Hindalco shares in focus after subsidiary acquires US-based AluChem for $125 mn
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Shares of Hindalco Industries , the metals flagship of the Aditya Birla Group , will be in focus on Wednesday after the company announced the acquisition of US-based AluChem Companies, Inc. for an enterprise value of $125 million. The deal will be executed through Aditya Holdings LLC, a step-down wholly owned subsidiary of Hindalco.This marks the first entry by an Indian company into the low-soda tabular alumina segment, significantly strengthening Hindalco's presence in precision-engineered, high-performance industrial materials. Tabular alumina is a premium-grade material used in applications across refractories, ceramics, and advanced manufacturing.With this acquisition, Hindalco enhances its footprint in North America and broadens its speciality alumina portfolio. The company's speciality alumina business — a key pillar in its value-added product strategy — has seen consistent double-digit growth and has emerged as a high-margin vertical in recent years.As speciality alumina gains traction across sectors such as electric mobility, semiconductors, and precision ceramics, the acquisition positions Hindalco to access next-generation applications and drive innovation-led growth.AluChem has a strong presence in North America, with an annual production capacity of 60,000 tonnes across three manufacturing facilities located in Ohio and Arkansas. It is a well-established supplier of ultra-low soda calcined and tabular alumina, known for its thermal and mechanical stability, catering to high-precision industries and energy-intensive applications.Kumar Mangalam Birla, Chairman of Aditya Birla Group, said, 'This acquisition is an important step in our global strategy to build a leadership position in value-added, high-tech materials.Our strategic foray into the speciality alumina space will not only accelerate the development of future-ready, sustainable solutions but also open new pathways to pursue high-impact growth opportunities."Hindalco shares have gained around 13% so far in 2025 and have delivered a robust return of 64% over the past two years. The company currently commands a market capitalisation of approximately Rs 1.5 lakh crore.: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hans India
15 minutes ago
- Hans India
Projects under 15th Finance Commission should be completed on time: Ajit Pawar
Mumbai: Maharashtra Deputy Chief Minister and Finance Minister Ajit Pawar on Wednesday directed officials of various departments to ensure a timely and high-quality completion of all projects initiated under the 15th Finance Commission. At the review meeting, Pawar said, 'The state is receiving full support from the central government for these projects. All plans have been designed considering the requirements of the next century. Departments must coordinate closely and ensure that every rupee from the Finance Commission is utilised before the end of the current financial year, and not a single rupee is returned.' He held an extensive review of major projects including creation of artificial coral reefs using the decommissioned INS Guldar near Sindhudurg, along with world-class scuba diving, submarine tourism, and an underwater museum, construction of Unity Mall near the international airport at Ulwe in Navi Mumbai, development of the Ram-Kal-Path in Nashik, construction of hostels for working women in Thane, Nagpur, Navi Mumbai, Chhatrapati Sambhajinagar, Pimpri-Chinchwad, Kalyan-Dombivli, and Solapur, conservation of cultural heritage, development of Rewas Redi coastal highway, housing schemes for police personal and projects undertaken by Urban Development, Rural Development, Disaster Management, Public Health. Deputy CM Pawar assured the state government's full support in removing any hurdles but emphasised that all projects must be completed within the timeline and meet high-quality standards. Senior officials from the departments of Finance, Planning, Urban Development, Tourism, Public Health, Forest, and Public Works attended the meeting. Earlier on Monday, Ajit Pawar presented supplementary demands worth Rs 57,509.71 crore for the financial year 2025-26 on the first day of the Monsoon Session of the Legislature. This came amid reported constraints over the availability of adequate funds due to the ballooning fiscal and revenue deficits and mounting public debt. Of the Rs 57,509.71 crore, the allocation of Rs 19,183.85 crore has been made for committed expenditure and the balance is to provide funds for various government programmes and also towards the state government's contribution in the implementation of Central government schemes. Deputy CM Pawar, during the budget session held in March this year, had tabled the supplementary demands worth Rs 6,480.20 crore.
