Vedanta shares rise 2% after company appoints Ajay Goel as CFO
Vedanta, India's largest diversified natural resources company, rallied 2% to ₹219.40 per share during Wednesday's early trading session. This rise came after an exchange filing made by the company on Tuesday, announcing the appointment of Ajay Goel as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the firm, effective October 30, 2023, replacing Sonal Shrivastava, who resigned from the post of CFO and KMP of the company with effect from the close of business hours on October 24, 2023, due to personal reasons. Goel left his previous role at Vedanta earlier this year to join the education startup BYJU's.
However, he quit six months after joining. "As part of Vedanta’s structured re-hiring program called ‘Gharwapsi’, Mr Ajay Goel joins back the Company. Ajay was earlier associated with Vedanta as acting CFO & KMP of the Company from October 23, 2021, to April 09, 2023.
During his earlier role at Vedanta, Ajay contributed significantly in terms of driving business performance, managing the financial affairs of the company, and heading the finance function with his leadership acumen. He was also instrumental in successfully handling regulatory approvals, investment matters, capital allocation, investor relations, and major M&A-related affairs," the company said in an exchange filing. On October 03, Vedanta released its business update for the September quarter.
The company reported a 2% rise in its total aluminium production to 5,94,000 tonnes in the second quarter of FY24. The company’s total aluminium output in the July–September period of the last fiscal year was 5,84,000 tonnes. The mined metal output at Zinc India was down 1% to 2,52,000 tonnes from over 2,55,000 tonnes in the year-ago
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