Hindalco Industries

Novelis intends to use the net proceeds from the proposed offering to repay US$ 738 million of outstanding debt and any remaining proceeds to fund cash on its balance sheet

US-based Novelis Inc, which is part of Hindalco Industries, on Thursday said its indirect wholly-owned arm plans to raise USD 750 million through issuance of bonds. Novelis intends to use the net proceeds from the proposed offering to repay USD 738 million of outstanding debt and any remaining proceeds to fund cash on its balance sheet. "Novelis Inc...today announced that its indirect wholly-owned subsidiary Novelis Corporation has priced an offering of USD 750 million aggregate principal amount of 6.875 per cent senior notes due in January 2030, which represents an increase of USD 250 million from the offering size previously announced," it informed the bourses. Novelis Inc, a sustainable aluminum solutions provider, had reported an 18 per cent decline in net income at USD 128 million in the September quarter of 2024-25. The firm, which deals in aluminium rolled products, had reported a net income of USD 157 million in the same period of the preceding financial year, the company h

Stocks to Watch on Dec 31, 2024: From ITC to Adani Enterprises, here are few stocks that will remain in focus today

Hindalco Industries Ltd, the Aditya Birla Group's metals flagship, on Monday said it expects to begin production at the Meenakshi coal mine in Odisha in 2028. The coal mine is a fully explored block with a peak rated capacity of 12 million tonnes per annum and 285.23 million tonnes of geological reserves. With a favourable coal-to-waste stripping ratio of less than one, the G12 grade mine is poised to be a cost-effective and sustainable energy source for the company's operations, making it self-reliant in coal production, Hindalco Industries said in a regulatory filing. The mined coal will replace the company's dependence on auction and linkage coal which is currently estimated at approximately 40 per cent higher than the Meenakshi coal mine, thereby ensuring a stable supply for its smelters and solidifying its position as one of the lowest-cost producers of aluminium in the world. The Meenakshi coal mining project is expected to create approximately 16,000 direct and indirect ...

The government on Friday said it has issued allocation order for a coal mine in Odisha to Aditya Birla Group firm Hindalco Industries Ltd. The government issued the vesting order for the Meenakshi coal mine that has a peak rating capacity of 12 million tonnes per annum (MTPA). This follows the signing of the agreement for development and production of coal mine last month. The Meenakshi coal mine, a fully explored block, has geological reserves of 285.23 million tonnes (MT). The block is likely to generate an annual revenue of Rs 1,152.84 crore, based on its peak rated capacity (PRC), the coal ministry said in a statement. With an estimated capital investment of Rs 1,800 crore, the mine will significantly augment domestic coal production and contribute to strengthening energy security, it said. The development of the block is likely to provide employment to about 16,224 individuals, both directly and indirectly, contributing to the economic growth in the region. "This initiative

The company, owned by the Aditya Birla Group, said its consolidated net profit jumped 78 per cent to Rs 3,909 crore ($463.3 million) for the three months ended Sept. 30

Q2 company results, November 11: Shree Cements, Jubilant FoodWorks, Bank of India, NMDC, and Ramco Cements will release their Q2FY25 results today

Global industry body International Copper Association (ICA) has elected Aditya Birla Group firm Hindalco Industries Ltd as its newest member. Operating since 1958, Hindalco Industries., the metals flagship firm of the Aditya Birla Group, is a leading copper and aluminium producer. The company produces copper cathodes and continuous cast copper rods for domestic and international markets. "We are excited to join ICA and collaborate with the global copper fraternity to develop the value chain for this critical metal for the world's net zero transition," Rohit Pathak, CEO-Copper Business of Hindalco was quoted as saying in a press statement. India is going to be one of the most exciting hubs for Copper and its products over the next few decades, he said. ICA President Juan Ignacio Daz said, "We are excited to welcome Hindalco Industries to ICA as a key global industry player, sharing our vision to advance the future of human development." ICA is a not-for-profit trade association ...

NTPC is displaying a strong uptrend, characterised by a steady pattern of higher highs and higher lows.

The solar module manufacturing will be a good fit given Hindalco's dominance in aluminium manufacturing, one of the sources said

US subsidiary of Hindalco Industries says it will continue evaluate timing of the offering

The delay will likely have a short-term negative impact on Hindalco, said Sneha Poddar, associate vice president at Motilal Oswal Financial Services

Hindalco, a leading aluminium and copper manufacturer, holds a 100 per cent stake in Novelis, which is in a similar business

The U.S. IPO market has shown positive indications of a turnaround in 2024, after two sub par years, on hopes of rate cuts in the second half of the year and a soft landing for the economy

The strong show across metals and value-added products, plus higher margins in Novelis indicates good trends

Wins a copper mine in auctions, scouts for nickel, lignite cobalt in India auctions.

Hindalco Q4 FY24 results: The company's board recommended final dividend of at Rs 3.50 per share for the year ended March 31, 2024

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

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 .

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