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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Novelis Q3 net loss at $12 million, sales dip 4%
The leading producer of aluminium rolled products also registered a 4 per cent dip in net sales to $2.5 billion for the December quarter due to lower shipments and a decrease in average aluminium prices, a company statement said. Novelis, a subsidiary of Hindalco Industries, has registered a net...
Sterlite to push govt on HZL
With the government agreeing to consider Sterlite’s fresh offer to buy the residual stake in Bharat Aluminium Company Ltd (Balco) at a mutually agreeable price, a resolution of the long stand-off between Vedanta Resources and the central government is in sight. Sources familiar with the development...
Aluminium companies' shares trade firm in a weak market; brokerages bullish on Hindalco, Nalco
Shares of aluminium majors like Nalco and Hindalco are trading firm in a weak market on reports of pick-up in demand for the metal and approvals of various stimulus plans by governments across the globe. The has resulted in a substantial improvement in average global aluminium prices since June...
Hindalco: Novelis brings fresh impetus
Renewal of the Coca-Cola bottlers-Novelis deal and commencement of new domestic capacity should boost volumes. After touching a 52-week low on January 2, Hindalco shares got a boost, as its US arm, Novelis Inc, renewed its can-body sales agreement with global beverage giant Coca-Cola. Also, the...
Hindalco up 4% after Novelis renews contract
Hindalco Industries climbed 4% to Rs 127.10 after Novelis Inc, also part of the Aditya Birla Group, renewed its can-body sales agreement with Coca-Cola Bottlers' Sales & Services Company (CCBSS). A Novelis statement released late on Tuesday said the two companies had signed a multi-year agreement...
Talukdar retires, Praveen Maheshwari is new Hindalco CFO
Sunirmal Talukdar has retired from his position of the group executive president and chief financial officer of Hindalco Industries Ltd on December 31, 2011. He was 60. Praveen Maheshwari, who was the executive director (finance) at Bharat Forge, part of the Kalyani Group, has taken over from...
Aditya Birla group may bid for Indonesia coal firm stake - report
Aditya Birla group is considering a bid for a 10 to 15 percent stake in Indonesian coal miner Bumi Resources Tbk PT (BUMI.JK) to secure coal supplies for its expanding cement and aluminium operations, the Economic Times reported on Thursday. The transaction, along with an offtake agreement, could...
Hindalco dips 4% after court dismisses plea against tax dept
Hindalco Industries has plunged 4% to Rs 112, its lowest level since September 8, 2009, on the National Stock Exchange, after the Bombay High Court dismissed the company’s plea against the tax department over a tax outgo of nearly Rs 1,200 crore. Hindalco has been an underperformer among Sensex...
Sterlite Industries may be asked to buy residual government stake in Balco
The government will soon ask Sterlite Industries to make an offer to buy out its residual 49% stake in Bharat Aluminium Company Ltd, or Balco. Sterlite had acquired 51% stake in the company in a strategic sale by the government in 2001 for Rs 551 crore. "A formal proposal is being sought from...
Hindalco to be re-opened on Saturday
Hindalco Industries, Kochi, which had been locked up since February, will resume its functioning on Saturday. An agreement has been signed between the Birla Group which owns the company and representatives of trade unions in the presence of labour minister Shibu Baby John here on Friday. Hindalco,...
Accumulate Hindalco Industries; target of Rs 154: Emkay
Emkay Global Financial Services is bullish on Hindalco Industries and has recommended accumulate rating on the stock with a target of Rs 154 in its December 16, 2011 research report. “Hindalco Industries, Novelis to remain the key growth driver with an EBITDA of more than US$1 bn, largely immune to...
Aluminium sector bottoming out; Buy Hindalco, Nalco: IIFL
IIFL has come out with its report on aluminium sector. The research firm recommends investors to buy Hindalco & NALCO . Depreciating rupee to cushion impact of lower commodity prices: Aluminium prices have tumbled from its highs hit earlier in the year (29% from peak) on worries about the strength...
Expansion plans in rolling mills and strategic automotive capacity - Novelis
Through Novelis, Hindalco is trying to capture the upstream market of value added aluminium products such as beverage cans. Novelis also makes aluminium for cars. Novelis plans to invest between $500-600 million (roughly Rs 3,120 crore) in its global expansion plans in the current year. Most of...
Hindalco's Novelis to spend Rs 1,820 cr on Korea deal
Atlanta-based Novelis Inc, part of the Aditya Birla group’s Hindalco Industries, Asia’s largest integrated aluminium and copper producer, has raised debt of $225 million (Rs 1,170 crore) to complete the purchase of its Korean subsidiary. It will pay $125 million (Rs 650 crore) cash to seal the...
Hindalco set to unveil Eternia brand in Jan
Aluminium major Hindalco, part of the Aditya Birla Group, is sharpening its focus on value-added products such as aluminium-based windows, door systems and building facades, as part of efforts to create new markets for the metal in India. Hindalco will be unveiling its Eternia brand of windows and...
Hindalco to launch branded windows, door systems
Hindalco, part of the USD 35 billion Aditya Birla Group, will be launching branded windows, door systems and building facade for residential and commercial properties next month, a senior company official said today. V Ramaswamy, assistant vice president and head - Central Market Development Cell,...
Aluminium majors expect LME prices to move up
Indian aluminium majors are hopeful that the price of the metal on the London Metal Exchange (LME) may rise in the coming weeks as Euro zone leaders gear up to align their positions on centralised control of the euro zone budgets to fire-fight the debt crisis. After being on a steady decline for...
Hindalco to invest Rs 25,700 cr more
The Aditya Birla Group’s Hindalco Industries will be making an additional investment, equal to the $5-billion (Rs 25,700 crore) capex under way, to more than double its aluminium production capacity by 2016, D Bhattacharya, managing director, said here on Tuesday. He said the pace of the expansion...
