HINDALCO H1 NET PROFIT UP 19% TO Rs273 CR

Article Abstract:

Hindalco Ltd recorded a 19 percent increase in net profit to Rs273 crore in the first half of 1998-99. Its operating profit has increased by 41 percent to Rs390 crore. Aluminium production has increased by 24 percent to 11,558 tonnes (95,449 tonnes in the first half of 1997-98). Output of rolled products increased by 59 percent to 30,379 tonnes and output of wire rods increased by 8.8 percent. Production of alumina increased by 20 percent to 204,025 tonnes. Hindalco plans to commission an aluminum alloy wheel plant by the first quarter of 1999-2000 AD. (vv)

Sales, profits & dividends, Aluminum, Primary Aluminum Production, Aluminum industry, Aluminum products

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HINDALCO, INDIA FOILS AGREE TO CALL OFF PREF ISSUE DEAL

Article Abstract:

Hindalco Industries Ltd and India Foils Ltd (IFL) have decided to jointly call off the proposed preferential issue of shares and warrants of IFL to Hindalco's subsidiaries as they have not been able to agree upon a mutually beneficial deal. The two companies understand the need to protect each other's shareholders' interest and have decided to cooperate in the future. (khr)

Comment:

Hindalco Industries Ltd and India Foils Ltd (IFL) have decided to jointly call off the proposed preferential issue of shares and warrants of IFL to Hindalco's subsidiaries as they have not been able to agree upon a mutually beneficial deal.

Stockholder data, Aluminum Foil, Aluminum Sheet, Plate, and Foil Manufacturing, India Foils Ltd.

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