aluminium Industry News
Discover comprehensive updates on aluminium industry trends, aluminium stocks, and market movements.
Business Standard
Jindal India plans to invest Rs 1,500 crore to expand production capacity
Jindal India, a downstream steel player, on Thursday announced its plans to invest Rs 1,500 crore to increase its annual production capacity to 1.6 million tonne. The expansion focuses on the production of coated flat products, pipes, and crash barriers, the company said in a statement. "Jindal India announces a capex spend of over Rs 1,500 crore to effect a strategic capacity expansion of 0.6 Million MT, a 60 per cent increase from its current capacity of 1 million metric tonne per annum," it said. The expansion is expected to be completed by the financial year 2025-26, while the production is slated to be started within the ongoing fiscal, it said. The increased focus on rapidly augmenting the nation's highway network with critical safety components such as crash barriers is a key area where Jindal India has been adding value, a company spokesperson said. Part of B C Jindal Group, Jindal India Limited is into manufacturing of colour-coated and galvanized steel sheets and coils,
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Thu, Sep 19, 2024
Mint
IPO News Today Live Updates on September 19, 2024: Explore the latest on initial public offerings (IPOs), featuring insights into newly public companies and market trends. Get the details on upcoming IPOs, pricing strategies, and how these new stocks perform on the exchange, providing crucial information for investors and market watchers
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Thu, Sep 19, 2024
Mint
Excellent Wires and Packaging share price decline after listing at 5% discount
Excellent Wires and Packaging shares were listed with a discount of 5.5% at ₹85 apiece on NSE SME as against its issue price of ₹90 per share.
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Thu, Sep 19, 2024
The Economic Times
NALCO among 86 stocks set to trade ex-dividend from tomorrow. Do you own any?
National Aluminium Company and 86 other firms are in focus today as they set September 20 as the record date for dividend eligibility. Today is the last opportunity to purchase shares of these companies to qualify for the announced dividends, which are paid to shareholders listed in the company's records on the record date.
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Thu, Sep 19, 2024
Business Standard
Hindalco plans to start solar module manufacturing in Gujarat: Report
The solar module manufacturing will be a good fit given Hindalco's dominance in aluminium manufacturing, one of the sources said
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Tue, Sep 17, 2024
Business Line
Aluminium futures hovering near a resistance
Traders can short the contract with a tight stop-loss
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Tue, Sep 17, 2024
Mint
Buy or sell: Vaishali Parekh recommends three stocks to buy today — September 16
Buy or sell stocks: Vaishali Parekh has recommended three stocks to buy today — Exide Industries, National Aluminium Co., and Angel One.
Business Standard
Water storage breach in Odisha impacts agricultural areas, says Vedanta
Vedanta Aluminium is actively addressing the breach occurred on Sep 15 as extreme weather caused elevated water levels and pressure in the facility's catchment area, a Vedanta spokesperson said
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Mon, Sep 16, 2024
CNBC TV18
Vedanta Aluminium responds to dam breach at Lanjigarh refinery in Odisha
Though no injuries or loss of livestock have been reported, agricultural areas were affected by the overflow. Shares of Vedanta Ltd ended at ₹446.25, down by ₹7.65, or 1.69%, on the BSE.
The Economic Times
Wipro, National Aluminium among 5 stocks with long buildup
A long buildup indicates a bullish trend with rising open interest and volumes. On Friday, five stocks saw new long positions.
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Fri, Sep 13, 2024
Mint
Vedanta Aluminium doubles down on value-added AL to cash in on India’s construction boom, EV drive
As Vedanta Aluminium prepares for a significant demerger, the company is focused on ramping up its production of high-margin, environmentally friendly aluminium products. This move comes at a time when domestic demand is expected to double.
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Thu, Sep 12, 2024
Business Standard
Demerger of Vedanta's key businesses likely to happen by end of FY25
The demerger of mining conglomerate Vedanta Ltd's key businesses, including aluminium, into separate listed companies is expected by the end of FY25, a top official of the company said on Wednesday. Vedanta Ltd has filed an application for its demerger scheme before the National Company Law Tribunal (NCLT) after receiving a nod from lenders. Asked when is the demerger happening, John Slaven, CEO of aluminium business of Vedanta, said, "it's not within our control. It's the NCLT process. They typically take, I don't know, four to six months, to run that process. So by end of this fiscal year, by the end of this fiscal year (I see it happening)." Slaven was speaking during the launch of Vedanta Aluminum's two new products for power sector. The first product offers superior electrical conductivity, making it ideal for remelting. The second product is the electrical conductor grade wire rod, designed for winding strip applications with a balance of strength, conductivity, workability,
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Wed, Sep 11, 2024
The Economic Times
Demerger of Vedanta likely by end of FY25: Top official
Vedanta Ltd's demerger of its key businesses, including aluminium, into separate listed companies is expected by the end of FY25. The company has filed an application with the National Company Law Tribunal after receiving lender approval. This move aims to simplify Vedanta's corporate structure and offer direct investment opportunities in pure-play companies.
