AL Circle Analysis: From bauxite to trade, how supply risks are reshaping aluminium competitiveness
The aluminium industry is entering a phase where supply security is being tested across the entire value chain. The latest developments show the pressure beginning with bauxite, moving through logistics and alumina, feeding into aluminium prices and producer earnings, and eventually reshaping...
Hindalco’s 8.5Mt Baphlimali mine secures India’s first ASI certification
Hindalco Industries’ Baphlimali bauxite mine in Odisha has become the first bauxite mining operation in India to secure certification under the Aluminium Stewardship Initiative’s (ASI) Performance Standard V3.1 (2023). The certification was awarded to Utkal Alumina International Limited (UAIL), a...
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Hindalco Q2 profit down 78% on fines, provision
Hindalco BSE 0.20 % Industries reported a second quarter net profit of INR 78.77 crore, down 78% from INR 357.11 crore in the corresponding quarter last year, as the aluminium maker paid a huge fine as directed by the Supreme Court in September and took a one-time charge on a poorly performing unit...
Hindalco to revive its QIP plans
Hindalco Industries Ltd. limited is supposedly going ahead with their plan of raising funds by selling shares to institutional investors, said bank sources who are dealing directly with the case. Hindalco had planned to initiate the qualified institutional placement (QIP) issue long back but...
Novelis boost likely for Hindalco
After negative news on coal blocks, bauxite mining, etc, Hindalco’s investors have something to cheer about. The performance, as well as estimates, for US-based Alcoa for the September quarter means Hindalco’s international subsidiary (Novelis) could also post better than expected earnings for the...
Alcoa’s results light up Hindalco
Shares of aluminium major Hindalco were up 5 per cent on Thursday, after a stellar performance from its global peer, Alcoa, during the September quarter. During the latest quarter, Alcoa’s income increased six-fold year-on-year, on the back of improved prices and lower input costs. Average...
Durga Puja at Utkal Alumina plant site draws thunderous applause
With the perfect combination of stage decoration and laser lights, lavishly decorated puja pandals adding to the festive mood and roadside delicacies that one can experience only at the fairs and ceremonial events puja pandal at Doraguda based Utkal Alumina plantsite filled with thunderous applause...
Hindalco chairman outlines the progress of Hindalco this year
Hindalco chairman, Kumar Mangalam Birla announced on Wednesday that they will double their alumina and aluminium capacity after their mega-expansion plans are complete. He also added that their consolidated capital expenditure amounted to $1.5 billion. Adressing the 55th annual Aditya Birla Group...
Hindalco’s six bauxite mine will be issued renewed leases by six months
As Hindalco Industries Ltd waits for its mining lease to be renewed in Jharkhand, they say that they are not too concerned about the wait and neither should it interfere with the performance of the company. In a note to National Stock Exchange on Wednesday, Hindalco explains that their renewals...
Indian aluminium sector grows following global cues
Indian aluminium industry is gaining strength in the past two weeks as the aluminium prices move forward and the international market is gaining ground, enough to make the Indian aluminium sector to start participating in the global aluminium market. Breaking out of the dismal average price-per-ton...
Jharkhand govt shuts 5 Hindalco bauxite mines
The Jharkhand government has shut five bauxite mines of Hindalco Industries, flagship company of the Aditya Birla Group. This follows a report by the Shah commission on illegal mining, which had alleged such mining was causing widespread damage to the environment and losses to the exchequer....
Hindalco and Sesa Sterlite seeking new market for their growing aluminium output
By the end of this fiscal year, India’s aluminium production capacity is going to rise to about 4.36 mt, a huge leap from 1.71 mt in 2012. The local demand however is less than half that number so the big guns in the industry, like Sesa Sterlite Ltd and Hindalco Industries Ltd, who have grown...
Bauxite mining comes to halt at Hindalco mine
Bauxite mining by Aditya Birla owned Hindalco Industries has came to a grinding halt in the Mali Parbat area near Semiliguda in south Odisha's Koraput district with the district administration imposing prohibitory orders under Section 144 of CrPC. The prohibitory orders have been clamped in the...
World's biggest aluminum supplier says automotive-grade sales will triple
Novelis, based out of Atlanta, is the largest supplier of aluminum sheet to the auto industry, counting Ford, Audi and Jaguar among its clients. It's owned by Mumbai, India-based metals company Hindalco, the world's largest producer of aluminum sheet, and company reps see the aluminum market and...
No clarity on Mahan pushes Hindalco to import coal
Hindalco Industries Ltd is importing coal for its aluminium plants amid lack of clarity on when the controversial Mahan coal project in Madhya Pradesh may be cleared, showing the government’s inability to fast track projects and pushing companies to resort to costly imports. “Our problem is that we...
Aluminium outlook improves on rising deficit
In 2007, the height of the global commodities boom, Aditya Birla Group Chairman Kumar Mangalam Birla and Tom Albanese, chief executive of Vedanta Resources chief executive and former chief executive of Rio Tinto, made landmark purchases of aluminium assets. Ignoring the advice of his colleagues at...
Hindalco Q1 profit drops 31% on high fuel, finance cost
World's largest aluminium rolling company Hindalco Industries missed street expectations with the first quarter net profit falling 30.9 percent year-on-year to INR 327.5 crore dented by higher power and fuel, finance, and raw material costs. Profit in the corresponding quarter of last fiscal was...
Hind Aluminium Industries standalone quarterly earnings plunges 74.58%
Hind Aluminium Industries said a substantial drop in standalone net profit for the quarter ended June 2014. During the quarter, the profit of the company declined 74.58% to INR 8.67 million from Rs 34.10 million in the same quarter previous year. Net sales for the quarter declined 34.23% to INR...
Hindalco slides as Novelis' profit lags some estimates
Hindalco Industries lost 3.83% to INR 182 at 12:01 IST on BSE, after the company's US subsidiary Novelis reported Q1 June 2014 operating profit that lagged some estimates. Meanwhile, the BSE Sensex was down 247.70 points, or 0.97%, to 25,341.31 On BSE, so far 2.41 lakh shares were traded in the...
Hindalco plans share sale to raise INR 5,000 crore
Hindalco Industries Limited, the metals flagship company of the Aditya Birla Group and a global leader in aluminium and copper, on Friday announced plans to raise up to INR 5,000 crore ($829.5 million) through sale of shares to institutions or through other options. Hindalco Industries Ltd today...
