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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

<ul><li>At 7:45 am, the SGX Nifty was down 1% at 8.56 points pointing towards a lower start for Nifty50.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in green on Friday, on the back of positive cues from the global markets. At 7:45 am, the SGX Nifty was down 1% at 8.56 points pointing towards a lower start for Nifty50. US stocks finished higher on Thursday, buoyed by strong gains in tech shares. Nasdaq ended at a record high. Asian markets too have opened on a positive note. These are the stocks to watch out for during the trading session today: Future Retail and RIL <a href="https://www.business-standard.com/article/companies/future-enterprises-board-likely-to-discuss-merger-plan-on-saturday-120082100066_1.html">According to reports</a>, the board of Future Enterprises is likely to discuss the proposal to merge other listed group entities, such as Future Lifestyle, Future Retail, and Future Supply Chain Solutions, with itself on Saturday. After completing the process, Ambani’s owned Reliance Industries will be investing ₹8,500 crore in the merged entity by way of additional capital, said the report. The shares of RIL ended nearly 2% lower, whereas Future Retail was up 4% yesterday. Divi’s Lab and SBI Life Insurance SBI Life Insurance and Divi’s Lab will enter benchmark index Nifty50 on September 25, the stock-exchange said on Thursday. It will replace Zee Entertainment and Bharti Infratel on the index. The shares of Divi’s Lab ended nearly a percent higher, whereas SBI life Insurance tanked nearly 2% yesterday. Wipro Wipro has set up a blockchain-based gas trading platform for Uniper Global Commodities SE. The platform is built in collaboration with Uniper Global utilises a consortium model for all ssLNG market participants to help transform the trading market space, which will result in significant market efficiencies and cost savings for traders. The shares of Wipro closed nearly 2% lower yesterday. Indian Overseas Bank The Indian Overseas Bank posted a net profit of ₹121 crore for the first quarter ended June 30, mainly due to fall in bad loans. Total income of the bank during April-June 2020-21 rose to ₹5,233.63 crore from ₹5,006.48 crore in the same period of the previous fiscal, mainly due to an increase in treasury income, it said. The shares of IOB closed nearly 5% higher yesterday. Premier Explosives Premier Explosives won an order from Israel Aerospace Industries Limited. The company also added that the order is expected to be delivered within 9 months. The shares of IOB closed over 1% lower yesterday. Future Enterprises Kishore Biyani-led Future Enterprises Ltd (FEL) on Thursday said it has defaulted on interest payment of non-convertible debentures. "The company is unable to service its obligations in respect of the interest on non-convertible debentures (NCDs) due on August 16, 2020, since August 16, 2020 was holiday, interest was due on 17 August 2020," Future Enterprises said in a filing to stock-exchanges. The shares of Future Enterprises closed over 5% higher yesterday. Hindalco Hindalco Industries has signed an MoU with UltraTech Cement to deliver 1.2 million metric tonne of bauxite residue annually to the cement company’s 14 plants located across seven states. Hindalco claims to be the world’s first company to achieve 100% red mud (bauxite residue) utilisation, across three of its refineries. The shares of Hindalco closed nearly a percent higher yesterday. Punjab National Bank, Oil India, Indiabulls Housing Finance, Coffee Day Enterprises, Rossari Biotech These companies are slated to report their first-quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/ecommerce/news/indias-e-commerce-is-now-even-better-than-before-smaller-cities-add-to-the-bounty-while-metros-continue-to-lead/articleshow/77655199.cms" data-type="tilCustomLink">India’s e-commerce is now even bigger than pre-COVID – smaller cities add to the bounty while metros continue to lead</a> <a href="https://www.businessinsider.in/finance/news/rbi-governor-wants-keep-indias-monetary-war-chest-dry-for-future-use/articleshow/77656482.cms" data-type="tilCustomLink">RBI Governor wants keep India's monetary war chest dry for future use</a>

Top stocks to watch today— Wipro, Future Retail, RIL, Divi’s Lab, SBI Life Insurance, Hindalco, Rossari Biotech and more