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Wed, Sep 11, 2024
Business Standard
Indian IT services industry to deliver 4-6% revenue growth in FY25: ICRA
The Indian IT services industry is likely to register a second consecutive year of muted revenue growth, estimated at 4-6 per cent in FY2025, but the operating profit margin is expected to be healthy, according to ICRA. The persisting challenges and tepid topline growth notwithstanding, ICRA has forecast the industry's operating profit margin (OPM) at a healthy about 22 per cent in FY2025, with attrition levels having declined considerably and seen stabilising over the near term. Despite expectations of continued subdued growth, ICRA has maintained its "stable outlook" on the Indian IT services industry, led by a well-established business position, expectation of healthy earnings and cash flow generation, and strong balance sheets of sector players. "ICRA expects FY2025 to be the second consecutive year of muted revenue growth (for its sample set companies), estimated at 4-6 per cent, given the lower discretionary technological spends by clients amidst persistent macro-economic ...
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Tue, Sep 10, 2024
The Economic Times
Vedanta Aluminium appoints David Stone as CEO-coal mines
Vedanta Aluminium has appointed David Stone as CEO of coal mines to oversee its coal mining operations. Stone will focus on optimizing resource efficiency and sustainable mining practices. Vedanta Aluminium operates five coal mines with a combined capacity of 40 million tonnes per annum, aiming for backward integration and cost reduction.
Business Line
Aluminium: Resistance ahead. Go short on a rise
MCX aluminium contract has resistance in the ₹223-224 region
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Tue, Sep 10, 2024
The Economic Times
Coforge, National Aluminium among 5 stocks with long buildup
A long buildup, marked by rising open interest and volumes with stock price increases, indicates bullish trends. On Tuesday, five stocks saw new long positions.
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Tue, Sep 10, 2024
Business Standard
Vedanta to progress from being asset manager to asset owner: Anil Agarwal
The proposed demerger of Vedanta's diverse verticals that represent more than 15 commodities, will see the company progress from being asset managers to asset owners, Chairman Anil Agarwal has said. The proposed demerger will create independent companies housing aluminium, oil and gas, power, steel and ferrous materials, and base metals businesses. The existing zinc and new incubated businesses will remain under Vedanta Ltd. "Our expansionary moves are aligned with our business model transformation. The upcoming demerger of our diverse verticals that represent more than 15 commodities, will see us progress from being asset managers to asset owners," Agarwal said in a latest report. As the company passes through the transition phase, Vedanta is focusing on consolidating and strengthening its asset base to emerge as world leaders in each of its verticals, the Chairman said. Diversified natural resources company Vedanta Ltd has filed the demerger scheme with the National Company Law .
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Sun, Sep 8, 2024
The Economic Times
Vedanta will progress from being asset manager to asset owner with demerger: Anil Agarwal
Vedanta's proposed demerger will create independent cos for its aluminium, oil and gas, power, steel, and base metals businesses, said Chairman Anil Agarwal. The existing zinc and new incubated businesses will remain under Vedanta Ltd. The company aims to complete the process by the end of this fiscal year after receiving approval from 75% of secured creditors.
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Sun, Sep 8, 2024
The Economic Times
Steel imports surge 26.5% during May-July
India's steel imports surged by 26.5% to nearly $7.3 billion during May-July 2024, according to the steel ministry's Steel Import Monitoring System. Top product categories included stainless-steel flats, ingots, and hot rolled coils. China, Norway, and Indonesia significantly increased their exports to India during this period.
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Sat, Sep 7, 2024
CNBC TV18
Sundaram Clayton's new Tamil Nadu unit begins production of aluminium die castings
The plant, in its initial phase, has an annual production capacity of 7,750 tonnes of aluminium die castings. Shares of Sundaram Clayton Ltd ended at ₹1,788.50, up by ₹44.65, or 2.56%, on the BSE.
Business Standard
Alpex Solar announces plan to double PV module capacity to 2.4 GW by FY26
Solar solutions provider Alpex Solar on Wednesday announced its expansion plans to double its photovoltaic solar module capacity to 2.4 GW by FY2025-26. A greenfield project of 1.2 GW solar PV modules capacity will be installed in the company's newly acquired land parcel at Kosi Kotwan, Mathura in Uttar Pradesh, a statement said. The company will also explore a foray into solar cell manufacturing in the range of gigawatt capacity. The new project will be funded through internal accruals and loans. Once the new line is set up, the company expects a capacity of 2.4 GW by FY2026, enabling it to meet the growing demand in India and other key global markets. The company aims at deeper integration with the solar cell foray building upon its presence in solar PV modules and aluminium frames. Ashwani Sehgal, Managing Director, Alpex Solar said, "We are exploring the foray into solar cell manufacturing. This may afford us multiple advantages, including cost, profitability, and branding, an
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Wed, Sep 4, 2024
CNBC TV18
Anil Agarwal's ₹5 crore pitch: Join Vedanta's aluminium, zinc industrial parks
Anil Agarwal, Chairman of Vedanta Resources, has announced the creation of two non-profit industrial parks aimed at revolutionising India's manufacturing and job creation. With an initial investment requirement of ₹5 crore, the parks will focus on aluminium, zinc, and silver.
