Hindalco Industries - Aluminium Smelter Expansion Is Last In Priority: ICICI Securities
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ICICI Securities Report
Hindalco Industries Ltd.'s management was categorical in underlining that 1/2 quarters of high London Metal Exchange doesn’t impact strategy of creating more and more de-risked downstream assets as a part of portfolio.
India capex of ~ $1.1 billion over the course of next five years of which $650 million was targeted for augmenting finishing/extrusion/aluminium flat rolled products/recycling assets in aluminium stay the course.
Smelter expansion is relegated to last in priority unless:
Domestic power costs become competitive globally.
Aluminium prices staying higher for longer can be ascertained.
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