HINDALCO.BO - Hindalco Industries Limited

BSE - BSE Real Time Price. Currency in INR
202.15
+6.25 (+3.19%)
At close: 3:56PM IST
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Previous Close195.90
Open196.15
Bid201.90 x 0
Ask201.95 x 0
Day's Range194.85 - 208.15
52 Week Range171.25 - 259.70
Volume570,966
Avg. Volume375,603
Market Cap446.161B
Beta (3Y Monthly)0.73
PE Ratio (TTM)8.85
EPS (TTM)22.83
Earnings DateN/A
Forward Dividend & Yield1.20 (0.61%)
Ex-Dividend Date2019-08-14
1y Target Est305.58
  • Billionaire Birla’s Deal to Buy Aleris Faces U.S. Hurdle
    Bloomberg

    Billionaire Birla’s Deal to Buy Aleris Faces U.S. Hurdle

    (Bloomberg) -- Indian billionaire Kumar Mangalam Birla’s Hindalco Industries Ltd. faces another regulatory hurdle for its $2.6 billion proposed purchase of U.S. aluminum parts maker Aleris Corp., this time from Washington.The Justice Department filed a civil antitrust lawsuit seeking to block the purchase by Hindalco’s U.S. unit Novelis Corp. The case cited the need to preserve competition in the North American market for rolled aluminum sheet for automotive applications. The deal also faced antitrust objections in the European Commission earlier this year.The transaction if allowed to proceed, would enable Novelis to lock up 60% of projected total U.S. automotive body sheet capacity and the vast majority of uncommitted capacity, enabling the company to raise prices, reduce innovation and provide less favorable terms of service to the detriment of automakers and ultimately American consumers, the U.S. said.The lawsuit ignores the competition from steel, which has almost 90% share of the automotive body sheet market, Novelis said in a statement Wednesday. The case isn’t expected to impede the closing of the deal by Jan. 21, “even if a remedy is required to address the DOJ’s competitive concerns,“ it said.“Automakers increasingly need aluminum auto body sheet to satisfy American consumers’ demand for larger vehicles that are lighter and more fuel-efficient,” Makan Delrahim, the head of the Justice Department’s antitrust division, said in a statement. “The loss of a competing supplier of aluminum auto body sheet ultimately would harm American car buyers.”EU ObjectionsHindalco offered some antitrust commitments to the European Commission to gain regulatory approval for the deal, according to information on commission’s website posted last month. The deadline for taking a final decision on the deal is Oct. 7, the commission said.“Our merger with Aleris threatens no one, and to the contrary will strengthen our ability to compete against steel, meet growing customer demand for aluminum, achieve our recycling goals, and bolster our sustainability platform worldwide,” Steve Fisher, Novelis CEO said in an emailed statement, referring to the DOJ case.Shares of Hindalco in Mumbai rose as much as 3.9% Thursday, before paring gains to close 1.6% higher at 184.60 rupees ($2.57).Premium ValuationsThe retention of Aleris’s automotive body sheet business is essential for the deal to add value for Hindalco, Emkay Global Financial Services’ analysts Vishak Chandak and Kamal Kanta Sahoo said in a report. If the acquisition is blocked, it would be negative for Hindalco as aerospace and auto body sheets are the two biggest attractions of Aleris, they said.Novelis is the second Aleris suitor that faced regulatory scrutiny in the U.S. for the purchase of the Cleveland-based aluminum maker. In 2017, Aleris agreed to terminate its merger with Zhongwang USA LLC, owned by billionaire Liu Zhongtian, after failing to get approval to proceed from American regulators.“The transaction remains subject to other customary closing conditions, including receipt of regulatory approvals in Europe and China,” Sean Stack, Aleris chairman and CEO said in a separate emailed statement. “We are pleased that the parties and DOJ have agreed on a process and timetable for resolving the dispute that will permit the transaction to close by January 21, 2020, the contractual end date under the merger agreement. We continue to believe that this acquisition will be extremely positive for Aleris customers, employees and shareholders.”(Updates with analyst comment in the ninth paragraph.)\--With assistance from David McLaughlin and Swansy Afonso.To contact the reporters on this story: Joe Deaux in New York at jdeaux@bloomberg.net;Chiara Vasarri in New York at cvasarri@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Alpana Sarma, Atul PrakashFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • U.S. sues to stop Novelis purchase of Aleris
    Reuters

