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Vedanta readies for post-Covid economic recovery, strengthens its Advisory Board by appointing former Secretary, GoI and ex-SAIL Chief

Posted On: 2020-07-09 04:28:17


Vedanta, India's largest diversified natural resources company with a prominent global footprint has announced two senior level appointments as it readies for the next phase of growth post-Covid, with full commitment to the Prime Minister's call for an atmanirbhar Bharat. Over 50 percent of India's imports are in the natural resources sector.

Jitendra Kumar Dadoo who retired in the rank of Secretary to Government of India in December, 2017 has been appointed as a Senior Advisor. Dadoo, an Economics graduate from St. Stephen's College, Delhi and MBA from IIM Ahmedabad, is a 1983 batch IAS officer. In his long and illustrious career, he served in several key positions, including Chairman, Delhi Civil Supplies Corporation, Additional Secretary and Joint Secretary, Department of Commerce, Government of India. He will work closely with the Corporate Strategy team and Hindustan Zinc's management committee to drive key business initiatives. Said Dadoo on his appointment, "Over the years, Vedanta has made very significant contributions to the industry and the nation. I am excited about joining Vedanta at a time when it is focused on building a self-reliant India." Dadoo joins the eminent Advisory Board at Vedanta which includes Foreign Secretary, Ranjan Mathai, former Economic Affairs Secretary, R. Gopalan and former Petroleum and Natural Gas Secretary, Saurabh Chandra on Vedanta's eminent Advisory Board.

Prakash Kumar Singh, former Chairman and Managing director of Steel Authority of India Limited, has joined Vedanta's Electrosteel Steels Limited (ESL) as President - Growth Projects. A metallurgical engineer from IIT, Roorkee, Singh will be an integral part of ESL's management committee and will play a key role in driving marketing, policy and growth. Said Singh on his appointment, "Vedanta ESL has been a great turnaround story over such a short period of time. The company is in an exciting phase of growth and I look forward to partnering in this journey."

Commenting on both appointments, Vedanta CEO Sunil Duggal said, "We are delighted to have Mr Singh and Mr. Dadoo join our illustrious advisory board. We look forward to an enriching engagement with them to leverage their vast experience and expertise."

Shares of Vedanta Limited was last trading in BSE at Rs.112.05 as compared to the previous close of Rs. 110.4. The total number of shares traded during the day was 946689 in over 4947 trades.

The stock hit an intraday high of Rs. 114.4 and intraday low of 111.25. The net turnover during the day was Rs. 106914922.


Source: Equity Bulls

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