JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
Hindalco Industries, an Aditya Birla Group company, net profit increased in Q4 18% YoY to ₹2,852 crore due to lower cost, as per the average of estimates shared by nine brokerages. However, it is predicted that the revenue will decline by 2.5% to ₹54,443 crore. On Friday, the company will declare the results.
Novelis, the company’s US subsidiary, noted that its Net income attributable to common shareholder and net income from continuing operations of $600 million, fell 9% y-o-y while net income excluding special items was $688 million, down 12% y-o-y. Rolled product shipments of 951 kilo tonnes, up 2% y-o-y.
Nuvama expects aluminium, including Utkal, EBITDA to inch up by 1.8% quarter-on-quarter amid flat volume, with CoP aided marginally by higher aluminium prices. The fall in e-auction coal price in Q4 FY24 will get reflected in Q1 FY’25 due to lag effect, it said. It factors copper EBITDA per tonne of $660 a tonne down 0.3% quarter-on-quarter. Overall, EBITDA per tonne to improve to $525, up by 5% quarter-on-quarter.
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