogs.bondevalue.com/hs-fs/hubfs/US%20Benchmark%20%26%20Global%20Indices%205%20Jan.png?width=1500&amp;upscale=true&amp;name=US%20Benchmark%20%26%20Global%20Indices%205%20Jan.png" alt="US Benchmark &amp; Global Indices 5 Jan" width="750" align="center">
US equities ended lower with the S&amp;P and Nasdaq falling 1.5%. Polls of Georgia’s Senate runoff showed two Democratic candidates with chances of winning their respective races – this could give Joe Biden control of the Senate and might lead to higher corporate taxes and regulations. Meanwhile the UK’s FTSE rallied 1.7% even as the nation went into a level 5 lockdown. US 10Y Treasury yields were steady at 0.91%. US IG CDS spreads were 2.6bp wider and HY was 11bp wider. EU main and crossover CDS…

<img class="CToWUd a6T aligncenter" tabindex="0" src="https://ci6.googleusercontent.com/proxy/Aa0YoH6-TkeAppa9vpxj9mw77zF8fm6xmHEC1GUjTQ8iAKkBwvHaWQzDRssC1WoQWSLaRzA5G8Sr40bcCN7od_wXyaR2sSdhF_kFQqBox6mblA9grYtgRfaW5azp88viD8NHRPxcSk5aOaJpSQiOeK0wTHLj78FxeKIglf28RmROeHp9lu5B3Huq3XeIDfEyKpGDPB8DsHG9wWtW-kC5ZaRbvqTx_HoLvYXZG6vi2aZSnYQ33_Rv_hlqZY27WiyLans5dJKueGO4ihOlcqv7g18=s0-d-e1-ft#https://blogs.bondevalue.com/hs-fs/hubfs/US%20Benchmark%20%26%20Global%20Indices%204%20Jan%20(1).png?width=1570&amp;upscale=true&amp;name=US%20Benchmark%20%26%20Global%20Indices%204%20Jan%20(1).png" alt="US Benchmark &amp; Global Indices 4 Jan (1)" width="785" align="center">
US equity markets closed on an upbeat note on the last trading day of 2020 with the S&amp;P and Dow up 0.6%, ending the year with gains of 16% and 6.8% respectively. Andrew McCaffery, Global CIO at Fidelity explained the strong investor sentiment stating, “In 2020, investors consistently chose to believe the best-case scenario, buoyed by liquidity from the Fed and other major central banks” and sounding warning bells by adding, “I’m concerned this optimism will not always be matched by the economic…

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00