The Central Bureau of Investigation (CBI) on Friday registered a fresh case against Indal (now Hindalco, an Aditya Birla Group company) and unknown public servants, alleging unauthorised use of coal in the company’s Talabira-I coal block in Odisha.
In a major benefit for domestic smelters like Hindalco and Sterlite Industries, secondary copper producers have decided to use primary metal instead of scrap as raw material due to narrowing gap between the two competing raw materials on falling copper
The Odisha unit of Bharatiya Janata Party (BJP) today demanded that the Central Bureau of Investigation (CBI) must interrogate chief minister, Naveen Patnaik for his role in recommending Talabira II coal block for Hindalco, after a court earlier this week
A special court on Tuesday came down heavily on the United Progressive Alliance (UPA) regime questioning the role of the government machinery in allegedly protecting the interest of business houses, including the Birlas.
Shares of Hindalco Industries on Tuesday plunged 5.6 per cent amid fresh concerns related to the Talabira-II coal block allocation to the company. Stock tumbled 5.67 per cent to settle at Rs 144.70 on the BSE.
The alleged irregularity in the coal block allocation to Hindalco took a new turn on Tuesday with a special court rejecting a closure report filed by the Central Bureau of Investigation (CBI) in the case two months ago.
Hindalco is a stock that has remained popular with foreign investors, even though metal prices continue to weaken globally. Over the last one year, the stock has risen 40% compared to the 37% rise in the Sensex.
Hindalco Industries, the flagship company of the Aditya Birla Group, reported a lower-than-expected standalone net profit of Rs 79 crore in the September 2014 quarter, 78 per cent lower than Rs 357 crore in the year ago period, even as the company's
Shares of metal and power companies are trading higher by up to 2.5% on the BSE after the government on Monday said it would promulgate an ordinance to resolve issues arising out of the cancellation of coal blocks.