Hindalco

Indian Government Declines Imposing Safeguard Duty on Imported Aluminium

Indian Government Declines Imposing Safeguard Duty on Imported Aluminium

The Indian government has decided against imposing import safeguards against overseas aluminium. According to the announcement, made on Tuesday, the government did not find sufficient evidence that imported aluminium impacts the domestic aluminium industry’s bottom line. The Directorate General of Safeguards, which...

Events

Hindalco Turns In Strong Financials for Second Quarter of FY 2017

Hindalco Industries Limited reported unaudited earnings for the second quarter of fiscal year 2017 on Saturday. Numbers for the firm were up, thanks in large part to a strong showing in aluminium. Hindalco’s revenues in the quarter were ₹95.62 billion, which was basically level year-on-year. PBITDA came in at ₹14.93 billion, up 39% year-on-year, and […]

Novelis Reports Numbers for Second Quarter of FY 2017

Novelis reported numbers for the second-quarter of fiscal year 2017 earlier today. The firm reported increases in both financial and production numbers for the quarter. The firm turned in a net loss of US$89 million for the just-ended quarter, down from a net loss of US$13 million in the previous year’s second quarter. Novelis factored […]

European Aluminium Demand Remains Strong: Novelis SVP

Although Europe’s economy is stagnant at present, demand for rolled aluminium is strong. So said Novelis Inc.’s senior vice president and Europe president Emilio Braghi in an interview during LMEs week. “For Europe, we’re seeing good demand in our key markets of can and automotive,” he went on. “This growth is driven by favorable material […]

Novelis Pledges US$1 MM to Habitat for Humanity

Rolled aluminium producer Novelis pledged to donate US$1 million to Habitat for Humanity on Friday, to be distributed over the next five years. The firm indicates that it is doing so in honor of its fifth annual “One Novelis Volunteer Month.” According to the press release, Novelis employees around the globe come together to serve […]

Balco Withdraws Case Against Coal Ministry Over Rejected Bid

India’s Bharat Aluminium Company (Balco) withdrew a case against the Coal Ministry at the Delhi High Court last week. Balco initially filed against the ministry opposing its decision to reject its winning bid for a coal block in Chhattisgarh. Balco initially “won” the bid in March 2015. However, the ministry subsequently rejected the bid, saying […]