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New Delhi, Aditya Birla Group's metal flagship <keyword id="105310" type="General" weightage="20" keywordseo="Hindalco-industries" source="Orion">Hindalco Industries</keyword> said its consolidated profit stayed almost flat at Rs 2,196 crore in the quarter ended September 2023. The company had posted a consolidated profit of Rs 2,205 crore in the July-September period of the previous fiscal, <keyword id="44374" type="General" weightage="20" keywordseo="Hindalco" source="Orion">Hindalco</keyword> Industries said in a filing to BSE. The consolidated total income of the company during the July-September period dropped to Rs 54,632 crore from Rs 56,504 crore in the year-ago period, Hindalco Industries said. A USD 28-billion metal powerhouse, Hindalco is the world's largest aluminium company by revenues and a major player in copper, serving more than half of the country's copper requirement.

Hindalco Industries Q2 2023-24 profit stays almost flat at Rs 2,196 crore

<ul><li>Hindalco Industries have surged 15% in the last 5 days on its US subsidiary Novelis' upbeat earnings and plans to raise $1,500 million.</li><li>The rally in the stock on July 29 pushed the company’s market capitalisation to ₹1 lakh crore.</li><li>Shares of the company were at a 52 week record high at ₹456.45.</li><li>Nifty Metals are up 4.5% led by gains in Tata Steel and Hindalco Industries.</li></ul>Market capitalisation of Hindalco Industries crossed ₹1 lakh crore as the stock rallied 15% in the last five days and nearly 10% on July 29. Investors took positive cues from the company’s US subsidiary Novelis that came up with its June quarter earnings this week. Not only did the company give better-than-expected earnings, it announced plans to raise $1,500 million to refinance higher-cost bonds. Shares of aluminium and copper manufacturing company Hindalco surged more than 9%, on July 29, to reach its 52 week record high of ₹456.45. Most of the metal stocks were up on Thursday, while Hindalco Industries remained the top gainer in the batch. Nifty Metals are up 4.5% led by gains in Tata Steel and Hindalco Industries. In the last 30 days, Hindalco Industries’ stock has surged 18%. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firm </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">SMC Global Securities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹464 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">ICICIdirect </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹475 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Kotak Institutional Equities </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹500 </td></tr></tbody></table> The company is yet to announce its June quarter results. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/hcl-tech-tech-mahindra-infosys-and-other-it-stocks-surge-after-cognizant-earnings-report/articleshow/84849030.cms">Cognizant guidance gets peer stocks like HCL Tech and Tech Mahindra buzzing </a> <a href="https://www.businessinsider.in/stock-market/news/tatva-chintan-pharma-chem-ipo-makes-strong-listing-on-exchanges-with-100-premium/articleshow/84849223.cms">Tatva Chintan Pharma Chem IPO makes strong listing on exchanges with 100% premium </a>

