Hindalco Ind gains 3% on ₹21,000-cr smelter expansion in Odisha; details

Hindalco Industries Share price: Shares of Aditya Birla Group’s metals flagship Hindalco Industries were in demand on the bourses on Thursday, January 29, 2026, after the company announced an update on the expansion of its aluminium operations in Odisha. Following the update, the company’s share price rose 3.16 per cent to ₹1,029.8 per share on the NSE during intraday trade on Thursday.

 

Though Hindalco Industries shares have partially pared their gains, they continued to trade higher on the bourses. At 12:16 pm, the company’s shares were seen exchanging hands at ₹1,023.25 per share, up 2.51 per cent from its previous close of ₹998.20 per share on the NSE. The benchmark NSE Nifty50, meanwhile, was trading at 25,278, down 64.30 points, or 0.25 per cent.

 

The company’s market capitalisation stood at ₹2,29,947.45 crore on the NSE as of January 29.

Hindalco announces ₹21,000-crore smelter expansion

The upward movement in Hindalco Industries’ share price came after the company flagged a ₹21,000-crore, 3.6 lakh tonne-per-annum smelter expansion at its Aditya Aluminium complex in Sambalpur and commissioned a 1.7 lakh tonne-per-annum flat rolled products (FRP) and battery-grade aluminium foil manufacturing facility with an investment of ₹4,500 crore.

 

According to the exchange filing submitted by the company, these projects mark a major step towards indigenising critical raw materials for lithium-ion batteries in India, supporting the electric mobility and energy storage ecosystem, while enhancing domestic capabilities in high-grade aluminium products. The battery-grade aluminium foil facility—India’s first of its kind—draws input directly from the FRP complex and is designed to support up to 100 GWh of lithium-ion cell manufacturing capacity.

 

“These projects form part of Hindalco’s broader growth capital expenditure programme, with around ₹37,000 crore planned for Odisha across upstream and downstream aluminium operations. The Odisha investments are a significant component of the company’s overall growth capex of ₹55,000 crore across India,” Hindalco said in a release.

 

Commenting on the development, Kumar Mangalam Birla, chairman, Aditya Birla Group, said, “India’s manufacturing growth depends on integration, value addition and sustainability. Through Hindalco, we are building a fully integrated aluminium ecosystem that spans from upstream resources to high-value downstream products. Our long-standing partnership with Odisha continues to play an important role in this journey. This strategy strengthens India’s self-reliance, supports critical sectors, and accelerates the nation’s transition towards advanced, sustainable manufacturing.”