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News on Medial
JSW Group explores expansion into copper, aluminium
Livemint
·
7m ago
Medial
While the plans are at an early stage, the company has engaged consultants to explore the financial viability of such an expansion, according to chief executive Jayant Acharya. JSW Steel's falling margins due to a surge in imports may hurt the company's ability to commit capex, he warned.
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Hindalco sees strong copper, aluminium demand in India in FY25
Money Control
·
1y ago
Medial
Aditya Birla Group-owned Hindalco Industries is optimistic about the demand for copper and aluminium in India. The company noted an increase in copper demand driven by household electrification, as well as sectors like construction, automotive, telecommunications, and consumer goods. Domestic market demand for refined copper rose by 15% YoY. The revenue from Hindalco's copper business in FY24 rose to Rs 49,321 crore. The aluminium business also saw positive numbers, with increased demand from sectors such as conductor cables, cookware, and automobiles. In Q4 FY24, Hindalco's consolidated net profit rose by 31.6% YoY to Rs 3,174 crore.
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Hindalco Q3 net jumps 71% as aluminium, copper biz shine
Livemint
·
1y ago
Medial
Hindalco Industries, the flagship company of the Aditya Birla group, reported a 71% increase in its consolidated net profit for the quarter ended December. The jump in profit was driven by strong performances in its aluminium and copper businesses. Earnings before interest, tax, depreciation, and amortization (EBITDA) for the copper business grew by 20%, while the aluminium upstream business saw a rise of 54% in EBITDA. Despite a 1% decline in revenue, Hindalco remained on its growth track with a strong performance and reduced production costs.
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Mines Minister launches vision documents for Aluminium and Copper
Economic Times
·
28d ago
Medial
India aims to significantly increase domestic aluminium and copper production by 2047, as outlined in new vision documents shared by Union Coal and Mines Minister G Kishan Reddy. The Aluminium Vision Document targets a sixfold increase in output and expanding bauxite capacity. The Copper Vision aims to meet rising demand with plans for substantial refining capacity and enhanced recycling. Challenges include reliance on imports and securing supply chains, particularly for copper concentrate.
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Hindalco to invest Rs 45,000 Cr for aluminium, copper businesses over four years
YourStory
·
4m ago
Medial
Hindalco, part of the Aditya Birla Group, plans to invest ₹45,000 crore in aluminium, copper, and speciality alumina over the next three to four years, focusing on upstream operations. The initiative aims to enhance value-added products, doubling the downstream contribution to 30% of total profits. Funded by internal accruals, these efforts include renewable energy solutions and India's first Copper Foil facility for EVs, positioning Hindalco as a force for innovation and sustainability in various industrial sectors.
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JSW Group not withdrawing ₹40,000 crore EV manufacturing project from Odisha | Mint
Livemint
·
10m ago
Medial
JSW group has denied reports of withdrawing its ₹40,000 crore electric vehicle (EV) manufacturing project from Odisha to Maharashtra. The conglomerate had signed a memorandum of understanding (MoU) with the Odisha government in February to establish an EV and battery manufacturing project in Cuttack and Paradip. However, recent reports suggested the company was considering shifting the project to Maharashtra. JSW group has clarified that it is not withdrawing from Odisha. The project includes a 50 GWH EV battery plant, EV manufacturing, lithium refinery, copper smelter, and related component manufacturing units.
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Odisha clears JSW's Rs 40,000 Crore proposal to set up EV manufacturing units
OutlookIndia
·
1y ago
Medial
The Odisha government has approved a proposal by the JSW Group to establish electric vehicle (EV) manufacturing units in Cuttack and Jagatsinghpur districts with an investment of Rs 40,000 crore. The project aims to create over 11,000 jobs. JSW plans to set up an EV and EV battery manufacturing project in Cuttack, along with an original equipment manufacturing (OEM) plant for EVs and components. In addition, a complex for EV components manufacturing, including a copper smelter and a lithium smelter, will be set up in Jagatsinghpur. The state government also approved various other policies and projects.
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Gautam Adani has a new $5 billion business idea in mind | Company Business News
Livemint
·
8m ago
Medial
The Adani Group is set to invest $5 billion in India's metals business, expanding its reach beyond the cement sector. The conglomerate plans to focus on mining, refining, and production of copper, iron and steel, and aluminium over the next 3-5 years. This move will challenge existing players in the industry such as Vedanta, Hindalco Industries, and Tata Group. Adani aims to leverage its synergies with its renewable energy, transmission, logistics, ports, and infrastructure businesses to create an end-to-end ecosystem and control production costs. The company's investment in metals will support its green energy goals and reduce dependence on imports.
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Trump tariffs deal $12-billion blow to Indian engineering exports; EEPC eyes market diversification
Economic Times
·
15h ago
Medial
Indian engineering goods exporters face a $12 billion impact from a 25% US tariff starting August 1, affecting over 60% of India's engineering shipments, primarily steel and aluminium products. The move threatens India's largest export market, spurring strategies to diversify into South America and Mexico. While industry analysts foresee shipment declines, EEPC actively explores risk mitigation. Exporters are advised caution until further clarity on penalties and potential trade agreements emerges.
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Vedanta to raise up to Rs 1,000 crore via debentures
Money Control
·
1y ago
Medial
Mining conglomerate Vedanta Ltd has announced plans to raise Rs 1,000 crore (approximately $136 million) via the issuance of debentures. The company's directors have approved the allotment of 100,000 non-convertible debentures on a private placement basis. The funds will support Vedanta's operations across various sectors, including oil and gas, zinc, lead, silver, copper, iron ore, steel, nickel, aluminium, power, and glass substrate, with recent expansions into semiconductors and display glass. Vedanta Ltd is a subsidiary of Vedanta Resources Ltd and is known as one of the world's leading natural resources companies.
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Vedanta expands alumina refining capacity to 3.5 mtpa
Money Control
·
1y ago
Medial
Vedanta Aluminium has commissioned a 1.5 million tonnes per annum (mtpa) facility at its alumina refinery in Lanjigarh, Odisha, expanding its capacity to 3.5 mtpa. The expansion is part of the company's efforts to become one of the top three aluminium producers globally. The new addition takes the refinery's nameplate capacity from 2 mtpa to 5 mtpa. Vedanta Aluminium, a subsidiary of Vedanta Limited, is India's largest producer of aluminium, generating over half of India's aluminium production in FY24. Vedanta Limited posted a 18.3% decline in net profit at INR 2,013 crore for Q3 FY24.
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