Hindalco Industries rallies 10%, market capitalisation touches ₹1 lakh crore

On Tuesday, <keyword id="19907441" type="General" weightage="20" keywordseo="Aditya-Birla-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="Aditya Birla Group" meta.hostid="261" meta.entityid="Aditya Birla Group">Aditya Birla Group</keyword>'s <keyword id="20102108" type="General" weightage="20" keywordseo="metal" source="keywords">metal</keyword> flagship <keyword id="20318152" type="General" weightage="100" keywordseo="Hindalco-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Hindalco Industries" meta.hostid="261" meta.entityid="Hindalco Industries">Hindalco Industries</keyword> reported a 25.2% rise in consolidated profit at Rs 3,074 crore for the June quarter, on the back of favourable macros, operational efficiencies and lower input costs. The company had posted a consolidated profit of Rs 2,454 crore in the year-ago period, <keyword id="20129733" type="General" weightage="20" keywordseo="hindalco" source="keywords">Hindalco</keyword> Industries said in a regulatory filing. In a statement, the company said the consolidated PAT in the first quarter of FY'25 was Rs 3,074 crore, compared to Rs 2,454 crore in Q1 FY24, up by 25 % year-on-year (YoY)." Total income during the quarter under review rose to Rs 57,437 crore, over Rs 53,382 crore noted in the year-ago period. The consolidated revenue for the first quarter stood at Rs 57,013 crore, up 8% YoY, on account of better realisations and efficiencies in India operations. "Hindalco reported an <keyword id="19957744" type="General" weightage="20" keywordseo="EBITDA" source="keywords">EBITDA</keyword> of Rs 7,992 crore (vs Rs 6,109 crore in Q1FY24) in Q1 FY25, up 31% YoY, driven by lower input costs and higher volumes," the statement said. "Our strong Q1 results ride on the back of consistent operational excellence and cost optimisation which allowed us to leverage the higher average metal prices. "The <keyword id="20076812" type="General" weightage="20" keywordseo="copper" source="keywords">copper</keyword> business achieved its highest quarterly EBITDA driven by high domestic sales (especially downstream products), healthy by-product credits and better operational efficiencies following a successful planned shutdown," Satish Pai, Managing Director, Hindalco Industries said. The <keyword id="20472150" type="General" weightage="20" keywordseo="aluminium" source="keywords">Aluminium</keyword> India upstream business recorded an 81% growth in EBITDA over the previous year, he said. "Looking ahead, the major capital formation phase of the downstream business is near completion, and from here on, we will explore growth opportunities in the upstream business, given our strong cash position," he explained. The company said its copper business delivered a new record-breaking performance in the first quarter, with EBITDA at an all-time high of Rs 805 crore, up 52% YoY, backed by higher average copper prices and robust operations. Hindalco Industries Ltd is the metal flagship company of the Aditya Birla Group. A 26 billion dollar metals powerhouse, Hindalco is the world's largest aluminium company by revenues, and the world's second largest Copper rods manufacturer (outside China). Hindalco operates across the value chain, from bauxite mining, alumina refining, coal mining, captive power plants and aluminium smelting to downstream rolling, extrusions, and foils. Along with its subsidiary <keyword id="20665479" type="General" weightage="20" keywordseo="novelis" source="keywords">Novelis</keyword>, Hindalco is the global leader in flat-rolled products, and the world's largest recycler of aluminium. Hindalco is the country's largest copper producer, serving more than half the nation's copper requirements. Its copper facility in Gujarat, comprises a copper smelter and refinery complex, downstream facilities, and a captive jetty. Hindalco's global footprint spans 52 manufacturing units across 10 countries.

Hindalco Q1 profit rises 25% Rs 3,074 crore on operational efficiencies, lower input costs

Former <keyword id="71" type="POSITION" weightage="80" keywordseo="Prime-Minister">Prime Minister</keyword> <keyword id="6359397" type="PERSON" weightage="80" keywordseo="Manmohan-Singh">Manmohan Singh</keyword> does not have to appear in a <keyword id="6364736" type="ORGANIZATION" weightage="80" keywordseo="Delhi-court">Delhi court</keyword> on April 8, the <keyword id="6354977" type="ORGANIZATION" weightage="80" keywordseo="Supreme-Court">Supreme Court</keyword> said today. The top court has suspended the summons sent to the <keyword id="6378412" type="POSITION" weightage="80" keywordseo="politician">politician</keyword> by a <keyword id="6362306" type="ORGANIZATION" weightage="80" keywordseo="CBI-court">CBI court</keyword> last month. The investigating agency has three weeks to respond to Dr Singh's petition against his summons. 
 Dr Singh, 82, had been told to make a personal appearance with industrialist Kumar <keyword id="286113" type="PERSON" weightage="80" keywordseo="Mangalam-Birla">Mangalam Birla</keyword> for a case that says a coal field was illegally awarded in 2005 to Hindalco, a company owned by Mr Birla. At the time, Dr Singh held direct charge of the <keyword id="111919" type="ORGANIZATION" weightage="80" keywordseo="coal-ministry">Coal Ministry</keyword>. 
The former PM has not been charged with any crime but is being investigated for criminal breach of trust, criminal conspiracy, and corruption. He has denied any wrong doing. The CBI has twice said it would like to close the case against him, but has been over-ruled by the judge handling the matter. 
 "There was no criminal intent, it (the allotment) was an administrative decision and not an illegality," said the politician's lawyer, <keyword id="30182" type="PERSON" weightage="80" keywordseo="Kapil-Sibal">Kapil Sibal</keyword>, who was also <keyword id="2789849" type="UNKNOWN" weightage="80" keywordseo="Telecom-Minister-in-Dr-Singh">Telecom Minister in Dr Singh</keyword>'s government. Two of Dr Singh's three daughters were present in court today. 
 The case known as "Coalgate" came to light in 2012 after <keyword id="222693" type="COMPANY" weightage="80" keywordseo="The-National">the national</keyword> auditor said 1.86 lakh crores had been lost because coal blocks were distributed without a transparent bidding process. Last year, the Supreme Court declared as illegal nearly 300 coal licenses issued by consecutive governments since 1993. Over the last few weeks, 32 of the coal blocks were auctioned by the <keyword id="6360789" type="ORGANIZATION" weightage="80" keywordseo="Modi-Government">Modi government</keyword>. 
 Judge <keyword id="2055026" type="UNKNOWN" weightage="80" keywordseo="Bharat-Parashar">Bharat Parashar</keyword> of the CBI court said in the summons to Dr Singh that "a well-planned conspiracy was hatched" to award a coal field in Odisha to <keyword id="105310" type="CITY" weightage="80" keywordseo="Hindalco-Industries">Hindalco Industries</keyword>, part of the $40 billion <keyword id="44373" type="CITY" weightage="80" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword>, which is chaired by Kumar Mangalam Birla. 
 