Time of India
17 minutes ago
- Time of India
Samsung sees surge in AI appliance demand across India; aims 70% revenue from smart appliances by year-end
Samsung India is betting big on artificial intelligence (AI) to reshape the future of home appliances in the country. Speaking to Times of India, Ghufran Alam, vice president, digital appliances business, Samsung India, revealed that the company aims to generate 70% of its appliance revenue from AI-enabled products by December 2025 — a significant leap from 12% just a year ago. As part of this push, Samsung has launched two major Bespoke AI products: a 25 kg AI combo washer-dryer (India's largest residential capacity) and a Bespoke AI Family Hub refrigerator equipped with an interactive screen and smart features. The launches are a continuation of Samsung's strategy to expand AI from its premium range into the mid-segment, democratizing intelligent appliances for a broader audience. Samsung AI-powered appliances built for Indian homes A standout feature of Samsung's strategy is India-specific R&D, with three dedicated research centers working on tailoring features for local needs. One such innovation is the Stain Wash functionality in its washing machines — a feature Samsung says it developed to address India's high dust and humidity conditions that make certain stains difficult to remove. 'These features are not gimmicks,' said Alam. 'They're practical solutions born out of real insights from Indian households.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo AI-powered appliances gaining traction even in tier 2 and tier 3 cities Interestingly, Samsung has revealed that it is witnessing strong adoption in tier 2 and tier 3 cities, matching the enthusiasm seen in metros. Consumers in these regions are increasingly prioritizing energy efficiency and ease-of-use, especially as they factor in the long-term running costs of home appliances, the company says. 'Buying an appliance is a one-time investment, but what worries consumers is the electricity cost over the next 5–7 years. That's where our AI-enabled energy savings — up to 70% in some cases — really matter,' said Alam.
Economic Times
21 minutes ago
- Economic Times
July 4 a holiday in US? Check whether stock market, banks, FedEx are open or not
Is July 4 a federal holiday in the US? Is the stock market closed on 4th of July? Live Events Are banks open on July 4? What about UPS? Will packages be delivered? Is FedEx open on July 4? Is Hannaford open on July 4? Is Market Basket open? Other grocery stores? Will Home Depot be open on Fourth of July? Lowes? Trump to hold 'very special' patriotic event (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel On July 4, cities, towns and neighbourhoods across the United States burst into celebration, sound and colour. Beneath the festive atmosphere, lies a powerful story that began nearly 250 years ago in 1776. July 4, also known as Independence Day, marks the day the Declaration of Independence was adopted and the 13 North American colonies officially separated from Great Day is listed as one of 11 federal US holidays, according to the US Office of Personnel Management. Most federal workers and private sector workers are entitled to paid holiday time across all 50 states are prepping for the Fourth of July and, of course, the rousing celebrations that come with it. Booming fireworks, patriotic parades, and outdoor barbeques have become annual traditions, and many employees enjoy the day off of work for the federal the US stock market will be closed on July 4. The New York Stock Exchange, Nasdaq, and bond markets will close early the day before Independence Day (Thursday, July 3, 2025), ending for the day at 1 p.m., and will be closed on the Fourth of July. Those markets are typically open Monday through Friday, aside from select of Bank of America, Wells Fargo, PNC, Truist, CitiBank, JPMorgan Chase and Capital One will be closed on the holiday, reports USA Today. Capital One Cafes will remain pickup and delivery services will not be available on July 4 and UPS Store locations may be closed, according to the company's website. Check with your local store for specific hours of operation. UPS Express Critical service is available 365 days a year, according to the company' website. Visit for more to FedEx's website, most of the company's pickup and delivery services will not be available on July 4. FedEx Office hours will also be modified, so it is best to check with your local store for their specific hours. FedEx Custom Critical, however, is available 24/7, according to the grocery stores are open on July 4. For example, Hannaford is open on the Fourth of July, according to its website, as is Market Basket, which is open on July 4 from 7 a.m. to 9 p.m., the website grocery stores may have limited hours. For example, Trader Joe will close locations at 5 p.m., according to its website, and Whole Foods will close at 6 Depot will be open on the Fourth of July, and is even running sales, according to their website. Similarly, Lowes will be open and running Donald Trump announced Tuesday that he will kick off his Independence Day weekend by traveling to Iowa on Thursday for "a very special event, honoring our Great Country", reports Fox News."I am thrilled to announce that I will be traveling to one of my favorite places in the World, beautiful Iowa, on Thursday, July 3rd, to kick off the very beginning of our exciting Celebration of America's 250th Anniversary!" Trump posted to Truth Social yesterday."Iowa voted for me THREE TIMES, because they love my Policies for our Wonderful Farmers and Small Businesses, and they LOVE AMERICA! This will be a very special event, honoring our Great Country, and our Brave Heroes who fought to keep us FREE," he continued, and included a link for people to RSVP. "I'll also tell you some of the GREAT things I've already done on Trade, especially as it relates to Farmers. You are going to be very happy with what I say — Should be a BIG Crowd!"The event is slated to be held at the Iowa State Fairgrounds in Des Moines and is scheduled to begin at 7:30 p.m. Central Time, according to the event's website. The 250th anniversary of American independence will be held on July 4 with Trump repeatedly touting his administration will plan a year of patriotic events celebrating the anniversary.