Business Standard
RK Forgings up 6%, hits new high on investment in aluminium forging project
The board has given an approval for an investment of Rs 57.5 crore to set up the facility, which will primarily cater to electric vehicle (EV) market.
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Tue, Sep 3, 2024
Mint
Yatra Online acquires corporate travel agency Globe Travels for ₹128 crore
Yatra Online's ₹128 crore acquisition of Globe Travels will add 360 new corporate clients to its existing base of 850 companies..Ramkrishna Forgings will use sale proceeds to enter the aluminium forgings segment
The Economic Times
Ramkrishna Forgings to set up aluminium forging facility in Jamshedpur
Ramkrishna Forgings Ltd will invest Rs 57.5 crore in an aluminium forging facility in Jamshedpur, primarily aimed at the electric vehicle segment. With an annual capacity of 3,000 tonnes, the facility is expected to generate Rs 175 crore in additional revenue and will be operational by Q2 of the 2025-26 fiscal year.
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Mon, Sep 2, 2024
Business Line
Aluminium futures near a strong base
The September contract can rise to ₹240
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Mon, Sep 2, 2024
CNBC TV18
Ramkrishna Forgings offloads GAISL to Yatra Online for ₹128 Crore, expands into EV aluminium forging
The sale of GAISL to Yatra Online is expected to be completed within three months from the execution of the Sale and Purchase Agreement (SPA) on September 2, pending the fulfillment of conditions precedent and closing actions.
The Economic Times
Aarti Industries, National Aluminium among 5 stocks with short buildup
A short buildup occurs when there is a rise in open interest and trading volumes, coupled with a decrease in the price of the underlying stock in the F&O segment.
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Thu, Aug 29, 2024
The Economic Times
Firms seek expansion of speciality steel products covered under PLI 1.1
Speciality steel manufacturers are advocating for the inclusion of value-added products like wires, bright bars, and stainless-steel components for defence in the upcoming version of the production-linked incentive (PLI) scheme. The government has initiated discussions on broadening the PLI scope, with industry submissions expected soon. Major steel companies participated in a recent meeting to provide inputs.
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Wed, Aug 28, 2024
CNBC TV18
Nalco joint venture KABIL signs MoU with Oil India for mineral exploration
KABIL is a joint venture among three government enterprises: NALCO (National Aluminium Company), Hindustan Copper Ltd., and Mineral Exploration and Consultancy Ltd. The venture operates under the Ministry of Mines and focuses on overseas mineral asset development.
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Wed, Aug 28, 2024
The Economic Times
Ditch aluminium foil: 6 healthier food wrap alternatives
Aluminium foil is a kitchen staple, but its use for food wrapping and cooking can have potential health risks due to the possibility of aluminium leaching into food. Here are some healthier alternatives to consider:
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Wed, Aug 28, 2024
The Economic Times
Road developers to see slower revenue growth of 5-7 pc next fiscal: Crisil
Road engineering, procurement, and construction (EPC) companies are expected to see a moderate revenue growth of 5-7 per cent next fiscal due to lower national highway awarding impacting their order books. Despite this, their credit profiles are expected to remain stable supported by steady operating profitability and strong balance sheets. The slowdown in growth is attributed to various factors including procedural issues and transition-related challenges as the government explores different project models. Prices of key raw materials have decreased, providing some relief.
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Tue, Aug 27, 2024
Business Standard
Tulsi Extrusions reports standalone net loss of Rs 2.00 crore in the June 2024 quarter
Sales decline 43.91% to Rs 13.86 crore
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Tue, Aug 27, 2024
Business Standard
New mining cess may increase cost pressure for steel makers: ICRA
The enforcement of the new mining cess by some states following the Supreme Court ruling may bring challenges for the domestic steel industry by adding to the cost pressures, according to rating agency Icra. On August 14, the Supreme Court upheld the power of states to levy tax on mineral rights and mineral-bearing land, and allowed them to seek refund of royalty from April 1, 2005 onwards. This development is poised to compress operating margins across the sector, impacting both primary and secondary steel producers, Icra said in a note. While margins of the primary steel producers could shrink by 60-180 basis points, secondary producers may face a more severe impact, with margins declining by 80 -250 basis points, based on various scenarios that cess rates could vary between 5-15 per cent. The power sector, which is heavily dependent on coal, may see a rise in the cost of supply by 0.6-1.5 per cent, potentially leading to higher retail tariffs. Further, primary aluminium producer
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Mon, Aug 26, 2024
The Economic Times
Enforcement of new mining cess may increase cost pressure for steel makers: Icra
Following the Supreme Court's ruling, states may impose a mining cess, potentially raising costs in the domestic steel industry. This change could compress margins for both primary and secondary producers. The power sector and primary aluminium producers, dependent on coal, may also face increased supply costs, Icra noted.
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Mon, Aug 26, 2024