ED Carries Out Searches At Vedanta Offices In Foreign Exchange Investigation In Delhi, Mumbai
Vedanta shares erased early gains after news of the searches and were trading 0.3 per cent lower at Rs 336.25
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Vedanta shares erased early gains after news of the searches and were trading 0.3 per cent lower at Rs 336.25
Vedanta Ltd is a leading global producer of metals, critical minerals and technology.
Shares of NHPC fell nearly 5% to Rs 73.42 apiece on Tuesday after the government launched an offer for sale (OFS) to divest up to a 6% stake in the PSU. The OFS, which opened for non-retail investors on Tuesday, was priced at Rs 71 apiece, a discount of nearly 8% to the stock's previous closing price, weighing on investor sentiment.NHPC announced on Monday that the government aims to sell 3% of the companyโs total paid-up equity capital as part of the base offer. The government also retains an oversubscription option to sell an additional 30 crore shares, taking the total potential offer size to 60.27 crore shares or 6% equity. At the floor price of Rs 71 per share, this would be worth more than Rs 4,279 crore.The offer for sale opened for non-retail investors on June 2, while retail investors, eligible employees and non-retail investors carrying forward unallotted bids can participate on June 3.Also read: Vedanta shares fall after media reports of ED searches at Mumbai, Delhi officeThe government owned more than 67% stake in the PSU company as of March 31, 2026. NHPC, in its exchange filing, further said that the share sale by its promoter will be conducted through a separate window mechanism on BSE and the National Stock Exchange in accordance with the Securities and Exchange Board of Indiaโs OFS guidelines.NHPCโs OFS comes days after the government divested some of its stake in state-run miner Coal India through an offer for sale at a floor price of Rs 412 per share. The government owned more than 63% stake in the PSU company as on March 31, 2026.NHPC share priceNHPC shares have fallen more than 6% in one week and 12% in one month. The stock is down around 8% in 2026 so far and 16% in one year. In the longer term, the stock delivered 70% returns over three years and 185% over five years.Also read: Morgan Stanley says Indian stock market poised for strong year ahead. Hereโs why The company currently has a market capitalisation of more than Rs 73,760 crore. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The Enforcement Directorate (ED) has initiated searches against the Vedanta Group as part of a Foreign Exchange Management Act (FEMA) investigation. The action against the mining conglomerate, promoted by Anil Agarwal, commenced on Monday. Further details regarding the ongoing FEMA probe are yet to be disclosed by the central agency.
The searches are part of a Foreign Exchange Management Act (FEMA) violation investigation, they said
Justice Mini Pushkarna assessed if a company can buy anotherโs registered trademark as a keyword on Google Ads to have their ads appear first in searches for that trademark
Security forces are in the seventh day of a relentless hunt for two to three terrorists in Rajouri's dense forests. The joint operation, bolstered by helicopters, drones, and sniffer dogs, intensified with heavy firing and shelling. A terrorist hideout was also discovered and destroyed. Top officers are overseeing the critical anti-terror mission.
Searches carried out in Uttar Pradesh, Rajasthan, Bihar, and Maharashtra
The National Investigation Agency is conducting searches in four states. This is part of a probe into a Pakistan-linked terror plot. The plot involved drone-delivered arms and planned blasts in Indian cities. Investigators are targeting local supporters of the terror module. The operation aims to uncover a wider terror network.
In Ernakulam, searches are being conducted at the corporate office of CMRL in Aluva, the residence of its managing director Sasidharan Kartha, also in Aluva, and the office of a sister concern of CMRL
The CPI(M) leadership strongly condemned the searches, challenging that the BJP-led union government was using Central agencies to target opposition leaders through politically motivated actions
ED searches unfolded at 12 locations across Kerala, including residence of former Minister and T. Veenaโs husband, P.A. Mohamed Riyas, in Kozhikode, and houses of mining companyโs promoters, among other localities
The ED conducted searches at 10 locations in Kerala, including Pinarayi Vijayanโs rented residence in Thiruvananthapuram, in connection with the politically sensitive CMRL case.
Officials said the searches are part of an ongoing terror-related investigation.
Officers say another NIA team carried out searches at the residence of the former chief of the banned Jamaat-e-Islami
A team from New Delhi, along with CBI personnel in Nagpur, raided the houses of two students from Nagpur and one student from Brahmapuri taluka in Chandrapur district