<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

Boosted by its consumer-facing businesses like organised retail and telecom, Reliance Industries ended state-owned <keyword id="6356834" type="COMPANY" weightage="20" keywordseo="indian-oil-corporation">Indian Oil Corporation</keyword>'s (IOC) 10-year reign as India's largest company, topping the <keyword id="2941844" type="PERSON" weightage="20" keywordseo="Fortune-India-500">Fortune India 500</keyword> list. With a revenue of Rs 5.81 lakh crore in 2018-19, the Mukesh Ambani-led conglomerate also became the first privately-held and the only other company to become India's largest corporation apart from IOC for the first time in 10 years, Fortune India said. State-owned Oil and Natural Gas Corporation (ONGC) was ranked third, same as in 2018. It was followed by State Bank of India, Tata Motors and Bharat Petroleum Corporation Ltd (BPCL) -- all with no changes in their ranking between 2018 and 2019.
 The list does not take into account subsidiaries of companies and so ONGC's ranking does not reflect those from its recently acquired <keyword id="6374014" type="DOMAIN" weightage="20" keywordseo="hindustan-petroleum">Hindustan Petroleum</keyword> Corp Ltd (HPCL) as well as ONGC Videsh Ltd. Rajesh Exports climbed one position to be ranked 7th on the 2019 list and so did <keyword id="6357147" type="DOMAIN" weightage="20" keywordseo="tata-steel">Tata Steel</keyword>, Coal India, Tata Consultancy Services and Larsen &amp; Toubro that were ranked 8th, 9th, 10th and 11th, respectively. ICICI Bank rose two positions to be ranked 12th, followed by Hindalco Industries and <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword>. Vedanta Ltd slipped three positions to be ranked 18th on the 2019 list.
 Fortune India said RIL posted a 41.5 per cent rise in its revenue in the financial year 2018-19, which was 8.4 per cent more than IOC, the second-largest company on the list.
 RIL's 2018-19 revenue stood at Rs 5.81 lakh crore, while IOC posted a growth of 26.6 per cent in sales to Rs 5.36 lakh crore in the same year. RIL's profit for 2018-19 was also more than double that of IOC, at Rs 39,588 crore.
 "Over the past 10 years, the oil-to-retail conglomerate's profit has been an average three times higher than that of IOC. The highest it touched compared to IOC was up to 4.8 times, in FY15 when RIL's profit was Rs 23,566 crore and the public sector major's stood at Rs 4,912 crore," it said.
 Overall, the revenue of the Fortune India 500 companies in the 2019 list grew 9.53 per cent, while profit rose 11.8 per cent.
 A total of 57 companies dropped off the list for reasons including consolidation within the public sector banks, public sector undertakings, as well as the private sector.
 This year, the total loss posted by the 500 companies also came down, with 65 companies posting a cumulative loss of Rs 1.67 lakh crore, compared to last year's Rs 2 lakh crore racked up by 79 companies, Fortune India said.
 Public and private sector banks faced diverse fortunes in 2019. As many as 14 of 22 public sector banks reported cumulative losses of Rs 74,253 crore. In contrast, just two private sector banks posted losses (IDFC First Bank, at Rs 1,907.9 crore; and Lakshmi Vilas Bank, at Rs 894.1 crore). The total profit of 24 of private sector banks (including foreign banks and cooperative banks) was Rs 60,747 crore, a 6.16 per cent increase over 2017-18.
 Fortune India said the oil and gas sector (with eight companies) accounted for 22.3 per cent of the total revenue of the 500 companies, followed by banking with 15.88 per cent of the total.
 The banking sector, with 48 companies, is also the biggest contributor by way of the number of companies on the list. Oil and gas, however, has the highest share of profit in the 500, at 23.44 per cent. See also: <a href="https://www.businessinsider.in/business/news/ril-arm-acquires-51-78-pc-stake-in-asteria-aerospace-for-rs-23-12-cr/articleshow/72528537.cms">Reliance Industries is getting into drones with its new purchase</a>

