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 pushes aluminium, faces difficulties in copper
Aditya Birla group’s company expansion plans are still entirely focused on the aluminium and alumina business, where the company embarked on a $5.5 billion capital expansion plan in 2009. As part of this, it started work on new projects in Madhya Pradesh, Odisha and Jharkhand. The company is...
Hindalco Q3 net down 23% to INR 334 crore
Hindalco Industries' net profit for the third quarter ended December was INR 334 crore, down 23% compared with INR 434 crore a year ago, hurt by weak demand for aluminium and higher taxes. Analysts were expecting a standalone net profit of INR 364 crore, according to a poll conducted by Bloomberg....
Hindalco Industries stocks fall after Novelis declares Q3 results
Hindalco Industries fell 1.17% to Rs 105.60 at 10:42 IST on BSE after the company's US subsidiary Novelis reported its Q3 results on Monday, 10 February 2014. Meanwhile, the BSE Sensex was up 71.20 points, or 0.35%, to 20,405.47 On BSE, so far 2.21 lakh shares were traded in the counter, compared...
Indian companies may not gain from global aluminium rally
Investors note, the recent upswing in aluminium premiums in the US and Europe may not benefit Indian aluminium manufacturers - Hindalco Industries and Nalco - as such premiums have been relatively stable in Asia. Aluminium prices on LME continue to be muted with production exceeding demand coupled...
Hindalco falls post peer Alcoa letdown on earnings
Shares in Hindalco Industries fall 1.2 percent after its global peer Alcoa Inc, the largest US aluminium producer, reported a massive quarterly loss on Thursday and gave a stagnant outlook on global aluminium demand. Excluding the impairment charge of USD 1.7 billion on smelter acquisitions and...
Utkal Alumina yet to reach full capacity
Utkal Alumina International Ltd (UAIL), a subsidiary of Aditya Birla owned Hindalco Industries, is yet to reach its full envisaged capacity of 1.5 million tonne per annum (mtpa) after starting of operation in June last year. So far, the company has managed to achieve 70-75 per cent capacity...
Underperform rating on Hindalco shares
Hindalco Industries Ltd, caught in a weak global aluminium cycle, is facing headwinds in domestic operations. While commissioning of long-awaited Greenfield capacities (Utkal refinery and Mahan smelter) will aid volume growth, lack of captive coal and high capex costs will lead to losses. We remain...
No brighter outlook for Indian metal companies in 2014
Subdued domestic demand due to a poor investment cycle, the coming general elections in India and important developments in the global markets are expected to keep the excitement out of metal companies for most of 2014, analysts and industry officials say. With general elections a few months away...
Tribals step up stir at Hindalco bauxite mining site
Tribals at Koraput in Odisha have threatened to intensify their stir, if Hindalco went ahead with its plan of resuming bauxite mining at Mali Parbat. The mine used to feed the company’s aluminium plant at Renukoot in Uttar Pradesh. Spread over 270 acres, the mine stopped operation in 2010 in the...
Hindalco gets Neutral rating
Hindalco Industries (Hindalco) aims to produce 300-350kt of alumina from Utkal refinery (1.5mtpa alumina refinery) in FY2014 and 1mn tonne in FY2015. In case of Mahan smelter (359ktpa aluminium smelter), the company aims to produce 50-60kt in FY2014 and over 200kt of aluminium in FY2015. The...
Aditya Birla Group plans to hike stake in Hindalco
Home-grown conglomerate Aditya Birla Group aims to hike stake in group companies. CNBC-TV18 learns from sources the AB Group may spend Rs 6,000 crore for stake hike. It is looking to hike stake in Hindalco and Grasim to 40-45 percent. As of June 30, 2013, promoters' holding in Hindalco stood at 33...
Hindalco Industries gets 'buy' rating
The Hindalco Industries' subsidiary, Novelis Q2FY14 adjusted Ebitda (earnings before interest, taxes, depreciation and amortisation) of $ 228 million as well as volumes and Ebitda/tonne were on expected lines. Novelis also implicitly guided for H2FY14 volume and Ebitda growth of 10% year-on-year...
Hindalco Q2 net profit seen up 25%; stock rallies over 2%
Hindalco Industries Ltd gained as much as 2.5 per cent in a weak market on Tuesday ahead of its results for the quarter ended September 30. The world's largest aluminium rolling company is expected to report a 25 per cent YoY increase in net profit to Rs 450 crore for the second quarter if the...
Hindalco inches up amid volatility as US subsidiary announces price hike
Hindalco Industries rose 0.73% to Rs 116.85 at 13:09 IST on BSE after the company's US subsidiary Novelis on Monday, 4 November 2013, announced a price increase on its aluminum automotive sheet products in North America. Meanwhile, the S&P BSE Sensex was down 135.27 points or 0.64% at 21,104.09. On...
Coal shortage to hit Hindalco hard
Lack of adequate coal supply may hit Hindalco Industries’ expansion plans. In some locations, the company may have to pay $300 per tonne extra for acquiring coal from the open market resulting in erosion of its profits significantly. In some others, the company may have to re-evaluate its...
Hindalco to buy coal from other sources
The company may have to look for other options because its Talabira coal mine Stage-II has not yet received approval from the Union environment ministry Industry major in aluminium and copper, Hindalco Industries will have to buy coal from other sources at a very high cost for its aluminium project...
INR 15,000 cr alumina project to come up in Gujarat
An alumina plant and aluminium smelter project worth INR 15,000 crore would be set up near Mundra in Kutch district of Gujarat, Union Minister of State for Mines Dinsha Patel said today. "The plant will come up near Mundra in Kutch district of Gujarat. It is a joint venture between National...
Tentiwal wire files DRHP on BSE SME
Tentiwal Wire Products has filed a DRHP on BSE SME platform to raise a little more than R2 Cr by issuing 1630000 equity shares of R13 each. The net proceeds will be utilized to reduce overall indebtedness of the Company by repayment of the outstanding loan from Aditya Birla Finance Ltd and for...
