Hindalco Industries Ltd to enter into MoU with Odisha Mining Corporation

Hindalco Industries Limited ('the Company') will be entering into a Memorandum of Understanding (MoU) with Odisha Mining Corporation for the long-term supply of Bauxite ore for its proposed 2-million tonne alumina refinery and 150-MW captive power plant at Kansariguda in the Rayagada District ('the project'). This will be the Company's second alumina refining facility in the Rayagada district of Odisha.

The total proposed investment of ₹8,000 crore shall be in two phases. The first phase of 1 million tonne is expected to be commissioned in FY27, at an investment of ₹5,500 crore.

The aforesaid is subject to signing of definitive document(s).

Shares of Hindalco Industries Limited was last trading in BSE at Rs. 473.10 as compared to the previous close of Rs. 480.00. The total number of shares traded during the day was 127926 in over 3909 trades.

The stock hit an intraday high of Rs. 476.70 and intraday low of 470.00. The net turnover during the day was Rs. 60623337.00.

Source : Equity Bulls

Keywords

HindalcoIndustries INE038A01020 MoU OdishaMiningCorporation LongTermSupply BauxiteOre 2MT AluminaRefinery Kansariguda