Reliance Industries topples IOC to become India's largest company

Reacting to the latest summons by a special <keyword id="6354572" type="ORGANIZATION" weightage="80" keywordseo="CBI">CBI</keyword> court, early today, 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> said today that he will get a chance to put forward his case with all the facts and expressed confidence that the truth will prevail. 
 He told a gathering of reporters outside the <keyword id="6354721" type="ORGANIZATION" weightage="80" keywordseo="parliament">Parliament</keyword> today, after the summons were sought by the court, “Of course, I am upset but this is part of life.’ He further added, "I have always said I am open for legal scrutiny. I am sure the truth will prevail and I will get a chance to put forward my case with all the facts.” 
 Manmohan Singh, industrialist Kumar Mangalam Birla, ex-coal secretary P C Parakh and three others were summoned as accused by the special court in a <keyword id="420379" type="UNKNOWN" weightage="80" keywordseo="coal-scam">coal scam</keyword> case pertaining to allocation of Talabira-II coal block in Odisha in 2005 and asked to appear before it on April 8. 
 
 Besides these three, the court also summoned M/s <keyword id="44374" type="CITY" weightage="80" keywordseo="Hindalco">Hindalco</keyword>, its officials Shubhendu Amitabh and D Bhattacharya as accused in the case. If convicted, the accused are liable to be sentenced for a maximum of life imprisonment. The case pertains to allocation of Talabira II coal block in Odisha to M/s Hindalco in 2005, when the then Prime Minister Singh was holding the coal portfolio. 
 CBI, in its <keyword id="6358015" type="ORGANIZATION" weightage="80" keywordseo="FIR">FIR</keyword>, had named Parakh, Birla, M/s Hindalco Industries Ltd and other unknown persons for alleged offences under Section 120-B (criminal conspiracy) of the IPC and under provisions of the PCA. However, the agency had later on filed a closure report in the court, which had refused to accept it. 
 The court, in its December 16 last year order, had directed CBI to examine former Prime Minister Singh and some top officials of then Prime Minister Office (<keyword id="6365387" type="ORGANIZATION" weightage="80" keywordseo="PMO">PMO</keyword>), including Singh's then Principal Secretary T K A Nair and then private secretary B V R Subramanyam.

Coal scam: Manmohan Singh not silent anymore, says truth shall prevail

<keyword id="2628697" type="General" weightage="50" keywordseo="billionaire-mukesh-ambani" source="Orion">Billionaire Mukesh Ambani</keyword>'s <keyword id="10926" type="General" weightage="100" keywordseo="reliance" source="Orion">Reliance</keyword> Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on <keyword id="6373044" type="General" weightage="80" keywordseo="forbes" source="Orion">Forbes</keyword>' latest Global 2000 list of public companies worldwide. The Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets, and market value, Forbes said while releasing the 2023 ranking of the world's top 2,000 companies. JPMorgan, America's biggest bank with USD 3.7 trillion in assets, is at the top of the list for the first time since 2011 and has emerged stronger from this spring's regional banking crisis, with more deposits and opportunistic acquisition of the failed First Republic Bank, it said. <keyword id="6358963" type="General" weightage="50" keywordseo="warren-buffett" source="Orion">Warren Buffett</keyword>'s Berkshire Hathaway that topped the list last year, fell to the 338th position in the latest list due to unrealised losses in its investment portfolio. Saudi oil behemoth Aramco is at 2nd position followed by three giant-sized state-owned Chinese banks. Technology giants Alphabet and Apple are at 7th and 10th place, respectively. Oil-to-telecom conglomerate Reliance, with sales of USD 109.43 billion and profit of USD 8.3 billion, is the top most-ranked Indian firm at the 45th spot, climbing from the 53rd position it had held in last year's ranking. Reliance was ranked ahead of well-known names like Germany's BMW Group, Switzerland's Nestle, China's Alibaba Group, US-based Procter &amp; Gamble and Japan's Sony. State Bank of India climbed to 77th spot from 105th in the 2022 ranking. HDFC Bank is at 128th position (153 in 2022) and ICICI Bank is at 163 (204 in 2022). Other Indian firms on the list include state-owned Oil and Natural Gas Corporation at 226 and HDFC (232). Life Insurance Corporation (LIC) made its maiden entry at 363 while <keyword id="6357585" type="General" weightage="50" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (TCS) slipped to 387th rank from 384 last year. Axis Bank (423), NTPC (433), Larsen &amp; Toubro (449), Bharti Airtel (478), Kotak Mahindra Bank (502), Indian Oil Corporation (540), Infosys (554), Bank of Baroda (586), Coal India (591), Tata Steel (592), Hindalco (660) and Vedanta (687) are other notable Indian firms on the list. In all, 55 Indian firms figured on the list. Three firms of the conglomerate helmed by billionaire Gautam Adani, whose group faced a scathing attack from a US short seller earlier this year that lead to him losing the world's third richest tag, figured in the list. The three Adani Group firms in the list include Adani Enterprises at 1062, Adani Power at 1488, and Adani Ports &amp; Special Economic Zones at 1598. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/xiaomi-pad-6-redmi-buds-4-active-launched-in-india-price-specifications-and-more/articleshow/100959781.cms">Xiaomi Pad 6, Redmi Buds 4 Active launched in India – price, specifications and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/iphone-users-here-are-some-ios-17-tips-and-tricks-to-note/articleshow/100960215.cms">iPhone users, here are some iOS 17 tips and tricks to note</a>

