See huge opportunity in steel biz as well as in oil & gas sector: Vedanta

Vedanta reported a mixed set of Q2 earnings. In an interview to CNBC-TV18, Kuldeep Kaura, Interim CEO of the company discussed their Q2 performance.

On the aluminium side, market has been developing very well and there have been some constraints in supply. Mainly in China, there might be some restrictions because of the environment factors and winter coming in. So market will remain stable to my mind, he said.

On zinc, he believes the demand is going up and possibly supplies will catch up over a period of time. Outlook for zinc prices is stable, plus or minus something, he added.

Coal supplies and prices have gone up. Our materialisation percentages from linkages have been a bit lower than expected. That leads to this cost increase, said Kaura.

He expects coal availability to improve in q4 as domestic coal supply improves.

We have a very strong balance sheet. It gives us immense opportunities to grow and assuming Indian growth at plus or minus 8 percent, in ten years’ time, the demand for metals will grow to about three times the current size of the market, he further mentioned.

Believe there is a huge opportunity in steel business, he said.

It is a huge opportunity for us to look at oil and gas sector and also invest in further enhancing our crude production capabilities, Kaura added.

For full interview, watch accompanying video...