The company is currently functioning at 75 percent capacity utilisation, says Jagmohan Chhabra, ED, Goa Carbon.
Abhijit Pati, CEO-Aluminum, Vedanta says aluminium‘s London Metal Exchange (LME) price has slid down to sub1600 level, one of the lowest level of 6 yrs.
Gare Palma IV-7 mine in Chhattisgarh, earmarked for the non-power sector, was the most sought after one in the current lot put on auction in the first tranche.
Post SC verdict on coal block allocation, JSPL cracked around 15 percent Monday. The stock has bounced back after two days of intense selling. It witnessed some buying at lower levels on Wednesday.
Tom Albanese, MD & CEO, Vedanta said the company would be very happy to participate in the auction process in case the government decides to sell its residual stake in Hindustan Zinc and Hindalco via auction.
Hindalco Industries, the manufacturer of non-ferrous metals would save nearly Rs 150 crore of interest payment on annual basis following refinancing of Utkal alumina project, Managing Director, D Bhattacharya told CNBC-TV18.
Ushdev is looking at adding zinc and aluminium to its portfolio as there is an opportunity in a market where it already has over 40 percent market share (for copper)
Hindalco Industries is contemplating options to bring down its debt cost. The company's net debt currently stands at Rs 13,000 crore
Hindalco Industries' December quarter net profit fell 4 percent to Rs 434 crore, year-on-year on higher finance cost. D Bhattacharya, MD Hindalco spoke to CNBC-TV18 regarding the result, market expectations, strategies and the challenges ahead.
In an interview to CNBC-TV18, D Bhattacharya, managing director of Hindalco says aluminium is kicking in profitability even today. "Aluminium will come back to its old glory. Even today aluminium business in Hindalco is perhaps the best, most profitable in the world. Our endeavour is to come back to the odd levels, which was even higher," he adds.
Hindalco Industries, chairman, Kumar Mangalam Birla today in the company‘s AGM said that the power cost pressure is hitting aluminum smelters hard. He also noted that China continuous to be a major demand driver for the company and copper consumption in Asia, except China, has slowed down.
MD of Hindalco Debu Bhattacharya says that the aluminium business could take a beating this quarter because the situation is much worse that what was prevalent in the fourth quarter of FY12.
Hindalco posted Editda of Rs 1045 crore in Q1. D Bhattacharya, managing director of the company tells CNBC-TV18 that Q1 has recorded the highest Ebitda for the company in the past 11 quarters. However, going ahead, he sees pressures due to a volatile LME and non-availability of coal.
In an interview with CNBC-TV18, Prasad Baji, Senior VP - Institutional Equities, Research, Edelweiss Securities Limited and J Mehra, Director of Essar Group and CEO, Essar Steel Holdings, speak about the announcements made for the metal sector in the budget.