06 Jan , 2022 By : monika singh
NEW DELHI – Shares of Vedanta NSE 1.87 ?ded1.5 per cent Thursday after the mining major said that its aluminium business had entered into a pact with GEAR India to deploy one of the largest fleets of lithium-ion battery-powered electric forklifts in the country.
The company will commission 23 such forklifts in a phased manner over the next few months at its aluminum smelter in Jharsuguda, Odisha.
Vedanta’s scrip rose to a high of Rs 338.75 against the previous close of Rs 333.85 on the National Stock Exchange.
“Vedanta Aluminium is committed to achieving Net Zero Carbon emissions by 2050. Our partnership with GEAR to deploy one of India’s largest and most advanced forklift fleets is in line with our endeavour towards leveraging the power of innovation and technology to make our operations future-ready,” Rahul Sharma, CEO – Aluminium Business, Vedanta Limited, was quoted as saying in reports.
Shares of Vedanta had taken a beating earlier in the week, shedding over 6 per cent on Thursday as investors were left underwhelmed by the company’s aluminium production numbers.
Earlier this week, Vedanta said 5,79,000 tonnes of cast metal aluminium production was recorded at its smelters in the quarter ended December 31, 2021, registering an increase of a mere 2 per cent from a quarter ago.
In a separate development, the National Company Law Appellate Tribunal has set aside an order by the Mumbai Bench of the National Company Law Tribunal (NCLT) approving the resolution plan for Videocon by Vedanta's Twin Star Technologies. The tribunal has asked the committee of creditors for fresh bids.
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