Stocks to Watch: Vedanta, LIC Housing Finance, Reliance Industries, Signature Global, SJVN
Vedanta: Parent of Mumbai-based mining giant Vedanta Limited, Vedanta Resources has plans to reduce its debt by as much as $3 billion over the next three years, according to a senior official at an analyst meeting. The company has no plans to roll over its loans in the upcoming years. “Our priority is deleveraging.
We plan to reduce Vedanta Resources’ debt by $3 billion in the next three years. The pre-growth capex cash flow of Vedanta Ltd is projected to be USD 3.5-4 billion for the fiscal year 2025, which is adequate for secured debt maturities of USD 1.5 billion," said Navin Agarwal, Vice Chairman of Vedanta Ltd and a member of the Promoter Group at an analysts’ meeting, reported PTI. LIC Housing Finance: The company is strategizing to accumulate capital via green bonds in the forthcoming fiscal year, with an objective to fund eco-friendly housing projects.
“In the upcoming year, we will explore green financing and utilize the funds for financing green housing projects," said Tribhuwan Adhikari, Managing Director and CEO of LIC Housing Finance, reported PTI. The company has scheduled a board meeting on March 7 to discuss the borrowing strategy for the fiscal year 2024-2025. LICHFL hopes to hit the net profit of ₹5,000 crore milestone by the end of current financial year on the back of robust loan demand and expansion in non-core business, added Adhikari.
Signature Global: Real estate firm Signature Global announced on Sunday that it has sold over 1,000 apartments in its luxury housing project in Gurugram, generating more than ₹3,600 crore. This success is attributed to the robust demand for residential properties, particularly in the luxury segment. In a regulatory filing, the company disclosed that it has achieved
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