Satish Pai, MD, Hindalco, says this quarter the sales were much higher than expected. The demand was very strong, and operational efficiencies were good. The company got a higher number, but there was also some amount of hedge accounting noise that came in, which can always go either way. So, on a consistent onward-going basis, … Read more
Good morning! It’s Tuesday, July 23, 2024, and this is The Morning Shift, your daily roundup of the top automotive headlines from around the world, in one place. Here are the important stories you need to know. Tesla Had A Very Interesting Week 1st Gear: Musk Is Prioritizing AI Over Electric Vehicles If Tesla CEO … Read more
Shares of Hindalco jumped 2% on BSE in Wednesday’s trade to the day’s high of Rs 695 after the company’s arm Novelis filed to offer 45 million shares in the US initial public offering (IPO) with a price band of $18-21 per share. Novelis is owned by the Indian conglomerate Aditya Birla Group’s Hindalco and … Read more
“I think that in Q1, we should probably do better than that because our cost of production is going to be a couple of percentage points lower than Q4,” says Satish Pai, MD, Hindalco.Let us first talk about the India operations. Your aluminium upstream shipments were flat on a sequential basis, but downstream and the … Read more
