Shares of Aditya Birla Group's firm Hindalco Industries will be in focus after chairman Kumar Mangalam Birla announced Rs 45,000-crore investment plan for the firm across copper and aluminum segments on March 20.
In his keynote address at Hindalco Industries' launch of new brand identity, Birla said, "We are committing Rs 45,000 crore across the aluminium, copper and specialty alumina businesses to deliver both upstream and next-gen high precision engineered products to our customers."
Birla highlighted that the company is a global leader in aluminium, copper and specialty alumina. "Our primary aluminium production has expanded from a modest 20,000 tonnes in Renukoot to 1.3 million tonnes today, making us India’s largest fully integrated producer."
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The Birla Group has been on an expansion spree, sending shockwaves through the paints industry with the launch of Birla Opus. Most recently, the Group announced UltraTech Cement's foray into the cables and wires segment. During his address, Birla added that Hindalco is also moving to the next level to provide solutions in new fields such as EV mobility, renewable energy and semiconductors.
Moreover, the Aditya Birla group chairman said that the company is 'pioneering' metals that will drive India's EV revolution. "In battery materials, we are pioneering the metals that will drive India’s EV revolution."
He further said, "Our battery foil plant at Aditya and fabrication plant at Chakan are set to provide high-performance, sustainable alternatives to traditional automotive components especially for the EV industry. We are also setting up India’s first copper foil facility for EVs".
Over the past one year, Hindalco shares have surged around 31 percent in trade, outperforming the Nifty 50 index, which has risen around 5 percent during the same time period.
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