Hindalco Industries gains as its arm signs new anchor customer contract with Ball Corporation

Hindalco Industries is currently trading at Rs. 486.70, up by 2.10 points or 0.43% from its previous closing of Rs. 484.60 on the BSE.

The scrip opened at Rs. 490.00 and has touched a high and low of Rs. 490.90 and Rs. 484.85 respectively. So far 28004 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 504.00 on 18-Jan-2023 and a 52 week low of Rs. 358.80 on 28-Sep-2022.

Last one week high and low of the scrip stood at Rs. 490.90 and Rs. 467.70 respectively. The current market cap of the company is Rs. 108900.11 crore.

The promoters holding in the company stood at 34.64%, while Institutions and Non-Institutions held 52.55% and 9.13% respectively.

Hindalco Industries’ subsidiary -- Novelis Inc. has signed a new anchor customer contract with aluminum can maker Ball Corporation in North America. Under the contract, Novelis will supply aluminum sheet to Ball can making plants in North America.

With this contract and other commitments, Novelis has secured all of the beverage can capacity from its new plant in Bay Minette, Ala., underscoring the strong demand for the company’s high-recycled-content beverage can sheet. The new plant, expected to begin commissioning in 2025, will be the first fully integrated aluminum manufacturing plant built in the U.S. in nearly 40 years and will have an initial capacity of 600,000 tonnes of finished goods primarily for the North American beverage can and automotive markets.

The agreement between Novelis and Ball advances both companies’ sustainability commitments by including closed-loop recycling and joint efforts to improve beverage can recycling. Through closed-loop recycling programs, Novelis directly takes back the manufacturing scrap generated during the can-making process and recycles it into new can sheet, which is then made into new beverage cans. In addition to this continuous loop, Novelis recycles more than 82 billion used beverage cans per year into new aluminum for beverage packaging. These efforts result in lower-carbon products, as recycling aluminum requires only 5% of the energy used to make primary aluminum, resulting in 95% less carbon emissions.

Hindalco Industries is an industry leader in aluminium and copper. The company’s aluminium units across the country encompass the entire gamut of operations from bauxite mining, alumina refining, aluminium smelting to downstream rolling, extrusions, foils and alloy wheels, along with captive power plants and coal mines.