Vedanta Aluminium shares rise as the group denies stake-sale speculation
Vedanta Aluminium shares gained 3.32 per cent after Vedanta Resources denied speculation that it planned to sell its stake in the aluminium business, while brokerages maintained bullish views on the stock. Vedanta Aluminium came into focus after its parent, Vedanta Resources, dismissed reports and...
Vedanta Aluminium eyes next growth phase on higher volumes and lower costs
Motilal Oswal has maintained its “buy” rating on Vedanta Aluminium Metal, saying production growth, lower costs and a bigger share of value-added products could support a multi-year expansion in earnings. The brokerage has set a target price of INR 540 (USD 5.67) per share, implying potential...
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India’s aluminium imports record a 24% rise during April-October 2018
Following China and the United States’ sanctions, India’s aluminium imports have reportedly recorded a year-on-year rise by 24 per cent during April-October 2018. According to executives, the volume of inbound shipments may grow further and cause more distress to the domestic industry. Scrap...
Vedanta and Hindalco cut their ingot prices on January 3 after the fall in LME prices
Vedanta Ltd cut prices of aluminium ingots for the fifth time in a row by more than 2% with effect from Thursday January 3, making the price of P1020 / EC High purity ingot fall to INR 146,500 per tonne. With Thursday’s cuts, rates of these products are now at their lowest levels in more than a...
Vedanta plans capex of $300 million for FY20
Vedanta Ltd has proposed to invest $250-300 million in the next fiscal for ramping up the alumina refinery capacity at Lanjigarh. The company has planned to expand the capacity to six million tonnes per annum from its current 1 million tonnes. Metals and mining giant Vedanta expects to recover the...
Indian aluminium producers fear earnings drop due to falling aluminium prices
With the international aluminium price hovering at 20-month low, the earnings outlook for the domestic aluminium producers are at a risk and is banking heavily on import duty hike. Currently the three months LME aluminium prices are at US$ 1846 per tonne, much lower than what analysts had...
Vedanta to restrain its alumina imports to 500,000 tonnes by FY21
According to a report, Vedanta Limited is aiming to curb its alumina imports to 500,000 tonnes a year by the financial year 2021. Per the record, the company imports more than two million tonnes of alumina to power its smelters at Jharsuguda and Korba because of having no sufficient captive bauxite...
Hindalco increases its primary ingot prices by 1.3 % today after a price cut on Saturday
Hindalco Industries Ltd has increased prices of its primary aluminium ingots today after it cut the prices of its primary aluminium ingot by more than 1% effective from Saturday, December 15. This price cut on Saturday came after the company had raised rates of its products by 2% earlier in the...
Vedanta cuts prices of aluminium ingots on December 13 in tandem with falling LME aluminium price
Vedanta Ltd raised prices of aluminium ingots by more than 1% with effect from Wednesday Dec 12, making the price of P1020 / EC High purity ingot reach INR 158,758. However, the next day, it cut prices again by almost one per cent effective from December 13. With Wednesday’s hike, rates of these...
Vedanta and Hindalco hike aluminium ingot prices by 3% after the rise in international aluminium prices
After cutting prices of aluminium ingots seven times in a row, Vedanta Ltd has raised rates of these products by nearly 3% with effect from December 4. After the increase, the price for Vedanta aluminium ingot stands at INR 157,000 (USD 2215) per tonne, up from INR 152,750 (USD 2155) per tonne on...
Vedanta to ramp up downstream capacity by 25% to combat import and boost revenue
Looking at the surge in imports, metals and mining conglomerate Vedanta Ltd has strategized a plan to raise its downstream products output by 25 per cent in the October-March period. As U.S. has restricted import of aluminium and aluminium products from China, the country has redirected its exports...
Indian aluminium producers cut aluminium ingot prices this week to keep pace with the international price
According to trade sources Nalco, Vedanta and Hindalco have cut prices of their products in accordance with the falling aluminium prices. Hindalco Industries Ltd is also reported to have cut the prices of aluminium products by more than 1%, effective November 21. The basic price of Hindalco’s P1020...
Vedanta reports 4% rise in revenue to US$7.1 billion in H1 FY2019
Vedanta Resources Limited on Monday, November 12, announced interim results for the six months ended 30 September 2018.Vedanta reported revenue of US$7.1 billion in H1 FY2019, up 4% from US$6.8 billion in H1 FY2018. The increase in revenue was attributable to higher volumes at aluminium,...
Vedanta and Hindalco cut prices of aluminium ingots in line with falling LME prices
According to trade sources both Vedanta and Hindalco have cut prices of their products on November 14 and November 15. Vedanta Ltd has cut prices of aluminium ingots by 1% with effect from November 14. The company had cut prices by over 1% last week as well. With this price cut, prices of Vedanta’s...
Vedanta to invest INR 15,000 crore in Odisha to raise alumina refinery capacity
Vedanta Resources Chairman Anil Agarwal announced on Monday, November 12, about its plan to invest INR 15,000 crore for ramping up the alumina refinery capacity at Lanjigarh to 6 million tonnes per annum and firming up the downstream sector in Odisha in next three years. “The expansion of the...
Vedanta on right track to ramp up capacity at Lanjigarh alumina refinery
Vedanta Ltd’s proposal for expansion of Lanjigarh alumina refinery was recently cleared by the High-Level Clearance Authority (HLCA), the apex body to approve investments in Odisha. The company plans to expand the capacity to six million tonnes per annum from its current 1 million tonnes. “Our...
India’s alumina import to grow 37.5% in 2018 while it surged 39% in Q1
According to the report by CARE, India ranks fourth in terms of production of alumina and produces about 5 per cent of the world alumina. The report shows there had been an 8.4 per cent year-over-year increase in alumina production from FY 2015-16 to FY 2016-17. Some of it is consumed internally...
Odisha government approves 6 manufacturing facilities investment plans including alumina & aluminium
The High Level Clearance Authority (HLCA), headed by Chief Minister Naveen Patnaik, on Saturday, November 3, reportedly gave a nod to investment proposals for setting up six mega manufacturing facilities worth INR 25,845 crore. Out of six investment proposals, three are from Vedanta Ltd. and the...
Vedanta, Jharsuguda’s Aluminum Smelters and Power Business bag Golds at the Odisha State safety Conclave 2018
Vedanta Limited, Jharsuguda’s Aluminum Smelting Business & Captive Power Plant (CPP) and Thermal Power Plant Business received Golds of the Kalinga Safety Awards for the 2017 for its excellent safety practices at the Odisha State Safety Conclave (OSSC) 2018 on 2nd November 2018 at Bhubaneshwar. Mr....
Vedanta’s alumina import stands higher than the total scrap shipped in by recyclers: Source
According to a report by BusinessLine , billionaire Anil-Agarwal-owned Vedanta has imported some 12.69 lakh tonnes of alumina this year between April and August while on the other hand, over 3000 small and medium enterprises together imported 5.41 lakh tonnes of aluminium scrap as raw material for...
