Over the course of four decades, Agarwal painstakingly built Vedanta into a $10 billion conglomerate. However, facing the risk of overwhelming debt, he is now considering dismantling the company. The pressure is escalating on this entrepreneur who began his journey as a scrap metal trader. Specifically, there is a looming challenge: a $1 billion payment due in January, with $600 million still unfunded. This deficit might necessitate the sale of assets. One potential solution to alleviate the debt burden could involve separately listing different business segments, effectively tackling the financial challenges confronting the company.
Tech view: Breakdown below 24,400 may open doors for 24k in Nifty. How to trade tomorrow
A long bear candle has been formed on the daily chart, indicating a decisive downside breakout of 24,600-24,500 levels. Nifty is currently weakening after forming
October 22, 2024