You are here: Home » Opinion ยป Financial X-Ray
;
Business Standard

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 ...

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.


We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

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