This Aditya Birla Group Stock has a market cap of Rs. 1,07,866 crore and it said in a filing dated 11 September 2023 that it has entered into a long term contract with an American company. This company is part of the S&P BSE 100, 200 & 500 along with NIFTY 50 indices.
The shares of the company rose 1.4% within the first 15 minutes of markets opening on Tuesday and currently trades at Rs. 480. The stock is a 3 year multibagger, returning 169%, meaning if you invested Rs. 1 lakh into this company about 3 years ago, it would now be worth close to Rs. 2.7 lakh!
Hindalco Industries Ltd (“Hindalco”) stated in a press release filed yesterday night that its subsidiary company, Novelis entered into a long-term Agreement to supply Aluminum Beverage Can Sheet to Ball Corporation.
Novelis Inc is a top supplier of sustainable aluminum solutions, declared that it has begun working with the US based Ball Corporation in early 2023 under a new anchor customer agreement. Per the agreement, Aluminum sheet will be provided by Novelis to Ball Can manufacturing facilities in North America. The new agreement builds on Novelis and Ball’s decades-long collaboration.
With this contract and other commitments, Novelis has secured all of the beverage can capacity from its new plant in Bay Minette, Alabama, USA. The new plant, expected to begin commissioning in 2025, will be the first fully integrated aluminum manufacturing plant built in the U.S. in nearly 40 years and will have an initial capacity of 600,000 tonnes of finished goods primarily for the North American beverage can and automotive markets.
In another filing dated today, Hindalco has signed a technology partnership with Italy-based Metra SpA. The partnership aims to enable the production of large-size aluminum extrusion and fabrication technology for building high-speed aluminum rail coaches in India underscoring Hindalco’s flagbearer role in upholding the Indian Government’s vision to foster superior domestic manufacturing capabilities.
“Collaborating with Hindalco Industries presents an exciting opportunity to showcase the capabilities of our aluminum extrusion technology on a global stage,” Enrico Zampedri, CEO of Metra SpA, stated enthusiastically.
Hindalco Industries Limited (“HIL”), with its subsidiaries, operates in 3 business verticals, selling products of aluminum, copper and chemicals. HIL is a part of the Aditya Birla Group and was incorporated in 1958, headquartered in Mumbai, India. HIL operates across 10 countries with a wide presence in the USA, APAC and Europe.
Written by Sandeep R
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