Filipino jewellery sector to embrace new strategies to stay relevant in challenging times
February 25, 2025
Kalo Gold identifies 3 gold depositional environments in Fiji
February 25, 2025Anil Agarwal-led Vedanta shares will be in focus after they secure a diamond mine in Madhya Pradesh.
Vedanta shares will be attention-grabbing after securing the highest bid for Madhya Pradesh’s Kauhari Diamond Block, spanning 643.42 hectares. Vedanta’s Q3 consolidated net profit surged 76% YoY to Rs 3547 crore, with a 10% rise in revenue. Analysts recommend buying with a target price of Rs 513, indicating a 17% upside from current levels.
According to the tender document, the Kauhari Diamond Block is at the G4 level of exploration, covering a total area of 643.42 hectares. The final grant of the licence is subject to necessary payments and regulatory approvals.
The company announced that the Madhya Pradesh Department of Geology and Mining had invited tenders for the Kauhari Diamond Block through e-auction for a composite licence. Vedanta participated in the live e-auction and, via a notification dated February 20, 2025, was declared the highest bidder with a final price offer of 1.10%.
