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 gained 3% on forest clearance for Mahan coal block
Aluminium major Hindalco Industries gained 2.8 percent to Rs 114 after the company has secured stage 1 forest clearance for Mahan coal block, which was allocated in 2006. Mahan Coal is a joint venture between Essar Energy and Hindalco Industries. Motilal Oswal feels it is positive for the stock....
Hindalco, Sterlite under pressure due to lower aluminium price
Hindalco Industries and Sterlite Industries, two leading players operating in the non-ferrous metal segment are witnessing pressure on margins due to lower aluminium prices on London Metal Exchange and also due to lower profit margins on refining of copper. Hindalco Industries, Aditya Birla group’s...
Aluminium leaders involve in can recycling battle
Aluminium industry leaders and former partners Alcoa and Hindalco Industries’ subsidiary Novelis are now competing strongly to collect and recycle the 92.5 billion aluminium beverage cans made in the USA annually, according to the Wall Street Journal. Novelis, which ended the partnership on August...
Government aims to sell stakes in Oil India, Hindustan Copper, National Aluminium by November
Government aims to divest stakes in state-owned companies Oil IndiaBSE -0.11 % Ltd, Hindustan CopperBSE -1.25 % Ltd and National AluminiumBSE 0.30 % Co Ltd by November, the official in charge of the government's divestment programme said on Friday. One of the divestments could take place by the...
Hindalco lines up new projects to be completed by 2015
Timely project execution will be the key to growth for Hindalco Industries, the Aditya Birla Group flagship, as the company lines up an array of projects to be commissioned up to 2015. Mahan smelter, Aditya Aluminium along with a power plant, Aditya Alumina and Jharkhand Aluminium are among the...
Hindalco raises Rs 9,900 cr for Odisha project
Hindalco Industries, an Aditya Birla Group company, has raised Rs 9,896 crore to fund its aluminium project in Odisha. The debt funded through a consortium of 28 banks and financial institutions has a tenor of 12.5 years and interest rate of 11.25 per cent a year. The 13,195-crore Aditya Aluminium...
Aluminium smelters hit by power costs
Hindalco Industries Chairman Kumar Mangalam Birla on Tuesday told shareholders at the company’s AGM that the power cost pressure is hitting aluminum smelters hard, though aluminium business in the country has recorded highest production. He also noted that China continues to be a major demand...
India's aluminium consumption set to increase
The Indian economy has arrived at a point where a non-ferrous metal such as aluminium will come in for increasingly significant application in many areas, besides electrical and electronics, which now has a preponderant share of 48 per cent of this country’s total use of the white metal against...
Hindalco shares decline 2% due to downgraded ratings
Shares of Hindalco Industries, country's largest aluminium maker, fell over 2 percent after the foreign research firm Citi has downgraded the stock to a sell. Citi has cut the target price of the stock Rs 118. "A muted aluminum outlook, rising costs in existing operations and less viable project...
Hindalco growth to be driven by new projects and Novelis
A key growth driver for Hindalco is the commissioning of a new project this fiscal after a long delay. Additionally, Novelis, its international subsidiary, with its high-value added products and increased focus on recycling will drive earnings in the event of falling aluminium demand. The Mahan...
Hindalco to invest Rs. 10,000 cr in 2012-13
Aditya Birla group's metals major Hindalco will invest more than R10,000 crore in the current fiscal to raise production capacity across various locations, the group's chairman Kumar Mangalam Birla said at the company's annual shareholders meeting on Tuesday. Hindalco's US subsidiary Novelis, a...
Novelis targets 50% recycled content by 2015
Novelis, the overseas subsidiary of aluminium maker Hindalco, is betting big and moving fast on recycled content. The company is targeting to reach 50% of its production through recycled aluminium material, or scrap, by 2015. This will help the company in taking advantage of the price arbitrage...
Hindalco faces Vedanta's mining fate in Odisha
Even when the protest against Vedanta over mining in Niyamgiri was at its peak, Hindalco Industries quietly carried on with its work in Mali Parbat, just miles away from the Vedanta project. But not anymore! With locals protesting against Hindalco’s move to mine Mali Parbat, the contractor who was...
Indian Steel and aluminium Producers Stake Hopes on Auto Industry (Part Two)
Not only steel manufacturers, but even aluminium producers in India are now vying for a larger piece of the auto market pie, what with vehicles getting increasingly lighter and stricter pollution norms. Hindalco Industries Ltd, the world’s biggest supplier of aluminum to carmakers, may double group...
Odisha's tribals to protest bauxite mining by Hindalco
About 15 kms from the idyllic hilly town of Semiliguda in South Odisha’s Koraput district, the stage is set for an encore of the Niyamgiri-type agitation, as the tribals gather at the foothills of Mali Parbat to protest against bauxite mining by Hindalco Industries Ltd in the area. Sharing the...
Hindalco plans to borrow $1.8 billion loan next month to finance its Odisha projects
Hindalco Industries Ltd. (HNDL), India’s second-largest aluminum maker by output, plans to sign an agreement to borrow 100 billion rupees ($1.8 billion) as early as next month, according to two people familiar with the matter. The interest rate for the 12 1/2-year term facility, which will finance...
Nirmal Bang updates on Hindalco Industries
Hindalco Industries' 1QFY13 EBITDA were 36%/38% below our/street estimates, respectively, on lower copper and aluminium production due to planned plant shutdown and temporary disruption, respectively. PAT was just 10%/17% below our/street estimates, respectively, primarily due to a significant jump...
Pollution board orders closure of Hindalco power plant in Odisha
The Odisha State Pollution Control Board (OPSCB) has asked aluminium maker Hindalco Industries Ltd to shut down the captive power plant of smelter plant near Hirakud in western Odisha following breach in its ash pond causing severe crop damage in the nearby areas. The pollution watchdog ordered for...
