Page 5 - Hindalco Industries

Domestic primary aluminium producers pitch hard to counter cheap imports

Currently, cheap aluminium imports constitute 60 per cent of the country's total lightweight metal consumption

Hindalco Industries Q1 loss at Rs 709 cr; revenue drops to Rs 25,283 cr

Its consolidated revenue from operations during the April-June quarter dropped to Rs 25,283 crore, from over Rs 29, 972 crore in Q1 FY2019-20

Hindalco dips 1.5% on Rs 709 crore loss in June quarter

At 2:24 pm, the stock was trading 0.5 per cent lower at Rs 182.6 on the BSE, as against 593 points, or 1.56 per cent, dip in the S&P BSE Sensex

Hindalco exporting over 80% of output amid contracting domestic demand

Hindalco has restarted downstream operations at truncated capacities to meet the existing market demand

Hindalco Industries plans to sell 65% aluminum overseas this year

Exports during the year that started April will increase to as much as 65% of total output compared with 50% last year, Managing Director Satish Pai said

We have cut back on our capital expenditure for this year: Hindalco MD

In a Q&A, Satish Pai says his firm switched to higher exports in April and May as domestic demand was weak. And while metal prices remain low, around 80% of its Ebitda remains unaffected by price

Market Ahead, June 8: Top factors that could guide markets this week

The SGX Nifty is indicating a gap-up open today with the Nifty likely to open at around 10,260 levels on the back of firm global cues

Govt ends monopoly over coal; opens mining sector to private players

Joint auctions of bauxite and coal blocks expected to reduce dependence on imports

Covid-19 lockdown: 70% listed firms may dip into reserves for April pay

This will make it tough for many of them to service their fixed costs, such salary and wages, as well as interest on their loan.

Crisil revises ratings outlook on Hindalco to stable from positive

Debt-funded Aleris purchase, likely moderation in operating profits amid Covid-19 could push up debt/EBITDA ratio

Hindalco's subsidiary Novelis completes $2.8 bn acquisition of Aleris

The deal, which closed at an enterprise value of $2.8 bn, positioned Hindalco as one of the world's largest aluminium companies, with a global footprint across 49 manufacturing facilities

Hindalco gets EU go-ahead to buy Aleris for $2.6 bn; shares up 7%

Hindalco shares closed at Rs 107 a share, as all clearance for the acquisition, which was announced in July 2018, finally fell into place for the acquisition of Cleveland-based Aleris.

Hindalco delivers decent performance in Q3, outlook remains subdued

Analysts have maintained 'buy' rating on stock

Hindalco Industries Q3 profit drops 24%, income down at Rs 29,494 cr

Hindalco had posted a consolidated PAT of Rs 1,394 crore in the year-ago period; Its consolidated income dropped to Rs 29,494 crore, over Rs 33,483 crore a year ago.

Birla group firms tapping international market to raise $3.1 billion

While Novelis raised $1.6 billion at a lower rate than the previous loan, SKI Carbon Black has hired 16 banks to raise $1.5 billion by selling bonds

Technical calls by Religare Broking: Buy Hindalco Industries, Siemens

Weekly Technical Recommendations by Religare Broking Ltd.

Hindalco, Jute Corporation jointly launch reusable bags for Tirupati Temple

These bags have an aluminium foil lamination so that the laddoos retain freshness and aroma and remain free from moisture and bacteria

Nalco posts Rs 28-cr Q2 loss on weak alumina prices, high coal cost

This is a rare quarterly loss for Nalco, known for consistent profitability. It has regularly figured among the top-three forex-earning public sector companies

Top 10 biz headlines: Faster GST refunds, million auto jobs at risk & more

From a single-authority mechanism for processing GST refunds to exporters coming soon to NCLT approving JSW Steel's Rs 19,700-cr bid for Bhushan Power & Steel, here are today's top business news

No official intimation from EU on Novelis-Aleris deal approval: Birla

Hindalco cuts FY20 India capex to Rs 2,000 crore on weak LME price trend