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Vedanta Gets Top Court Nod to Bid for Nalco’s Alumina Tenders

  • National Aluminium’s tenders were meant only for exports
  • National Aluminium, Vedanta shares advance in Mumbai
Aluminium ingots stacked at Vedanta Ltd.’s Aluminium Smelter in Odisha, India.
Photographer: Dhiraj Singh/Bloomberg

India’s top court has allowed Vedanta Ltd. to bid for alumina sale tenders by state-run National Aluminium Co., providing some relief to Anil Agarwal’s aluminum unit that is seeking to boost supplies of the raw material.

A three-judge Supreme Court panel said Vedanta’s foreign units can bid for Nalco’s alumina tenders meant for exports. If Vedanta’s bid is successful, the company can use the raw material at its Jharsuguda plant in the eastern state of Odisha after picking it up from Visakhapatnam port, it said.