Page 2 - Novelis

Novelis IPO in US SEC: A potential booster for base metals major Hindalco

The monetisation proceeds could be used to fund ongoing capex for Novelis' Bay Minette facility

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

Hindalco Industries subsidiary Novelis files draft papers for US IPO

Novelis will not receive any proceeds from share sale

Analysts hopeful for Hindalco despite Novelis' capex revised upwards

Analysts maintained consensus 'buy' rating on Hindalco though the stock lost over 12 per cent post Q3 on Tuesday, mainly due to the sharp increase in Novelis' capex, and ended flat on Wednesday

Hindalco tanks 15% post Novelis December quarter results

Novelis has significantly increased its planned capex spends for its green field expansion at Bay Minette plant from $2.7-2.8 billion to $4.1 billion.

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 announces tech partnership with Italian firm to make rail coaches

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

Novelis' disappointing Q4 suggests near-term weakness for Hindalco stock

Analysts though are positive on Hindalco, and see an improvement in business prospects from the second half of FY24

Hindalco recalibrates capex to $4.5 bn from $8 bn, cites challenges

Hindalco's stock closed flat at Rs 403.35 apiece on the BSE on Wednesday

Price volatility takes sheen off aluminium firms' capital expenditure

Hindalco's subsidiary Novelis as well as the aluminium division of Vedanta have trimmed guidance by 30-40 per cent for the year

Hindalco drops 5% as arm Novelis Q2 profit slides 23% YoY; Ebitda down 8%

As per reports, Novelis has also lowered its capital expenditure (capex) outlook for FY23 to a range of $900 million- $1 billion from the previously guided $1.3-1.6 billion

Birla's Hindalco Industries plans $2.5 billion US aluminium recycling mill

The new facility will increase Novelis's, unit of Hindalco, recycling capacity to 90 billion cans globally, from 74 billion currently

Novelis to invest $2.5 bn in US in Birla Group's biggest greenfield project

The plan is to build a new highly advanced low-carbon recycling and rolling plant in Bay Minette, Alabama, with initial 600 kilotonnes of finished aluminum goods capacity a year

Top headlines: MS cuts India GDP forecasts; Novelis to invest $2.5 bn in US

Business Standard brings you the top news of the evening

Novelis to build $50 million recycling, casting centre in South Korea

Novelis Inc, a subsidiary of Hindalco Industries, will build a USD 50 million (around Rs 373 crore) recycling and casting centre in South Korea to expand low carbon aluminium production.

Hindalco PAT jumps 96% in December quarter, stands at Rs 3,675 crore

The company said that it reported its highest net profit in Q3 FY22, surpassing all previous quarterly performances

Hindalco's subsidiary Novelis to build aluminium recycling plant in US

Once the facility become fully functional, it is likely to generate 140 new jobs in Kentucky.

Hindalco Industries earmarks capex growth of $2.5-$3 billion over 5 years

Part of the capex will be deployed towards Novelis' business regions in auto-finishing lines expansion in the US and China

Hindalco hits records in June quarter on rising commodity prices

Metals cycle is expec­ted to stay strong and aid the company, but prices may top out this fiscal

Novelis posts 180% rise in net profit to $176 million for March quarter

Novelis, a wholly-owned subsidiary of Hindalco Industries Ltd, on Wednesday posted a 179.3 per cent rise in net income to USD 176 million for the quarter ended March 31, 2021.