Bosch SDS, Dassault Systèmes collaborate to advance AI-led manufacturing in India
Bosch Software and Digital Solutions (Bosch SDS) and Dassault Systèmes today announced a collaboration in India to help manufacturing enterprises accelerate digital transformation across product engineering, manufacturing operations and industrial value chains. The collaboration brings together...
Adani-IHC expand Odisha investment plans to $25bn across 14 projects
Abu Dhabi-based International Holding Company (IHC) and India’s Adani Group have expanded their investment plans in Odisha, outlining INR 2.105 trillion (USD 25 billion) of potential investment across 14 projects spanning metals, critical minerals, energy, chemicals and infrastructure. The...
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Sluggish bauxite demand drags GMDC profits down 40% in Dec 2015 quarter
The Indian government-owned mineral exploration and development company has reported weaker year-on-year results for the final three months of last year as the Gujarat-based miner succumbed to slowing demand and weakening commodity prices. Gujarat Mineral Development Corporation Ltd. (GMDC) has...
BIR Non-Ferrous World Mirror February 2016
Changes have been mooted for AQSIQ licences covering imports of scrap into China, including most notably a proposal for licence validity to be extended from three to five years. And with regard to licence extensions, it has been proposed that any two or more changes involving address, legal person...
Hindalco Industries likely to report loss for Q3 2015
Hindalco Industries Ltd, one of India's leading aluminium producers, will announce its financial results on February 9 for the third quarter ended December 31, 2015. A leading investment research firm forecasts, the company is likely to report a loss of INR 159 crore for Q3 FY16. The firm expects...
NALCO CMD meets India's PM Narendra Modi
During the recent visit of the Prime Minister to the Temple City of Bhubaneswar, Shri Tapan Kumar Chand, CMD, NALCO extended him warm welcome on behalf of all the industries in Bhubaneswar and NALCO, the Navratna company, at Raj Bhavan, Bhubaneswar. He also presented a book “Aluminium : The...
No relief in sight yet for Indian aluminium makers
Government of India has provided relief to the domestic steel manufacturers hit by cheap imports and the global slowdown in commodity price by imposing a minimum import price ranging from $341 to $752 a tonne on 173 steel products. But, the global slowdown has left the aluminium industry still...
Maan Aluminium informs about closure of trading window
Maan Aluminium has informed that a meeting of the Board of Directors of the company will be held on February 13, 2016, to consider and approve Un-Audited Financial Results of the company for the quarter and nine months ended December 31, 2015 along with the limited review report of the auditors for...
India's major aluminium scrap prices up; MCX aluminium settles higher
Major aluminium scrap commodities prices in India advanced on Thursday, February 4, while aluminium futures prices at Multi Commodity Exchange settled higher as a steep fall in the dollar eclipsed tepid demand in China, forcing shorts to cover ahead of the week long Lunar new year break. The major...
MCX aluminium up by 0.4% on strong demand
Aluminium prices edged up 0.44% to INR 103.35 per kg in the futures trading today as participants enlarged positions, supported by strong demand in the spot markets and base metals strengthened overseas. Aluminium for delivery in current month inched up 45 paise, or 0.44%, to INR 103.35 per kg in a...
Hindalco Industries Ltd hits 52-week low
The stock of Hindalco Industries Ltd hit a new 52-week low and has INR 63.37 target or 5.00 per cent below today’s INR 66.70 share price. The 9 months bearish chart indicates high risk for the INR 143.28 billion company. The 1-year low was reported on February 4. If the INR 63.37 price target is...
Hindalco said to face threat of Baphlimali mine closing
Hindalco Industries Ltd., India’s second- largest producer of aluminum, may have to halt mining at its biggest bauxite reserve after part of the land was recently deemed forest, requiring a new permit, people with knowledge of the matter said. The company needs to obtain approvals by 9 March and is...
MCX aluminium down by 0.5% on global cues
Aluminium prices fell 0.48% to INR 103.70 per kg in futures trading today with speculators indulged in cutting down their positions, taking weak cues from global markets. Moreover, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange,...
Vedanta to ramp up aluminium SEZ capacity from next fiscal
Buoyed by an order of the state power regulator here, diversified metals and mining major Vedanta Ltd is gearing up to ramp up capacity at its aluminium smelter SEZ (Special Economic Zone) at Jharsuguda from the next fiscal. "The state power regulator, OERC (Odisha Electricity Regulatory...
India mines ministry proposes increase in aluminium duty
The ministry of mines in India has proposed a hike in import duty on aluminium to 7.5% from 5% now, and a correction of the inverted duty structure in the industry, in its pre-Budget communication to the finance ministry. If the proposals are implemented, domestic aluminium makers such as Hindalco,...
Upbeat Nalco plans to invest INR 30,000 crore for growth in next 5 years
Upbeat about a rise in aluminium consumption in India, Navaratna PSU Nalco is all set to invest INR 30,000 crore in various projects in the next five years. “Nalco plans to invest to the tune of INR 30,000 crore in the next five years,” Nalco’s CMD Tapan Kumar Chand said in his Republic Day...
Aluminium falls by 0.4% on global cues
Aluminium prices fell 0.38% to INR 103.90 per kg in futures trading today, taking weak cues from global markets. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in current month shed 40 paise, or 0.38%,...
Market downturn to hit Nalco profit despite high production
National Aluminium Company (Nalco) chairman and managing director TK Chand on Tuesday said that the company’s profitability would remain depressed during the current fiscal despite achievement of higher production. Chand said that the company is set to close the fiscal 2015-16 with a bauxite...
Vedanta announces results for Q3 and nine months ended Dec 31
Resources giant Vedanta Limited, formerly known as Sesa Sterlite Ltd, announced its unaudited consolidated results for the third quarter ended 31 December 2015. Revenues during the quarter at INR 14,801 crore, were lower by 9% q-o-q due to softening of oil and metal prices, partially offset by...
Indian govt mulls buyback route for Nalco stake sale
The Government of India is planning to opt for the buyback route, instead of an offer for sale (OFS), for divesting its stake in Bharat Heavy Electricals (BHEL) and National Aluminium Company (Nalco) so that it can get higher prices from the stake sale. The government expects to garner around INR...