Hindalco has said that it made its case for the mining license "in a transparent and lawful manner".

Supreme Court sides with Ex PM Manmohan Singh, says appearance in court on April 8 not required

<keyword id="80487" type="COMPANY" weightage="20" keywordseo="walmart">Walmart</keyword>’s acquisition of <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> is the biggest ever in India, with the US-based retail giant spending <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/walmart-acquires-flipkart-for-16-bn-worlds-largest-ecommerce-deal/articleshow/64095145.cms">$16 billion</a>. But this buyout isn’t the first big takeover we’ve seen in the country. Here’s a list of some of the biggest mergers and acquisitions India has seen. Following are the top 10 acquisitions that happened in India. <ol><li>FLIPKART- WALMART: Walmart acquired 77% Flipkart for $16 billion, making it the largest acquisition involving an Indian company, in 2018.</li><li>TATA STEEL-CORUS: In 2007, <keyword id="6357147" type="COMPANY" weightage="20" keywordseo="tata-steel">Tata Steel</keyword> took over European steel major Corus for the price of $12.02 billion, making the Indian company, the world’s fifth-largest steel producer. </li><li>VODAFONE-HUTCHISON ESSAR: In 2007, the world’s largest telecom company (at the time) in terms of revenue, <keyword id="15492" type="CITY" weightage="20" keywordseo="Vodafone">Vodafone</keyword>, made an entered the Indian telecom market by acquiring a 52% stake in Hutchison Essar Ltd. Vodafone purchased 52% stake in Hutchisson Essar for about $10 billion. </li><li>HINDALCO-NOVELIS: Hindalco Industries Ltd. is a subsidiary of the Aditya Birla Group and Novelis is a world leader in the production of flat-rolled aluminum products. The <keyword id="929276" type="ORGANIZATION" weightage="20" keywordseo="Hindalco-Company">Hindalco Company</keyword> acquired the Canadian company Novelis for $6 billion, making the combined entity the world’s largest producer in rolled-aluminum.</li><li>RANBAXY-DAIICHI SANKYO: In 2008, Daiichi Sankyo Co. Ltd., signed an agreement to acquire the entire shareholders of Ranbaxy Laboratories Ltd, India. Ranbaxy’s sale to Japan’s Daiichi was priced at $4.5 billion.</li><li>ONGC-IMPERIAL ENERGY: In early 2009, Oil and Natural Gas Corp. Ltd (ONGC) took control of Imperial Energy, a UK Based firm operating in Russia for the price of $1.9 billion. </li><li>MAHINDRA &amp; MAHINDRA-SCHONEWEISS: In 2007, Mahindra &amp; Mahindra acquired 90 percent of Schoneweiss, a leading company in the forging sector in Germany. This consolidated Mahindra’s position in the global market.</li><li>STERLITE-ASARCO: In the year 2009, Sterlite Industries, a part of the <keyword id="147780" type="ORGANIZATION" weightage="20" keywordseo="Vedanta-group">Vedanta Group</keyword>, signed an agreement to acquire the copper mining company Asarco for the price of $2.6 billion. </li><li>TATA MOTORS-JAGUAR LAND ROVER: Tata Motors’ acquisition of luxury car maker Jaguar Land Rover was for the price of $2.3 billion, in 2008.</li><li>SUZLON-REPOWER: Wind Energy premier <keyword id="46212" type="ORGANIZATION" weightage="20" keywordseo="Suzlon-Energy">Suzlon Energy</keyword> acquired RePower for $1.7 billion. Suzlon Energy Limited is a wind turbine supplier based in Pune, India and RePower systems SE (now Senvion SE) is a German wind turbine company founded in 2001, owned by Centerbridge Partners. </li></ol>

