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Govt raises objection over Vedanta's proposal to sell international zinc business to HZL

21 Feb 2023 Evaluate

The government has raised objection over Vedanta's proposal to sell its international zinc business to Hindustan Zinc (HZL) for $2.98 billion over concerns of valuation. The government is likely to explore legal options to stop the sale of the Africa-based assets to HZL, in which it holds a 29.54 per cent stake. HZL in January agreed to buy THL Zinc Mauritius from its parent, Vedanta, for $2.98 billion in phases over 18 months.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.

Vedanta Share Price

272.60 1.20 (0.44%)
10-Jul-2026 16:59 View Price Chart
Peers
Company Name CMP
Hindalco Industries 967.10
Vedanta 272.60
Hindustan Zinc 536.70
Jain Resource Recycl 340.75
CMR Green Tech 223.80
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