Jun 14, 2012, 12.55 PM IST
Aditya Birla Group is in talks with American thermal coal miner Drummond Company to buy a "significant stake" in its coal mines in Colombia for USD 1 billion, the Financial Express said in a report.
The telecom-to-cement conglomerate is looking to pick up rights for about 20% to 40% of the coal produced in these mines, the report quoted a source with direct knowledge of the development.
The conglomerate is looking to strengthen its mining business and utilise coal for its captive power plants to make aluminium in India, the report said.
Aluminium maker Hindalco Industries
Reuters could not immediately reach a group spokesman for comments.
Hindalco stock price
On December 05, 2013, Hindalco Industries closed at Rs 121.90, up Rs 1.15, or 0.95 percent. The 52-week high of the share was Rs 137.00 and the 52-week low was Rs 83.05.
The company's trailing 12-month (TTM) EPS was at Rs 8.46 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 14.41. The latest book value of the company is Rs 162.00 per share. At current value, the price-to-book value of the company is 0.75.
Action in Hindalco Industries
Video of the day
Dec 5 2013, 12:20
- in FII View
Dec 4 2013, 11:08
- in FII View
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.