Hindalco Industries Limited an Indian aluminium and copper manufacturing company, is a subsidiary of the Aditya Birla Group. Its headquarters are at Mumbai, Maharashtra, India. The company has annual sales of US$15 billion and employs around 20,000 people. It is listed in the Forbes Global 2000 at 895th rank. The company has annual sales of US$15 billion and employs around 20,000 people.[3] It is listed in the Forbes Global 2000 at 895th rank.[5] Its market capitalisation by the end of May 2013 was US$3.4 billion.[6] Hindalco is one of the world’s largest aluminium rolling companies and one of the biggest producers of primary aluminium in Asia. The Hindustan Aluminum Corporation Limited was established in 1958 by the Aditya Birla Group. In 1962 the company began production in Renukoot in Uttar Pradesh making 20 thousand metric tons per year of aluminium metal and 40 thousand metric tons per year of alumina. In 1989 the company was restructured and renamed Hindalco .Hindalco, through its wholly owned subsidiary AV Metals Inc., acquired 75,415,536 common shares of Novelis, representing 100 percent of the issued and outstanding common shares. Immediately after closing, AV Metals Inc. transferred the common shares of Novelis to its wholly owned subsidiary AV Aluminum Inc. When Hindalco made this bid in 2007 this became the largest Indian investment in North America and the second-largest overseas investment by an Indian company (behind Tata Steel Europe‘s purchase of Corus two weeks earlier) to this time .On 15 April 2020, Hindalco Industries acquired US-based Aluminium rolled products manufacturer Aleris Corporation. Hindalco’s Novelis’ entry into the high-end aerospace segment, this deal has been closed at an enterprise value of $2.8 billion.In July 2007, Hindalco announced it is acquiring the stake of Alcan Inc.’s in the Utkal Alumina Project located in Doraguda, Odisha.
Script Name –HINDALCO
Buy Price –414.30-416.30
Profit Target-431
Stop Loss-406.7
Call Duration-DELIVERY
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