ET NEWS

Russia does not consider the deployment of NATO troops in Ukraine a viable solution to the conflict, and views recent statements from the UK on the matter as provocative, the Russian Foreign Ministry said. "At a time when there is a genuine push for a comprehensive, fair, and lasting resolution to the conflict around Ukraine, including addressing its root causes, statements continue to emerge from London that not only contradict the efforts of Moscow and Washington, but also appear aimed at undermining them," the ministry said.

Gem Aromatics, a manufacturer of speciality ingredients, on Monday mobilised over Rs 135 crore from anchor investors, ahead of its initial public offering (IPO) opening for subscription. Some of the institutions that participated in the anchor round includes Citigroup Global, Societe Generale, Goldman Sachs, Nippon India Mutual Fund, SageOne, Nuvama, and Niveshaay Sambhav Fund, according to a circular uploaded on BSE's website. As per the circular, the company has allocated 41,65,383 equity shares at Rs 325 per piece to anchor investors, aggregating the transaction size to Rs 135.37 crore. The Rs 451-crore IPO would open for subscription on August 19 and conclude on August 21. The price band has been set at Rs 309 to Rs 325 per share. The IPO is a mix of fresh issue of equity shares worth up to Rs 175 crore and an offer for sale (OFS) of up to 85 lakh shares valued at Rs 276.25 crore. Proceeds from the fresh issue will be used by Gem Aromatics for debt repayment and general corporate purposes. Gem Aromatics is a manufacturer of specialty ingredients in India, including essential oils, aroma chemicals, and value-added derivatives, with over two decades of experience. Its client portfolio includes names like Colgate-Palmolive, Dabur, Patanjali, SH Kelkar, Rossari Biotech, and Symrise, among others. The company operates three advanced manufacturing facilities located in Uttar Pradesh, Dadra and Nagar Haveli, and Gujarat. Gem Aromatics' revenue from operations increased by 11.38 per cent to Rs 503.95 crore in fiscal 2025 from Rs 452.45 crore in the previous fiscal, and profit rose 6.55 per cent to Rs 53.38 crore for fiscal 2025 from Rs 50.10 crore in the preceding financial year. Motilal Oswal Investment Advisors is the sole book-running lead manager, and KFin Technologies is the registrar to the offer.

Metal major Vedanta's board of directors will meet on Thursday, August 21 to consider and approve the second interim dividend on equity shares for the financial year 2025-26. The company has fixed the record date to determine the eligibility of shareholders for dividend on Wednesday, August 27.Vedanta's first interim dividend was Rs 7 per share which was announced on June 18. The payout was Rs 2,737 crores. Vedanta has declared 44 dividends since September 9, 2003 according to Trendlyne data. In the past 12 months, Vedanta has declared an equity dividend amounting to Rs 35.50 per share. At the current share price of Rs 438.20, Vedanta's dividend yield is 8.10%.The company posted its first quarter results for FY26, reporting a 11.7% year-on-year (YoY) decline in its consolidated net profit to Rs 3,185 crore. However, the company’s revenue from operations rose by 5.75% YoY to Rs 37,824 crore, up from Rs 35,764 crore reported a year ago.The net profit is comparable to Rs 3,606 crore posted in the same quarter of the previous financial year. The net profit is attributable to the owners of the company.Sequentially, the company’s profit attributable to the owners declined by 8.5%, down from Rs 3,483 crore reported in the previous quarter.Vedanta, in its press release, had then informed that the company’s net debt/ EBITDA stood at 1.3x and the credit rating is reaffirmed at AA. The Anil Aggarwal-led company also recorded its highest ever first-quarter EBITDA at Rs 10,746 crore (5% jump YoY), supported by margin expansion of 81 bps to 35%.With Lanjigarh recording its highest-ever Alumina production at 587 kt (+9% YoY), Vedanta is on track to achieve 3 MMT record volume in FY26. Additionally, the company has also commissioned 950 MW of Merchant Power Capacity YTD, taking the total merchant power generation capacity to 3.83GW.