Shares of Hindalco surged nearly 3% after the company informed bourses that it has set the floor price at Rs 184.45 per share for raising funds through qualified institutional placement (QIP) issue which opened on Thursday.
Hindalco Industries Ltd, India's biggest producer of aluminium and copper, is selling new shares to investors in a bid to raise up to Rs 3,337 crore, according to deal term sheet seen by Reuters on Thursday.
“Our copper unit expansion is underway and it will take the contribution of value-added products to 80 per cent from 35 per cent at present,&" J C Laddha, group executive president at Birla Copper, the copper division of Hindalco Industries,
Hindalco Industries has moved higher by 5% to Rs 181 on BSE, also its fresh 52-week high, in otherwise weak market after the company reported over three-fold jump in standalone net profit at Rs 440 crore for the quarter ended September 30, 2016 (Q2FY17),
Hindalco Industries reported a net profit of Rs 440 crore in the September quarter, more than three times jump from the corresponding period last year even as revenues remained flat mainly because of fall in company's total expenses.
Hindalco Industries was up 3% at Rs 172 on BSE, its highest level since December 2014, after the company’s wholly owned subsidiary, Novelis Inc has reported good set of numbers for the second quarter ended September 30, 2016 (Q2FY17).
US-based global aluminium major Alcoa’s September quarter performance and forecast has led to some disappointment. So has the recent $30-40 a tonne fall in aluminium prices at the London Metal Exchange (LME).
With realisations continuing to be muted, domestic metal companies are increasingly focusing on lowering expenses. These firms have, in fact, identified logistics as one of the major areas where costs can be curtailed to safeguard operating margins.
Hindalco Industries has moved higher to its fresh 52-week high of Rs 152, up 4% on the BSE, after the company reported a standalone net profit of Rs 294 crore for the quarter-ended June 30, 2016 (Q1FY17).
Aluminium majors like Hindalco and Bharat Aluminium Company (Balco) have started feeling the pressure of cheap imports. Cheap aluminium imports are eating up nearly 50 per cent of the total domestic cosumption.
With realisations staying weak quarter after quarter, Hindalco Industries plans to raise the contribution of value-added products to improve the company’s operating income. Satish Pai, managing director of Hindalco, talks to Aditi Divekar about it.
In 1999, when a young Kumar Mangalam Birla was looking for a chief executive officer to head the Aditya Birla group’s metal company Hindalco he zeroed in on Debnarayan Bhattacharya - Debu to his friends — a rising star at Hindustan
Revenue from aluminium was lower at Rs 82,812.11 crore in 2015-16 as against Rs 83,139.49 crore in 2014-15. Copper revenue stood at Rs 17,245.65 crore, dipping from Rs 20,492.34 crore in the previous year.