Page 4 - Hindalco Industries

Novelis files registration statement with US SEC for proposed IPO

In February, Novelis announced plans to pursue a US market IPO of shares to be offered by its sole shareholder - Hindalco

Hindalco's arm Novelis files paper with US securities regulator for IPO

Hindalco Industries on Tuesday said its arm Novalis Inc has filed papers with the US securities regulator, the Securities and Exchange Commission, for its proposed Initial Public Offering (IPO). Novelis will be listing its common shares on the New York Stock Exchange. Hindalco, the flagship company of Aditya Birla Group, did not disclose the size of the IPO of its wholly-owned subsidiary Novelis Inc. It also did not give any timeline to hit the market with its public issue. The common shares are expected to be offered by Novelis' sole shareholder -- A V Minerals (Netherlands) NV, also, a fully-owned subsidiary of Hindalco Industries Limited. Novelis Inc will not receive any proceeds from the sale of common shares by its sole shareholder. Hindalco owns 100 per cent of Novelis through AV minerals. In a regulatory filing, the company said, "it has filed a registration statement on Form F-1 with the Securities and Exchange Commission (the SEC) relating to the proposed initial public .

Coast Guard, Hindalco ink MoU for manufacturing marine-grade aluminum

The Indian Coast Guard (ICG) and a leading industry group have joined hands for manufacturing and supply of indigenous marine-grade aluminium to the country's public and private shipyards for the construction of ships, the defence ministry said on Friday. In a statement, it said ICG and Hindalco Industries inked a Memorandum of Understanding (MoU) here on Thursday. The MoU is for the manufacturing and supply of indigenous marine-grade aluminium to Indian public and private shipyards for the construction of ships. "It will also provide benefits such as quarterly pricing, priority in supplies and turnover discount," the statement added. The ICG fleet is presently operating 67 ships with aluminium hulls with the capability of operating in shallow waters. To further boost coastal security, it has planned to induct more such vessels where the indigenously manufactured marine-grade aluminium will be utilised, the ministry said. The MoU was signed in the presence of senior officials of t

Hindalco Ind gains 5% on report of Novelis Inc's likely IPO in US

On successful completion of its IPO, Novelis will be among the few subsidiaries of Indian companies to be listed separately on foreign bourses

Billionaire Birla's Hindalco Industries bids for critical minerals leases

India currently needs to import most critical minerals, and access to local mines is important for the growth of the electric vehicles market and the renewable-power sector.

Hindalco Industries Q3 results: Net profit up 71.1% on lower costs

Novelis Bay Minette project to see cost escalation of more than $1 bn

Hindalco Industries Q3 result: Profits rise 71% to reach Rs 2,331 cr

Aditya Birla Group's metal flagship Hindalco Industries on Tuesday reported 71.1 per cent rise in consolidated net profit at Rs 2,331 crore for the quarter ended December 31, 2023. The company had posted a net profit of Rs 1,362 crore in October-December FY23, Hindalco Industries said in a filing to BSE. Total income during the quarter under review dropped to Rs 52,808 crore from Rs 53,151 crore in the year-ago period. Hindalco is the world's largest aluminium company by revenues and a major player in copper. It caters to more than half of the country's copper requirement.

Hindalco well-placed in emerging demand-supply scenario for aluminium

Even with the cap, China holds 57 per cent of global production capacity

Hindalco to invest Rs 800 cr for 25,000-tonne battery foil plant in Odisha

Hindalco Industries said that it has already achieved the technology breakthrough of manufacturing battery foils at its Mouda unit in Maharashtra

Healthy prospects ahead for Hindalco; analysts positive on the stock

The stock gained over 1 per cent on results to around Rs 488. Analysts seem to be positive on the stock with valuations ranging up to Rs 580

Hindalco Industries Q2FY24 results: Net profit flat at Rs 2,196 crore

The company beat street estimates on revenue but missed it on profit reported in the quarter under review

Hindalco Industries profit remains flat at Rs 2,196 cr in September quarter

Aditya Birla Group's metal flagship Hindalco Industries said its consolidated profit was almost flat at Rs 2,196 crore in the quarter ended September 2023. The company had posted a consolidated profit of Rs 2,205 crore in the July-September period of the previous fiscal, Hindalco Industries said in a filing to BSE. In a statement, the company said its net profit at Rs 2,196 crore was in line with the previous-year quarter, and down 11 per cent quarter on quarter, mainly due to accounting adjustments arising out of conversion from US GAAP to Indian accounting standard Ind AS. The consolidated total income of the company during July-September period dropped to Rs 54,632 crore from Rs 56,504 crore in the year-ago period, Hindalco Industries said. All the business segments of the company experienced improved quarter-on-quarter (Q-o-Q) performance. The copper business achieved its highest quarterly EBITDA of Rs 653 crore, a 23 per cent rise Q-o-Q, due to highest-ever metal ...