Here are the top 10 acquisitions to have happened in India

<ul><li>The 30-share BSE index was trading 239 points lower, and the broader NSE Nifty was down 0.52% on Thursday at 10:00 am. </li><li>Here’s a list of the top losers and gainers in the Nifty pack. </li><li>These are the top stocks that are buzzing in trade today.</li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>The Indian equity benchmark indexes started on a weak note on Thursday, tracking losses in financial stocks ahead of Finance Minister Nirmala Sitharaman’s press conference. The 30-share BSE index was trading 239 points lower, and the broader NSE Nifty was down 0.52% on Thursday at 10:00 am. Here’s a list of the top losers and gainers in the Nifty pack. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Gainers </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top Nifty Losers </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HDFC </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Chem </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kotak Mahindra Bank </td></tr><tr><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sun Pharma </td><td style="border-left:solid #000000 0.9907650000000001pt;border-right:solid #000000 0.9907650000000001pt;border-bottom:solid #000000 0.9907650000000001pt;border-top:solid #000000 0.9907650000000001pt;vertical-align:bottom;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Axis Bank </td></tr></tbody></table>*as of November 12, 10:06 am These are the top stocks in news today. Indiabulls Housing Finance leaps 6% The shares of Indiabulls Housing Finance gained over 6% after it reported an 18.5% jump to ₹323.20 crore in its quarter-on-quarter net profit. However, its total income fell 25.9% year-on-year to ₹2,581 crore during the quarter under review. Happiest Minds Tech up over 1% The shares of Ashok Soota backed Happiest Minds Tech gained over a percent after it entered into a strategic partnership with Bengaluru-based lo-Tahoe to provide their clients with effective data discovery and governance solutions. Ashoka Buildcon zooms 6% The shares of Ashoka Buildcon zoomed 6% in a weak market after the highways builder reported a six-fold jump in consolidated profit after tax (PAT) to ₹70.42 crore for the quarter ended September 30. Aurobindo Pharma up over 5% Pharma giant Aurobindo Pharma shares soared over 5% after it reported a 26% increase in consolidated net profit to ₹805.65 crore in the second quarter ended September 30. The company’s consolidated total revenue from operations during the period under review stood at ₹6,483.44 crore as against ₹5,600.47 crore in the corresponding quarter last year. Hindalco Industries trade 3% higher The shares of Hindalco Industries were up 3% after brokerage reiterated a ‘buy’ rating citing a sharp turnaround at Novelis, the American subsidiary of Hindalco. Edelweiss Securities has set a target price of ₹250, and IIFL has set a target price of ₹212. Coal India falls over 3% The shares of state-run Coal India fell over 3% after it reported a 16% fall in its consolidated net profit to ₹2,951 crore in the second quarter ending September 30. Although, the company’s revenue from sales was at ₹19,484 crore during the quarter under review as against ₹18,986 crore in the year-ago period. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/indian-government-approves-the-pli-scheme-for-10-sectors/articleshow/79172901.cms" data-type="tilCustomLink">Indian government approves the Production Linked Incentive scheme for 10 sectors worth ₹2 lakh crore</a> <a href="https://www.businessinsider.in/business/corporates/news/spicejet-shrink-its-losses-to-112-59-crore-in-the-second-quarter-ended-september-30/articleshow/79172678.cms" data-type="tilCustomLink">Spicejet is losing one rupee where it was losing four thanks to cheaper fuel and cut in rentals</a>

You Searched For "Hindalco Industries" and got 6 results

Hindalco Industries Q2 2023-24 profit stays almost flat at Rs 2,196 crore

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Hindalco Industries rallies 10%, market capitalisation touches ₹1 lakh crore

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Hindalco Q1 profit rises 25% Rs 3,074 crore on operational efficiencies, lower input costs

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Supreme Court sides with Ex PM Manmohan Singh, says appearance in court on April 8 not required

BI India Bureau

Here are the top 10 acquisitions to have happened in India

BI India Bureau

Top stock movers — Hindalco, Indiabulls Housing, Happiest Minds Tech, Ashoka Buildcon, Aurobindo Pharma and others

Navdeep Yadav

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