The Odisha government on Thursday cleared a big ticket project proposal of Hindalco Industries Ltd worth Rs 5,000 crore.
Aditya Birla group flagship company Hindalco is keeping close watch on input prices and has secured around 3.2 million tonnes of coal in the linkage auctions, which makes up 71 per cent of its annual coal requirements, a top company official said.
The Gujarat government on Friday signed a memorandum of understanding (MoU) with Aditya Birla Group’s Hindalco Industries
It seems that Vedanta and Hindalco, which have seen a sharp rally on the bourses, are set for more gains going ahead.
The board of Hindalco Industries, which is meeting on Friday, will consider company management’s proposal to raise up to Rs 4,400 crore via debt.
Shares of metal companies were in focus with most of the frontline stocks trading higher by up to 5% after a strong rally in global commodity prices, mainly in metals.
Hindalco Industries Ltd is on a mission to lower debt, using funds from equity-raising and internal accruals to repay borrowings.
Minister of State with Independent Charge for Power, Coal and Mines Piyush Goyal with Minister of State with Independent Charge for Petroleum and Natural Gas Dharmendra Pradhan attended the concluding day of Make in Odisha Conclave at Janata Maidan here on Friday.