OMC inks pact with Hindalco to supply raw minerals to alumina refinery

State-owned Odisha Mining Corporation (OMC) on Thursday signed a pact with Hindalco Industries for providing long-term raw material linkage for its refinery project at Kansariguda in Rayagada district. The agreement was signed in presence of Chief Minister Naveen Patnaik. OMC MD Balwant Singh his Hindalco counterpart Satish Pai signed the agreement for their respective organisations. The pact will speed up the work for a two-million ton alumina refinery in Rayagada. Terming the development as a significant milestone in the journey of Odisha's industrial growth, Patnaik said the state is poised to become an industrial hub of the East. "Let's co-create a future where business and socio-economic growth go hand in hand, making Odisha a shining example for the world," he said. Patnaik appealed to people of Rayagada to provide support to the refinery project, so that work can start soon and make visible changes in the lives of local people. In June, the state government came up with a n

Hindalco to sign pact with Odisha Mining Corporation for supply of Bauxite

Hindalco Industries Ltd on Thursday said it will enter into a pact with the Odisha Mining Corporation for long-term supply of Bauxite ore. The company plans to secure Bauxite ore for its proposed 2-million tonnes alumina refinery and 150-MW captive power plant at Kansariguda, Rayagada district, in Odisha. This will be Hindalco's second alumina refining plant in the Rayagada district of Odisha. "Hindalco Industries will be entering into a Memorandum of Understanding (MoU) with Odisha Mining Corporation for the long-term supply of Bauxite ore for its proposed 2-million tonnes alumina refinery and 150-MW captive power plant at Kansariguda in the Rayagada district," the company said in a regulatory filing. The total proposed investment of Rs 8,000 crore will be in two phases. The first phase of one million tonnes is likely to be commissioned in FY'27, at an investment of Rs 5,500 crore. Hindalco is one of the country's leading aluminium manufacturing companies.

7th round of commercial coal mine auction: Centre sign pacts with 6 bidders

The Centre on Friday entered into pacts with six bidders, including Hindalco Industries and NLC India Ltd, which bagged coal blocks under the seventh round of coal mines auction. The government had launched the seventh round of auctions for commercial mining of coal blocks, putting 106 mines under the hammer. In a statement, the coal ministry said that successful bidders encompass entities such Hindalco Industries Ltd, NTPC Mining Ltd, NLC India Ltd, Shri Bajrang Power & Ispat Limited and Nilkanth Mining Ltd. The mines for which these agreements have been executed are Meenakshi West, North Dhadu (Eastern Part), North Dhadu (Western Part), Pathora East, Pathora West and Sherband. Of the said blocks, four have undergone partial exploration and the other two are fully explored. The estimated total revenue generation annually from these blocks stands at approximately Rs 787.59 crore, based on production at an aggregated peak rate capacity (PRC) level of seven metric tonne per annum .

Aluminium sector surging but hampered by labour shortages: Hindalco

India is already the world's second biggest aluminium producer and third biggest consumer, with demand set to double over the next decade, Nilesh Koul, an executive with Hindalco Industries

Hindalco surges 7% in 2 days on pact with Italian firm to make rail coaches

Meanwhile, Novelis, as subsidiary of Hindalco, expects global demand for aluminum beverage can sheet to grow at a 3 per cent compounded annual growth rate from 2022 to 2031

Hindalco announces tech partnership with Italian firm to make rail coaches

Novelis, Indian firm's subsidiary, secures anchor customer for upcoming US plant

Hindalco brings in Metra to manufacture products for Indian rail coaches

The collaboration between Hindalco Industries Ltd and Metra SpA marks a pivotal move to bring world class technology

Hindalco, Texmaco to make rail wagons, coaches; invest Rs 200 crore

Aditya Birla Group flagship Hindalco Industries, and Texmaco Rail & Engineering on Thursday entered into a strategic alliance and announced a Rs 200 crore investment to develop and manufacture aluminium rail wagons and coaches that will help the Railways achieve emission goals and boost operating efficiency. The companies are identifying land in the Eastern region to set up a manufacturing unit and will invest around Rs 200 crore, Sudipta Mukherjee, the deputy managing director of Hindalco, which is the world's largest aluminium rolling and recycling company, told PTI. He further said, the partners are considering the Eastern region to set to up the plant and hope to commission the same over the next 18-24 months. The Railways has launched 'mission 3,000 mt' with a target of doubling freight capacity to reach 3,000 million tonnes by 2027 by augmenting its rolling stock, and help achieve a 45 per cent market share in freight. To meet this ambitious target, the Railways is seeking ..