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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Hindalco Industries Ltd clarifies on INR 7500 crore invesments
The Exchange had sought clarification from Hindalco Industries Ltd with respect to news article appearing in Financial Express on August 15, 2015 titled "Birla invests INR 7,500 cr in Odisha refinery". Hindalco Industries Ltd has replied stating that Utkal Alumina International Ltd (Utkal) is our...
Orient Abrasives rises on getting nod for enhancement of Bauxite Mineral production capacity
Orient Abrasives (OAL), the largest producer of calcined and fused products in India, has received clearance from the Ministry of Environment, Forests and Climate Change, for enhancement of bauxite production capacity at their Kothariya bauxite mine and the Nandana I bauxite mine at Kalyanpur,...
Vedanta to raise INR 2,000 crore to refinance debt
Vedanta Ltd, the mining and oil and gas arm of Anil Agarwal’s Vedanta Resources Plc., plans to raise INR 2,000 crore by issuing non-convertible debentures (NCDs) in a bid to refinance a part of the company’s debt, the company informed the stock exchanges on Monday. This issue is part of the overall...
ESS DEE Aluminium reports net profit of INR 7.04 crore for June quarter
ESS DEE Aluminium has reported a consolidated total income from operations of INR 184.61 crore and a net profit of INR 7.04 crore for the quarter ended Jun '15. For the quarter ended Jun 2014 the consolidated total income from operations was INR 181.55 crore and net profit was INR 5.55 crore. ESS...
Vedanta-owned Balco shuts rolling mill at Korba over slump in metal prices
Vedanta-owned Bharat Aluminium Co, one of India's top private sector aluminium producers, has shut its rolling mill at Korba in Chhattisgarh due to a slump in metal prices and competition from cheap imports from China. Vedanta's alumina refinery at Lanjigarh in Odisha, which has been struggling to...
Pro Fin Capital to increase stake in TERA
Pro Fin Capital Services Ltd., the leading financial solutions and services provider has intimated the Bombay Stock Exchange (BSE) that it has decided to acquire 80 per cent of the equity capital of Tera Natural Resources and Pellets Private Limited (TERA) in due course. TERA, the bauxite mining...
Manaksia Aluminium standalone Jun '15 sales at INR 78.10 crore
Manaksia Aluminium Company has reported a standalone total income from operations of INR 78.10 crore and a net profit of INR 1.10 crore for the quarter ended Jun '15. Other income for the quarter was INR 0.31 crore. For the quarter ended Jun 2014 the standalone total income from operations was INR...
Nalco seeks immediate Pottangi bauxite mine lease
The chairman and managing director of National Aluminium Company (NALCO) P K Chand urged upon Odisha government to grant the lease of Pottangi bauxite mine on an immediate basis. He put emphasis on the fact that the mine was direly needed by the Navaratna PSU in order to expedite its expansion...
Utkal Alumina gets government approval for its expansion plans
Odisha government has approved the expansion plans for Utkal Alumina Ltd, an Aditya Birla group firm and Bhushan Power & Steel Ltd (BPSL) in a meeting today. This is considered to be a step towards boosting the industrialization in the state of Odisha. "The State Level Single Window Clearance...
Muted global trend drives aluminium down 0.6% on MCX
Aluminium prices fell 0.64 per cent to INR 101.65 per kg on Multi Commodity Exchange (MCX) on Thursday after traders reduced their exposure amid weak global cues. Besides, sluggish demand in the domestic spot market weighed. At MCX, aluminium for delivery this month eased 65 paise, or 0.64 per...
Govt of India seeks clarification on L&T mines lease recommendation
Government of India has sought more clarification from the Odisha government on its recommendation to grant mining lease (ML) of Kutrumali and Sijimali bauxite mines to Larsen&Toubro (L&T). In June, the state government recommended the Centre to grant ML of the two mines after L&T committed to set...
Nalco Q1 net declines 40% to INR 163.44 cr
State-run National Aluminium Company (Nalco) reported a 40 percent decline in its net profit at INR 163.44 crore for the quarter ended June 30, 2015. The company had posted a net profit of INR 270.99 crore in the year-ago period. Total income of the aluminium producer fell by 16 percent to INR...
India raises import duty on aluminium by 2.5 per cent
Government of India has raised basic customs duty on base metals by 2.5 per cent. The decision was taken after Finance Minister Arun Jaitley approached Parliament seeking the revision for specified goods falling under Chapter 72. Under the Central Board of Excise and Customs ( CBEC), this pertains...
Balco moves Delhi High Court on coal mine bid rejection
Bharat Aluminium Company (Balco), a Vedanta group firm, has approached Delhi High Court against the government's decision to reject the company's winning bid for an auctioned coal mine in Chhattisgarh. The government last week rejected the company's plea to review the cancellation decision taken in...
AMAG: Asia- an attractive market for high quality aluminium products
AMAG, a leading producer of high grade rolled aluminium products based in Austria, offer customers in Asia a wide range of specialty materials for aircraft, automotive and electronics. AMAG has over 70 years’ experience in the production of aluminium with special competence in high-strength sheet...
Centre insists on DGPS survey before grant of bauxite leases to L&T
The Union Mines Ministry has stressed on Differential Global Positioning System (DGPS) survey of Kutrumali and Sijimali bauxite deposits before grant of mining lease (ML) to engineering & construction major Larsen & Toubro (L&T). "Apart from the survey, there is no other roadblock for L&T to get...
GMDC reports 44% fall in Q1 net profit
Gujarat Mineral Development Corporation (GMDC) has reported results for first quarter ended June 30, 2015. The company has reported a fall of 43.66% in its net profit at Rs 73.54 crore for the quarter ended June 30, 2015 as compared to Rs 130.54 crore for the same quarter in the previous year. The...
Balco plea to accept winning bid for Chhattisgarh mine rejected
The government has rejected a plea of Bharat Aluminium Company (Balco), a Vedanta group firm, to accept its winning bid for an auctioned coal mine in Chhattisgarh. The government had in March rejected bid by Balco citing low prices and handed over the mine to Coal India. The company had moved Delhi...
