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Hindalco sees stellar gains in FY17 on better business, price rebound

Hindalco raised Rs 3,350 crore leading to a stronger balance sheet

Ujjval Jauhari 

. Hindalco’s share price has grown 2.2x in the past one year (FY17) as business prospects improved substantially. And, there are more gains in the offing.

With base metal prices rebounding from lows, completion of capacity expansions and improving profitability of domestic operations as well as Novelis (its US subsidiary) cash flow will increase further and help cut debt. While debt is seen declining, interest costs could fall faster. Following successful bond refinancing during the September quarter, Novelis refinanced its $1.8 billion term loan with Asian banks in January ...

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First Published: Mon, April 03 2017. 23:14 IST