India

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

Lower Material Costs and Higher Production Boost Hindalco’s Q1 2017 Numbers

Indian aluminium producer Hindalco Industries Ltd. turned in numbers for the first quarter of FY 2017 yesterday. The Aditya Birla Group subsidiary turned in substantially better bottom-line numbers in the just-ended quarter compared to last year’s Q1. The firm increased aluminium production in the quarter by seventeen percent to 308 thousand metric tons. A drop […]

Balco Resumes Production of Rolled Aluminium

India’s Bharat Aluminium Company Limited (Balco) began sheet rolling aluminium again last week. The metal major’s sheet rolling shop (SRS) at Korba closed last August due to aluminium dumping by the People’s Republic of China and the associated drop in aluminium prices, causing the shop to run significant financial losses. According to the company, minor […]

Indian Smelters Gearing Up to Take On Flood of Chinese Aluminium

India’s aluminium companies are rebooting in an effort to combat the flooding of their domestic market by the government-subsidized smelters in the People’s Republic of China. Hindalco currently owns 46% of the domestic aluminium market share, but imports from China fill the second-largest slice of the market at just over a one-fifth share. China’s tremendous […]

Indian Government: Aluminium Tariffs Will Not Solve Sector’s Problems

India’s Economic Survey 2015-16, released on Friday of last week, indicated that aluminium production costs rose even though global costs remained static. The Survey went on to say that raising tariffs to quell imports of cheap aluminium would do harm to downstream sectors like power, transport and construction. According to the survey, India’s aluminium industry […]