    U.S. sues to stop Novelis purchase of Aleris

    The U.S. Justice Department on Wednesday filed a lawsuit aimed at stopping Novelis Inc's proposed $2.6 billion purchase of Aleris Corp because of concern over higher prices for aluminium sheet used to make cars. The department said in a statement that the deal would combine two of the four major North American producers of aluminium to make automobile bodies. The department described Ohio-based Aleris as an "aggressive competitor" and said the deal would give Novelis up to 60% of projected domestic capacity.

  • Reuters

    UPDATE 2-U.S. sues to stop Novelis purchase of Aleris

    The U.S. Justice Department on Wednesday filed a lawsuit aimed at stopping Novelis Inc's proposed $2.6 billion purchase of Aleris Corp because of concern over higher prices for aluminum sheet used to make cars. The department said in a statement that the deal would combine two of the four major North American producers of aluminum to make automobile bodies. The department described Ohio-based Aleris as an "aggressive competitor" and said the deal would give Novelis up to 60% of projected domestic capacity.

  • Novelis' $2.6 billion Aleris deal set for EU green light: sources
    Reuters

    Novelis' $2.6 billion Aleris deal set for EU green light: sources

    U.S. aluminium producer Novelis is set to secure EU antitrust approval for its $2.6 billion bid for Aleris, people familiar with the matter said on Thursday. Novelis, which is U.S.-based but owned by India's Hindalco Industries, has agreed to sell Aleris' Belgian plant, the people said, to address European Commission worries that the deal may reduce competition and lead to higher prices, hitting carmakers in particular. The Commission, which is scheduled to decide on the case by Oct. 7, declined to comment.

  • Exclusive: Novelis' $2.6 billion  Aleris deal set for EU green light - sources
    Reuters

    Exclusive: Novelis' $2.6 billion Aleris deal set for EU green light - sources

    U.S. aluminum producer Novelis is set to secure EU antitrust approval for its $2.6 billion bid for Aleris, people familiar with the matter said on Thursday. Novelis, which is U.S.-based but owned by India's Hindalco Industries, has agreed to sell Aleris' Belgian plant, the people said, to address European Commission worries that the deal may reduce competition and lead to higher prices, hitting carmakers in particular. The Commission, which is scheduled to decide on the case by Oct. 7, declined to comment.

  • Reuters

    UPDATE 1-Novelis offers concessions to address EU concerns about Aleris deal

    U.S. aluminium producer Novelis has offered concessions to address EU antitrust concerns over its $2.6 billion bid for aluminium producer Aleris , a filing on the European Commission website showed on Monday. The Commission has expressed worries about reduced competition and higher prices as a result of the deal, with carmakers in particular feeling the impact. The EU competition enforcer did not provide details of the concessions, in line with its policy.

  • Novelis offers concessions to address EU concerns about Aleris deal
    Reuters

    Novelis offers concessions to address EU concerns about Aleris deal

    U.S. aluminium producer Novelis has offered concessions to address EU antitrust concerns over its $2.6 billion bid for aluminium producer Aleris, a filing on the European Commission website showed on Monday. The Commission has expressed worries about reduced competition and higher prices as a result of the deal, with carmakers in particular feeling the impact. The EU competition enforcer did not provide details of the concessions, in line with its policy.

  • Exclusive: Novelis must offer concessions or face EU veto to $2.6 billion Aleris deal - sources
    Reuters

    Exclusive: Novelis must offer concessions or face EU veto to $2.6 billion Aleris deal - sources

    U.S. aluminium maker Novelis must offer concessions to European Union competition authorities by Aug. 9 to gain approval for its $2.6 billion takeover of aluminium processor Aleris, sources close to the matter said. The European Commission conducted a four-month investigation of the acquisition and last month set out its concerns over how the deal could hurt competition, particularly for carmakers that use the companies' products. The EU competition enforcer, which is scheduled to decide on the case by Sept. 16, and Novelis declined to comment.

