With an annual casting capacity of 2,40,000 tonnes of sheet ingot, the company expects the facility to reduce its carbon emissions by more than one million tonnes each year.
Sensex has rallied 22 per cent and Nifty has gained 24 per cent in the calendar year 2021. On the last trading session of 2021, the Sensex was up 459.50 points at 58,253.82, and the Nifty was up 150 points at 17,354.
Hindalco said the transaction is expected to close next quarter. The Indian aluminium products maker informed that Hydro's Kuppam plant has a 15,00-ton aluminium extrusions capacity and is capable to carry out surface finishing and fabrication.
The company had earlier said the acquisition will strengthen Hindalco's copper rod manufacturing capacity by providing a time-to-market advantage.
Hindalco in a regulatory filing to the Bombay Stock Exchange on Wednesday added that post debt and working capital adjustment, the purchase consideration could come to around Rs 167 crore.
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
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