Hindalco

Hindalco Turns In Strong Financials for Second Quarter of FY 2017

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...

Events

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 […]

Value addition can bail out debt laden Indian producers

For primary aluminium producers in India saddled with humongous debt, shifting focus to value added products is the new buzzword, and understandably so. Volatile LME prices have eroded much of the margins of top producers like Aditya Birla Group owned Hindalco and London listed metal conglomerate Vedanta’s aluminium operations in India. Between them, the two […]

Decision by Indian Government on MIP for Aluminium Expected in Fifteen Days

The Indian government has again taken up the subject of a minimum import price (MIP) on aluminium, and, according to an official cited in the domestic press, a final decision is expected within the next fifteen days. India’s Mines Secretary Balvinder Kumar said that his ministry is looking into the proposition of an MIP on […]

Indian Government Investigating Utkal Alumina’s Operations at Rayagada

India’s National Green Tribunal (NGT) instructed the country’s forest department to inspect Utkal Alumina International Limited (UAIL) to determine whether its operations at Rayagada are situated on forest land. Sanjit Kumar Turuk, listed as the petitioner, filed a petition with NGT alleging that UAIL was given a mining lease and allowed to operate an alumina […]

Hindalco Said to Soon Sell Brazilian Assets

According to sources close to the firm, India’s Hindalco Industries is planning to shed its alumina assets and bauxite mines in Brazil. The sources indicate that commodity prices are prompting the move. The sources, who spoke to Indian media on condition of anonymity, indicate that the proceeds of the sale would be used towards debt […]