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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Utkal Alumina unable to transport alumina due to pending rail link permission
The Hindalco group company, Utkal Alumina International Limited (UAIL), which started alumina production from its plant in south Odisha about four months ago, is unable to transport the material to its end use plants pending permission from the railway authorities to operate the rail link. “About...
Hindalco Industries witnessed a rise of over 44 per cent in less than three months
Aluminium major Hindalco Industries witnessed a phenomenal rise of over 44 per cent in less than three months along with other metal counters. The rally has been mainly due to reports of pick up in economic activity in China and hopes of recovery in the US and Europe. According to analysts,...
“Infrastructure, Electrification and Downstream Applications to Boost the Aluminium Market in India”
<p><strong>“On a longer term, I’m still very bullish about the Indian market... There are two things that will boost the aluminium market: one is India’s focus on electrification and infrastructure and second is when companies like Hindalco will develop the downstream capacities...
Promoters hike stake in Hindalco industries to 37%
The promoter group companies of the Aditya Birla Group have hiked their stake by nearly 5% in Hindalco Industries Ltd, the metals flagship company of the group and world’s largest aluminium rolling company. The promoter group companies, controlled by group chairman Kumar Mangalam Birla, converted...
Hindalco shares up after conversion of warrants by promoters
Industries rose 0.22% to INR 114.50 at 13:59 IST on BSE after the company said that the promoter group companies have converted 15 crore warrants into equity shares at INR 144.35 per share. The announcement was made after market hours on Friday, 20 September 2013. Meanwhile, the S&P BSE Sensex was...
Indian Aluminium producers unnerved by falling price
Their low costs notwithstanding, Indian aluminium makers are treading on thin ice of profitability. Aluminium is trading at a four-year low on the London Metal Exchange (LME). At these prices, large swathes of global aluminium capacity are not recovering cash costs. If the industry here has managed...
Hindalco's revenue to double after 3 projects go on stream
Hindalco Industries stands to benefit from the weakening of the rupee against the dollar, as copper and aluminium prices are dollar-denominated, Chairman Kumar Mangalam Birla told shareholders at the company’s 54th annual general meeting on Tuesday. “The only foreign loan we (Hindalco Industries)...
Orissa bauxite reserves remain unutilized, only one reserve being functional
Orissa sits on one of the largest reserves of bauxite in India —around 2.5 billion tonnes — but its record in developing these mines or allocating them to private parties is abysmal. Of 10 identified big mines with potential reserves of around 1,489 million tonnes (mt), only one mine —...
Weak aluminium prices may impact Hindalco's financials in FY14
Hindalco Industries Ltd has said that metals business will face challenges in the near term as aluminium prices continue to remain weak in the international market and will have bearing on financial results in 2013-14. "As aluminium prices continue to remain weak in the international market, the...
Maoists hinder bauxite supply to Hindalco unit
Suspected Maoists have forcibly stopped the supply of bauxite from Red-hit Latehar district to Hindalco Industries' Renukut plant in Uttar Pradesh, considered one of the biggest aluminum factories in Asia. A group of rebels attacked a railway sliding site in Richughuta locality under Latehar police...
Hindalco sees stagnant profit growth during Q2 despite higher metal volumes
Hindalco is the latest to see stagnant profit growth despite higher metal volumes in the second quarter (Q2). Its Q2 net profit remained flat year-on-year (y-o-y) at Rs 357 crore. While lower other income is a factor for the sequential fall in net profit, lower realisations and higher costs have...
Hindalco Industries drops to Rs 98.85 on BSE
Hindalco Industries lost 5.36% to INR 98.85 at 15:15 IST on BSE, with the stock sliding on profit booking after 3-day 11.89% rally. Meanwhile, the S&P BSE Sensex was down 589.29 points or 3.18% at 17,968.84. On BSE, 14.98 lakh shares were traded in the counter as against average daily volume of...
Hindalco said to seek refinancing on $2.7 billion of loans
Hindalco Industries Ltd., India’s second biggest aluminum maker, is seeking improved terms on as much as $2.7 billion of debt as projects funded by the rupee loans come on stream, said two people familiar with the talks. “The company, controlled by billionaire Kumar Mangalam Birla, wants to...
Kumar Mangalam Birla to raise Hindalco stake to 37%
Kumar Mangalam Birla, the chairman of Aditya Birla Group, will invest INR 2,165 crore by October to raise his stake by 5% to 37% in Hindalco Industries by converting 15 crore preferential warrants into equity shares, a group executive with direct knowledge of Birla's plans said. The company,...
Hindalco bets big on Utkal & Mahan plants to raise output
Aluminium contributes nearly 75% to company’s profit Hindalco Industries will be producing around 3 million tonnes of alumina and 1 million tonne of aluminium from 2014, as production from the company’s Mahan and Utkal Alumina will come on-stream. Mahan aluminium smelter, in Madhya Pradesh, is...
Hindalco counting on Brazil World Cup to boost sales
Hindalco Industries Ltd. (HNDL), the world’s biggest supplier of aluminum for cans, is counting on next year’s soccer World Cup and the 2016 summer Olympics in Brazil to buoy demand amid sagging sales at home in India. Novelis Inc., a unit of the company controlled by billionaire Kumar Mangalam...
Hindalco aluminium business may face challenges in near term
Hindalco Industries Ltd’s aluminium business is expectd to witness challenges in the near term on the back of weak prices of the metal in the global market, Chairman Kumar Mangalam Birla said in the 2012-13 annual report. Also, the interest burden from its expansion projects will have a bearing on...
Hindalco plans to consolidate existing and new operations
Hindalco Industries Ltd, India’s second largest aluminium producer, wants to consolidate its existing and new operations rather than rush to buy mines overseas, a strategy that stands in contrast to plans of other metal companies that believe that falling commodity prices present a good opportunity...
