Vedanta rises as its aluminium business gets ASI performance standard certification!

Vedanta rises as its aluminium business gets ASI performance standard certification!

by 5paisa Research Team Last Updated: May 11, 2023 - 10:03 am 663 Views
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Vedanta Group is engaged in the exploration, production and sale of zinc, lead, silver, copper, aluminium, iron ore and oil & gas. 

ASI Certification program 

Vedanta Aluminium, a business of Vedanta, has achieved the ASI Performance Standard V2 (2017) Certification at its smelter located within the Special Economic Zone at Jharsuguda, Odisha, India. The company was certified for the manufacture of all primary aluminium products in the form of billets, wire rods, primary foundry alloys (PFA), ingots and sow ingots, as well as its 'Restora' brand of low-carbon aluminium products. 

The ASI Certification program was developed through an extensive multi-stakeholder consultation process and is the only comprehensive voluntary sustainability standard initiative for the aluminium value chain. The ASI Performance Standard V2 (2017) defines environmental, social and governance principles and criteria, with the aim to address sustainability issues in the aluminium value chain. It sets out 59 criteria under the three sustainability pillars of Environment, Social, and Governance, which address key issues such as biodiversity, labour rights, Indigenous Peoples rights, and greenhouse gas emissions. 

Share price movement of Vedanta Limited      

Today, the stock opened at Rs 286.00, with a high and low of Rs 287.60 and Rs 283.85. Currently, the stock is trading at Rs 286.60, up by 1.02%.

The stock has a 52-week high of Rs 352.95 and a 52-week low of Rs 206.10. The company has ROE and ROCE of 30.0% and 32.2% and a market capitalisation of Rs 1,06,516 crore.        

Company profile  

Vedanta is a diversified natural resource group engaged in exploring, extracting and processing minerals and oil & gas. It has a presence across India, South Africa, Namibia, Ireland, Liberia & UAE. Its other businesses include commercial power generation, steel manufacturing & port operations in India and manufacturing of glass substrates in South Korea and Taiwan.

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