Hindalco Q1 standalone net profit up 43 per cent to Rs 414 cr

Aug 10 2018

Hindalco reported a 42.75 per cent jump in its standalone net profit to Rs 414 crore for the first quarter ended June 30, 2018.

Vehicle scrap policy to see another round of consultations with stakeholders: Gadkari

Aug 06 2018

The proposed policy for scrapping 20-year old commercial vehicles will go for another round of consultations with stakeholders as per the PMO directions, Union Minister Nitin Gadkari said.

Vedanta core profit rises as aluminium offsets copper weakness

Aug 06 2018

Vedanta Resources Plc reported a 26.3 percent rise in quarterly core earnings on higher aluminium production and commodity prices, and said it was hopeful of restarting its copper smelter in India.

Rusal second-quarter profit surges vs year-ago earnings despite U.S. sanctions

Aug 06 2018

Rusal posted a second-quarter profit of $440 million amid higher market prices for the metal, remaining well in the black despite sanctions imposed on the company earlier this year by Washington.

Vedanta first-quarter profit misses estimates

Jul 31 2018

Vedanta Ltd, the Indian unit of diversified mining group Vedanta Resources Plc, missed analysts estimate for first-quarter profit, as closure of its copper smelter in South India offset higher volumes at its aluminium and oil & gas businesses.

Hindalco arm Novelis to acquire Aleris for $2.58 bn

Jul 26 2018

Hindalco today said it will acquire US based aluminium producer Aleris Corporation for USD 2.58 billion through its wholly-owned subsidiary Novelis.

India engaged with US for amicable solution on duty issue: Commerce Min

Jul 18 2018

India is engaged with the US for an "amicable solution" on the issue of imposing retaliatory customs duties against US's move to hike tariffs on certain steel products, Parl was informed.

Wall St week ahead: Investors to tune in for trade impact this profit season

Jul 08 2018

Investors worry the trade conflict with China, the United States’ largest trading partner, could make companies delay plans for capital expenditures.

Government sells 3.6 percent stake in Nalco

Jul 03 2018

The government has sold 69.8 crore shares or 3.6 per cent stake in National Aluminium Company Ltd (Nalco) through Bharat 22 ETF scheme, according to a regulatory filing.

Trump urged to drop tariffs on Mexican products

Jun 27 2018

More than 60 American companies representing dairy farmers and cheesemakers in a letter have asked US President Donald Trump to suspend high steel and aluminium tariffs on Mexico.

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Stocks In News



Aircel moves SC to make Airtel clear dues

Alleges that the co withholding Rs453 Cr of bank guarantees paid on its behalf

Bank guarantees have lapsed and Aircel wants Airtel to pay the money

Alleged that Airtel is trying to usurp the sum

Aircel says without the money it may get liquidated

ET reports


Bain joins KKR in race for Max Healthcare stake

PE firms look to buy 47% stake from Life Healthcare for $450-540 Mn

ET reports


To decide on buy back of shares on Aug. 20


Co planning $400 Mn stake sale is speculative in nature

Jet Auditor BSR may quit if issues are not resolved is factually incorrect

Have been pro-actively working on multiple revenue enhancements

Evaluating various funding options to meet liquidity requirements on priority

Relationship with Etihad Airways very strong

No delays in discharging any loan obligations to any of the lenders

Default status in tabular statement only due to technical errors, rectified now

Clarifies that reports of stake sale are purely speculative

Also Clarifies that rumors of auditor quitting if issues not solved are factually incorrect

Seeks lenders help in bid to avoid default

Airline wants waiver of loan covenant on existing debt facility of $185mn

Co has to repay or refinance at least $500mn of existing debt to avoid default

Told lenders it won’t be able to meet min $50mn profit condition for FY19

Consortium of lenders yet to decide on Jet’s request

Airline’s total debt was Rs 9430 Cr as on 31st March 18

Mint reports


Have noticed a difference in your responses dated August 9 & 10

Clarify whether mgmt extension from audit committee as per Aug 10 response

Or did Audit Committee not recommend results to board as per Aug 9 response?

In Aug 10 response, details of "Certain Matters Not Closed" not provided

Provide exact reasons for which audit committee has not approved results

Again ask you to give us date when board meet to consider results will be held

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