Vedanta's ₹210b metals push targets India's EV and critical minerals demand
Vedanta is expanding aluminium, copper and other metals capacity as electric mobility and India's demand for critical minerals reshape the domestic materials market. Vedanta Group is putting INR 210 billion (USD 2.21 billion) into metals production and capacity through FY2026, building a broader...
India’s electronics aluminium demand to grow 10.18% CAGR: Why aren’t makers benefiting from strong domestic production?
India’s aluminium smelters operate with some of the highest margins in the value chain, at around 10 per cent, but this profitability is not reflected among downstream manufacturers, where margins are closer to 5 per cent. These companies convert the metal into finished products such as heat sinks,...
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Passenger Vehicle sales in India witness a decline of 8.8% Y-o-Y to 249,860 units in October 2020: FADA
In October 2020, passenger vehicle (PV) registrations saw a year-on-year drop of 8.8 per cent to 249,860 units, according to the data shared by the Federation of Automobile Dealers Association (FADA). Total vehicle registrations at regional transport offices (RTOs), which are proxies for sales,...
India to seek early restoration of GSP trade privilege from Joe Biden demanding for higher tariffs rollback on aluminium
Settling the much-awaited India-America trade deal is likely to be one of New Delhi’s top priorities as soon as Joe Biden’s administration in Washington DC takes over as the New President of the United States. According to the report, New Delhi is all set to speed up its negotiation with Biden...
India’s aluminium scrap imports from US extend growth by 24.4% M-o-M in August 2020
India’s aluminium scrap imports from the United States continued to increase in August 2020, according to the latest data released the US Geological Survey. The imports in August grew by 5,300 tonnes or 24.42 per cent from 21,700 tonnes in July to 27,000 tonnes. In June 2020, India’s aluminium...
Vedanta reports Q2 net profit slip by 61.80% to INR 824 crore
On 6 th November’20, Vedanta reported 61.80% shrink in consolidated net profit at INR 824 crore for the quarter ended 30 th September’20 on the back of one-time tax expense. Vedanta said in a filing to BSE: “The Company posted a net profit of INR 2,158 crore in the year-ago period.” Income during...
Ola may set up electric scooter manufacturing facility in India
If reports are to be believed, Ola Electric is likely to build India's largest electric scooter manufacturing plant. The company is in talks with various state governments, including Karnataka, Tamil Nadu, Andhra Pradesh and Maharashtra, for this project. Image for representation purpose only The...
India has a long way to match the global average consumption of aluminium in auto industry: Vedanta Aluminium’s Ajay Kapur
Ajay Kapur, CEO - Aluminium & Power at Vedanta Limited, has pointed out in a recent interview that transportation accounts for the largest share of aluminium consumption at 27 per cent across the globe. The use of aluminium in the auto sector surged after the oil crisis in 1970s, triggering fuel...
COVID-19 lockdown, high Aluminium pricing forced Bajaj Electricals to re-consider its strategy
Bajaj Electricals, an Indian consumer electrical equipment manufacturing company based in Mumbai, has come up with extremely good results during the lockdown phase. The company’s consumer business rose to 10.08% from 4.7%, which is a huge development in EBIT margin. However, Shekhar Bajaj, Chairman...
India’s ETO Motors inks MoU with Telangana government for electric vehicles
India’s ETO Motors has inked a memorandum of understanding (MoU) with the Telangana government for the establishment of manufacturing facility for its range of electric vehicles. The plant will be built under its subsidiary Keto Motors with an investment of INR150 crore. NK Rawal, Managing...
Fortum eNext accomplishes Hindalco Mahan Aluminium’s coal-fired power plant project of axing NOx emissions
Fortum eNext low-NOx solutions, a part of Finland’s clean energy firm Fortum, has accomplished its earliest commercial combustion modification project in Madhya Pradesh, India at Hindalco Mahan Aluminium. Fortum said in a statement: “The project was aimed at reducing nitrogen oxides (NOx) emissions...
Vedanta hikes its aluminium ingot price by INR 4,500/t with effect from November 4
Vedanta has hiked its aluminium products price for the second time in a row. With effect from Wednesday, 04 November 2020, the prices of some aluminium ingots are in the range of INR 159,500-172,500 per tonne. That was up by INR 4,500 per tonne from INR 155,000-168,000 per tonne on November 3. The...
NALCO increases its aluminium ingot price for the third time in a row by INR600/t w.e.f. November 1
National Aluminium Company Limited (NALCO) has extended the growth of its aluminium ingot and aluminium product prices for the third time in a row, albeit lower than the previous times, with effect from November 1. NALCO has raised its aluminium ingot price by INR 600 per tonne on November 1,...
Vedanta’s aluminium ingot price rises significantly by INR4,750/t with effect from November 3
Vedanta’s aluminium ingot and aluminium product prices have been raised significantly with effect from November 3, following back-to-back declines on October 28 and 30. The company has grown its aluminium ingot price by INR 4,750 per tonne or 3.16 per cent on November 3 from INR 150,250-163,250 per...
Hindalco further increases its aluminium product prices by INR1750/t with effect from November 3
Hindalco Industries Limited has extended the growth of its aluminium product prices with effect from Tuesday, November 3. The price of Hindalco’s aluminium wire rods has been raised by INR 1,750 per tonne from INR 166,350 per tonne to INR 168,100 per tonne, as of November 3. With the latest hike,...
NALCO: Manasa Prasad Mishra takes charge as Director-Projects & Technical
Manasa Prasad Mishra takes charge as the new Director - Projects & Technical for the Indian state-owned National Aluminium Company Limited (NALCO), a Navratna group ‘A’ CPSE Company. On 2 nd November’20, in a statement, it was said that Mishra was serving in the company as Executive Director of...
2 Days to Go to IBAAS-JNARRDC webinar on aluminium value chain!
Only 2 days to go to the much-awaited online conference organised by the International Bauxite, Alumina & Aluminium Society (IBAAS) on November 4-6, 2020. The conference will bring leading International experts in one platform to deliver excellent presentations on the latest topics of the aluminium...
JNARDDC inks MoU with RUSAL for aluminium production and consumption
Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC) has entered into a memorandum of understanding (MoU) with Russian Union of Producers, Suppliers and Consumers of Aluminium (RUSAL) for the co-operation in the development of aluminium production, consumption and technology...
Telangana is aiming to become a hub for Electric Vehicles; Launches a 10-year EV policy
On Friday, October 30, the Government of Telangana launched the 10-year 'Telangana Electric Vehicle & Energy Storage Policy' with a vision to make the state a hub for electric vehicles (EVs) and energy storage systems (ESS). The policy, launched in the presence of ministers KT Rama Rao and Ajay...
Hindalco hikes its aluminium products price by INR 2,750/t with effect from October 31
Hindalco Industries Limited has hiked its aluminium products price after declining it for the second time in a row. With effect from Saturday, 31 October 2020, the company’s wire rods price stands at INR 166,350 per tonne, up by INR 2,750 per tonne, from INR 163,600 tonne on October 31. Aluminium...