  • Reuters

    No Novelis concessions for now despite EU concerns over Aleris bid -sources

    U.S. aluminium producer Novelis has no plans for now to offer concessions despite EU antitrust objections over its $2.6 billion buy of processor Aleris, people close to the situation said on Thursday. Novelis, a U.S. unit of India's Hindalco Industries Ltd , announced a bid for Aleris in July last year to gain a foothold in supplying the aerospace industry and other value-added businesses globally. One of the world's biggest suppliers of aluminium sheets for beverage cans and car parts, Novelis is making its biggest acquisition as part of its diversification into premium markets.

  • Reuters

    Nifty, Sensex end weaker amid trade worries; Reliance top drag

    BENGALURU (Reuters) - Indian shares fell sharply on Tuesday to mark their worst close in nearly six weeks, dragged lower by index heavyweights such as Reliance Industries Ltd, amid lingering trade tensions ...

  • Reuters

    EU opens anti-trust probe into aluminium firm Novelis' plans to buy Aleris

    EU anti-trust regulators said on Monday they had opened an investigation into U.S. aluminium firm Novelis Inc's plans to buy processor Aleris Corps. "Our in-depth investigation aims to ensure that the acquisition of Aleris by Novelis does not have a negative impact on effective competition in aluminium markets and does not lead to less choice and higher prices for European industrial customers," Europe's antitrust chief Margrethe Vestager said in a statement. Novelis, a U.S. unit of India's Hindalco Industries Ltd , said in July it had agreed to buy Aleris for $2.6 billion, giving it a foothold in supplying the aerospace industry and other value-added businesses globally.

  • Reuters

    Hindalco third-quarter profit plunges on higher input costs

    (Reuters) - Aluminium producer Hindalco Industries Ltd posted a 34.4 percent drop in third-quarter profit on Tuesday, hurt by increase in input costs, mainly of coal and furnace oil. Standalone net profit ...

  • Reuters

    Hindalco second-quarter profit dives 21 percent, but beats estimate

    (Reuters) - Aluminium producer Hindalco Industries Ltd posted a 21.4 pct decline in Sept-quarter net profit on Friday, dragged down by rising input costs, but marginally beat estimate. Standalone profit ...

  • Reuters

    India's aluminium makers win Japan sales in market shake-up

    TOKYO/NEW DELHI (Reuters) - Indian aluminium makers including Hindalco Industries and Vedanta Ltd are boosting sales to Japan as U.S. sanctions against Russia's Rusal and import tariffs shake up traditional supply routes. India's product has generally not been regarded as high enough quality by Japan's demanding buyers, who have preferred top-tier producers like Rio Tinto, Alcoa and South32 as well as United Company Rusal.    However, imports of aluminium ingot from India doubled in the first eight months of 2018 from a year ago, Japanese trade data shows, while imports of alloy - which include higher-value products - surged 11-fold off a tiny base.

  • Reuters

    Novelis sees automotive aluminium demand more than doubling by 2025

    Demand for automotive aluminium is set to more than double by 2025, driven by surging growth in Asia, a senior executive at Novelis Inc, the world's largest maker of rolled aluminium products, said on Thursday. Automakers are turning to aluminium to replace high-strength steel, as well as combine with materials such as carbon fibre and plastics to produce lighter body panels for use in electric vehicles that meet stricter environmental standards. "Typically what we see is an increase of aluminium percentage of the (automotive) body, which is why we're projecting to grow from 1.5 million tonnes of aluminium demand this year to 3.5 million tonnes a year in 2025," said Pierre Labat, vice president of global automotive at Novelis.

  • Does Hindalco Industries Limited’s (NSE:HINDALCO) PE Ratio Signal A Buying Opportunity?
    Simply Wall St.

    Does Hindalco Industries Limited’s (NSE:HINDALCO) PE Ratio Signal A Buying Opportunity?

    This article is intended for those of you who are at the beginning of your investing journey and want to learn about the link between company’s fundamentals and stock marketRead More...