$11.5b Adani-IRH aluminium project set to strengthen Odisha’s aluminium value chain
Odisha has handed over more than 7,000 acres of land for the Adani Group-International Resources Holding (IRH) joint venture’s proposed USD 11.5 billion integrated aluminium complex. This covers planned alumina refining, aluminium smelting and downstream manufacturing facilities across Sundargarh...
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...
Grow with
AL Circle
Vedanta profit up as currency volatility eases, but hit by volume falls
Vedanta Resources PLC Thursday said its pretax profit more than doubled in the first half of its financial year as currency volatility eased, but its operating profit was hit by lower volumes at several of its operations, offsetting a 6% revenue increase on the back of higher metals prices. The...
Hindalco Q2 profit down 78% on fines, provision
Hindalco BSE 0.20 % Industries reported a second quarter net profit of INR 78.77 crore, down 78% from INR 357.11 crore in the corresponding quarter last year, as the aluminium maker paid a huge fine as directed by the Supreme Court in September and took a one-time charge on a poorly performing unit...
Ess Dee Aluminum bags awards in International Quality Control Convention
Ess Dee Aluminum, one of India’s leading aluminium foil manufacturer, has bagged two awards in International Concept On Quality Convention. This international level event, held in Srilanka from 12th to 14th October 2014, witnessed more than 200 Teams participating from 13 Nations which included...
Nalco jumps after strong Q2 results
National Aluminium Company rose 7.25% to INR 62.90 at 9:23 IST on BSE after net profit jumped 90.61% to INR 341.52 crore on 16.28% rise in total income to INR 2164.13 crore in Q2 September 2014 over Q2 September 2013. The result was announced after market houINR on Wednesday, 12 November 2014....
Novelis shifts focus to the more lucrative automotive industry
Novelis Inc. which is the U.S. arm of Hindalco, one of India’s largest aluminium makers said that they are slowly shifting their focus towards catering to automakers and as a result they have cut 3,000 and hired 4,000 workers over the past four years. The transition has caused the displacement of...
Aluminium trades at lower level on global cues, low spot demand
Aluminium prices fell 0.40 per cent to INR125.65 per kg in futures trading today as speculators reduced exposure amid weak global trend. At the Multi Commodity Exchange, aluminium for delivery in December declined by 50 paise, or 0.40 per cent, to INR 125.65 per kg in business turnover of 27 lots....
Nalco Q2 profit may jump 62% to Rs 290 cr on strong EBITDA
National Aluminium Company (Nalco) is expected to report a whopping 62 percent growth in profit at Rs 290 crore for July-September quarter led by company's strategy to minimise expensive coal imports. Profit in the year-ago period was Rs 179.2 crore. Revenue is seen going up by 7 percent to Rs...
Aluminium futures fall 0.55% on global cues
Aluminium futures fell 0.55 per cent to INR 126.40 per kg today as speculators reduced positions amid a weak trend in base metals at the London Metal Exchange. At the Multi Commodity Exchange, aluminium for delivery in December lost 70 paise, or 0.55 per cent, to INR 126.40 per kg, with a business...
Govt working on auctions for iron ore and bauxite mines
The government is learnt to have finalised a blueprint to auction 31 mining leases for iron ore and bauxite mines by April 2015. It has also asked the states to give a list of fully prospected areas for auctioning them out in the subsequent phases. The first set of mining leases (MLs) will be...
Manaksia Ltd issues work suspension orders at Haldia aluminium unit
Manaksia Ltd which was formerly known as Hindusthan Seals Ltd. has issued a suspension order for the workers of the aluminium unit at Haldia for an indefinite period post agitation. According to the officials, the permanent workers were working slowly for the last couple of days as a sign of...
Hindalco to revive its QIP plans
Hindalco Industries Ltd. limited is supposedly going ahead with their plan of raising funds by selling shares to institutional investors, said bank sources who are dealing directly with the case. Hindalco had planned to initiate the qualified institutional placement (QIP) issue long back but...
Non-Ferrous World Mirror for October 2014 released
The Bureau of International Recycling (BIR) has released the Non-Ferrous World Mirror for October 2014, which states that geopolitical tensions and conflicts have continued to drag the non-ferrous metals markets worldwide. The protests in Hong Kong have aggravated the weak trade condition in China....
Non-Ferrous World Mirror for October 2014 released
The Bureau of International Recycling (BIR) has released the Non-Ferrous World Mirror for October 2014, which states that geopolitical tensions and conflicts have continued to drag the non-ferrous metals markets worldwide. The protests in Hong Kong have aggravated the weak trade condition in China....
Auto parts maker Wheels India to focus on exports to sustain growth
Wheels India Ltd, an automotive wheel manufacturer, is depending on the export market to sustain its growth. The company’s investments of ?80-85 crore in the current year will focus on exports including capacity additions in aluminium-forged wheel production, other export-oriented products and...
Aluminium futures contact on MCX recovers in the last two weeks
The aluminium futures contract traded on the Multi Commodity Exchange (MCX) has recovered smartly in the last two weeks. The corrective fall from the August high of INR129 per kg found a bottom at INR116 in early October. The rally from this low signals the beginning of a new leg of the up-move for...
Anrak Aluminium says may get govt approval for bauxite project
Anrak Aluminium is optimistic of securing government approval to mine bauxite in three to four months, a company official said on Wednesday, possibly ending a three-year wait. "We are hopeful of getting approval in three to four months," Hariharan Mahadevan, president of projects at Anrak, told an...
Odisha government to provide raw materials for Vedanta within 3-4 months
The founder and executive chairman of the London-listed Vedanta Resources, Anil Agarwal, announced on Tuesday that the Odisha government has assured him that they will provide the necessary raw materials to feed Vedanta’s one-million tonne Lanjigarh refinery within three to four months. The...
Anil Agarwal requests the Chhattisgarh government to start the Korba power plant
Anil Agrawal, the founder and executive chairman of the London-listed Vedanta Resources travelled to Raipur on Monday to talk to the authorities about the power plant in Chhattisgarh’s Korba district which has been stalled and is affecting the other projects in the state. The 1200-Mw power plant...
