With imports of finished aluminium products having risen over 50 per cent year-to-date, the micro, small and medium enterprises (MSME) segment is witnessing sharp margin contraction and slim hope for change in situation for the next six months. “Margins of MSME players have dropped to 2-3 per cent, from 8-10 per cent, as the surge in finished […]
As many as 100 virgin mineral blocks across the country are ready for online auctions, said Union minister for mines, rural development, parliamentary affairs and Panchayati Raj Narendra Singh Tomar. “So far, 53 mines have been auctioned. The electronic auction of these assets has brought in incremental revenue of Rs 1.43 trillion to states. The additional revenue […]
India’s biggest non-ferrous metal companies have sounded a warning on the country joining the 10-member Regional Comprehensive Economic Partnership (RCEP) on fears of another blow to their business after their experience of the India-ASEAN free trade agreement, the Economic Times newspaper reported. These companies — Hindalco, Vedanta, Hindustan Zinc, Hindustan Copper and Nalco — with […]
At least 75 percent of the envisaged 10 million tonnes of production of the National Aluminium Company (NALCO) should be in the downstream sector, the company’s chairman said. “Existing aluminium application is only 300 (tonnes) in India as against 3,000 (tonnes) globally. India needs to double its per capita consumption, increase applications of aluminium and […]
India’s Odisha-based National Aluminium Company (NALCO) is accumulating windfall gains from a recent spike in global alumina prices. The company’s strategy is to sell all of its surplus alumina at spot or index prices, instead of sealing long-term contracts, a move that will definitely boost its revenue and profit. Alumina contributes nearly 75 per cent to NALCO’s earnings before interest, taxes, […]
The Indian government launched its latest divestment programme by selling a 9.2 percent stake in the state-owned National Aluminum Company Ltd. (NALCO) for 1,200 crore rupees, a finance ministry statement said. The government is targeting to raise 72,500 crore rupees from stake sales in state companies in the current fiscal, after raising 46,247 crore rupees […]