Reliance climbs 8 spots to 45th rank on Forbes' Global 2000 list

New Delhi, Jul 15 () GE Power India on Wednesday said it has bagged multiple orders worth Rs 850.69 crore (USD 112.57 million) to implement air quality control systems technology in India. The company will supply these air quality control systems (AQCS) solutions to NTPC, Hindalco Industries and UP Rajya Vidyut Utpadan Nigam Ltd, a GE Power India statement said. According to statement, it will supply the AQCS to Hindalco Industries Ltd for their Aditya Aluminium Plant Lapanga in Sambalpur, Odisha. The project is expected to be commissioned by 2021. This technology will give a number of benefits as it facilitates sulfur dioxide (SO2) removal with lower water consumption, smaller footprint, utilization of existing stack, lesser lifecycle cost and lesser implementation time, the statement said. It will also supply ACQS to the NTPC Ltd for its Feroze Gandhi Unchahar Thermal Power Project Stage-I, II &amp; III in Rae Bareli, Uttar Pradesh. This order is expected to be completed by February 2023. Another order is to supply ACQS to UP Rajya Vidyut Utpadan Nigam (UPRVUNL) which will be setting up a combustion system modification of the boilers along with advanced firing system equipment to meet the nitrogen oxide (NOx) emission norms for their Harduaganj, Parichha and Anpara plants. The order is a first for combustion modification for NOx control by any state utility in India, the company said. "The commitment being shown by the Government of India to reduce the overall levels of SOx and NOx is very encouraging. The solutions from its AQCS portfolio will help to lower levels of SOx and NOx in emissions and will serve to improve the overall quality of air," said Prashant Jain, Managing Director of GE Power India Ltd. GE Power India Ltd is a listed legal entity of GE Steam Power business in India and one of the leading players in the Indian power generation equipment market. KKS DRR DRR

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

PTI

Top stocks to watch today— Wipro, Future Retail, RIL, Divi’s Lab, SBI Life Insurance, Hindalco, Rossari Biotech and more

Navdeep Yadav

Here are the top 10 acquisitions to have happened in India

BI India Bureau

Reliance Industries topples IOC to become India's largest company

PTI

Coal scam: Manmohan Singh not silent anymore, says truth shall prevail

BI India Bureau

Reliance climbs 8 spots to 45th rank on Forbes' Global 2000 list

PTI

GE Power wins orders worth Rs 850 cr for implementing air quality control systems technology

PTI

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