{"id":607305,"date":"2023-09-30T09:58:00","date_gmt":"2023-09-30T04:28:00","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=607305"},"modified":"2023-09-30T10:36:32","modified_gmt":"2023-09-30T05:06:32","slug":"vedanta-to-spin-off-list-six-businesses-in-growth-push","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/vedanta-to-spin-off-list-six-businesses-in-growth-push\/","title":{"rendered":"Vedanta to spin off, list six businesses in growth push"},"content":{"rendered":"<p>Billionaire Anil Agarwal&#8217;s Vedanta Ltd said on Friday it would split the company into six separate listed businesses as the metals-to-oil conglomerate seeks to boost growth amid a slump in its financial performance. <\/p>\n<p>The company&#8217;s UK-based parent, Vedanta Resources, has seen major agencies cut its ratings on concerns over debt repayments, with SP Global Ratings downgrading it to &#8220;CCC&#8221; from &#8220;B-&#8221; on Friday and placing it on credit watch. <\/p>\n<p>Vedanta Ltd shares have lost 28 per cent so far this year, compared to a near 2 per cent rise in the Nifty Metal index, dragged lower by a string of poor results due to weakness in metal prices and as Foxconn backed out of a $19.5 billion chips joint venture with the company.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire Anil Agarwal&#8217;s Vedanta Ltd said on Friday it would split the company into six separate listed businesses as the metals-to-oil conglomerate seeks to boost growth amid a slump in its financial performance. The company&#8217;s UK-based parent, Vedanta Resources, has seen major agencies cut its ratings on concerns over debt repayments, with SP Global Ratings downgrading it to &#8220;CCC&#8221; from &#8220;B-&#8221; on Friday and placing it on credit watch. Vedanta Ltd shares have lost 28 per cent so far this year, compared to a near 2 per cent rise in the Nifty Metal index, dragged lower by a string of [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,177],"tags":[],"class_list":["post-607305","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/607305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=607305"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/607305\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=607305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=607305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=607305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}