$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...
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Nalco invests INR 294 crore on the MSEs
A sum of INR 294 crore has been invested by the Nalco in favour of the micro and small enterprise (MSE) units in 2013-14. The Chairman and Managing Director of Nalco, Ansuman Das said during the 19th level Advisory Committee meet on Monday, both aluminium major and Micro Small and Medium...
Ess Dee Aluminium slips to a 52-week low at INR 379
Ess Dee Aluminium that opened at INR 472 slipped by 8% to INR 434, down to almost 20% lesser at INR 379, marking a bad phase of four days, and also hitting the 52-week low on the National Stock Exchange (NSE). The company had already reported disappointing results at the end of the June quarter...
Call for conference papers and delegates for the Third IBAAS International Symposium in November
The Third IBAAS International Symposium is to be held in Visakhapatnam, Andhra Pradesh, India during November 27-29, 2014. The title of IBAAS – 2014 symposium is “Technological Improvements & Market Developments in Aluminium Industry with Special Reference to Value Added Products of Bauxite,...
Tribals protest against the Government’s proposal of bauxite mining in Vishakhapatnam
The tribal areas around Eastern Ghats of Vishakhapatnam are expressing collective resistance to the proposal of bauxite mining in the area. The Social Welfare and Tribal Welfare Minister R Kishore Babu however say that no decision has been taken on the issue and the recent statement made by the...
Aluminium up 0.28% up on firm global trends
Aluminium prices rose marginally by 0.28 per cent in futures trade today in line with a firming trend in the global markets. Besides, increased demand at domestic spot markets also influenced prices. At the Multi Commodity Exchange, aluminium for delivery in current month rose by 35 paise, or 0.28...
No clarity on Mahan pushes Hindalco to import coal
Hindalco Industries Ltd is importing coal for its aluminium plants amid lack of clarity on when the controversial Mahan coal project in Madhya Pradesh may be cleared, showing the government’s inability to fast track projects and pushing companies to resort to costly imports. “Our problem is that we...
Cabinet hikes royalty rates on minerals in India
The government today gave nod to increasing royalty rates on minerals including iron ore and bauxite, a long-awaited move that will significantly swell the annual revenue of states. "Cabinet in-principle approved revision of mineral royalty. There are 55 such items but this excludes coal, lignite...
Spot demand and overseas predictions spike aluminum value
Strong spot demands and firming overseas trend have edged the aluminium price to INR 123.40 per kg, up by 45 paise, in future trade on Wednesday. This 0.37% rise in prices was noticed for aluminium slated for August delivery at the Multi Commodity Exchange. For a business turnover of 205 lots, the...
Aluminium falls by 0.1% on global cues
Aluminium slipped to INR 122 per kg in futures trade today as participants reduced their exposures amidst weak global cues. Besides, sluggish demand in the domestic spot markets also weighed on the metal's price. At the Multi Commodity Exchange, aluminium for delivery in August eased by 10 paise,...
Hindalco Q1 profit drops 31% on high fuel, finance cost
World's largest aluminium rolling company Hindalco Industries missed street expectations with the first quarter net profit falling 30.9 percent year-on-year to INR 327.5 crore dented by higher power and fuel, finance, and raw material costs. Profit in the corresponding quarter of last fiscal was...
Global Bauxite and Alumina market review 2014
Research and Marke has announced the addition of the "Bauxite and Alumina Market Review" report to their offering. The report presents a thorough study of bauxite and alumina, covering both global and regional markets and aims to give a proper picture of the market, as well as its trends,...
Hind Aluminium Industries standalone quarterly earnings plunges 74.58%
Hind Aluminium Industries said a substantial drop in standalone net profit for the quarter ended June 2014. During the quarter, the profit of the company declined 74.58% to INR 8.67 million from Rs 34.10 million in the same quarter previous year. Net sales for the quarter declined 34.23% to INR...
Bhoruka Aluminium swings to loss in Apr-Jun quarter
Bhoruka Aluminium swung to a loss for the quarter ended June 2014. During the quarter, the company reported a loss of INR 1.44 million compared with a profit of INR 376.00 million in the same quarter previous year. Net sales for the quarter declined 99.43% to INR 0.39 million, compared with INR...
Aluminium down 0.4% on global cues
Aluminium prices fell by 0.36% to INR 124.50 per kg in futures trading today as speculators reduced their positions amid weak global cues. Further, subdued demand in the domestic spot markets also weighed on the metal prices. At the Multi Commodity Exchange, aluminium for delivery in August shed 45...
National Aluminium Company's net profit up 69.68 percent
National Aluminium Company reported an increase of 69.68 percent in it's net profit for the first quarter of current fiscal at INR 270.99 crore. The company had posted a net profit of INR 159.70 crore for the quarter ended June 30, 2013. According to the company, its total income in the quarter...
Nalco looking at Oman and Iran for $3bn smelter due to coal shortage in India
Domestic coal shortages are prompting India’s National Aluminium Co (Nalco) to plan construction of a US$3bn smelter complex abroad, possibly in Oman or Iran, underscoring the task Prime Minister Narendra Modi faces to boost energy output. Indonesia, Vietnam, Malaysia and UAE are other potential...
National Aluminium Company Q1 net may rise 14% to INR 182 cr
State-run National Aluminium Company (Nalco), which will declare its first quarter (April-June) earnings on Wednesday, is expected to show a 14 percent growth in profit after tax at INR 182 crore compared to INR 159.7 crore in corresponding quarter of last fiscal on account of company's strategy to...
CM's Bauxite Mining plan opens Pandora's Box
With chief minister N Chandrababu Naidu making it clear that the state government is keen on permitting bauxite mining in the Visakhapatnam agency area, the opposition for the same is regaining momentum. While the AP government has already launched an exercise to review the stand on the issue,...
