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SMEs feel the heat as copper prices hit the roof - The Hindu BusinessLine

SMEs feel the heat as copper prices hit the roof February 20, 2021 × The sharp spike in the benchmark LME (London Metal Exchange) copper prices to $8,806 a tonne from $7,755 from start of this month has put scores of small and medium enterprises in a tizzy particularly when the demand is reviving slowly after the Covid impact. In fact, copper prices have jumped 24 per cent from $6,702 a tonne logged in October. Notwithstanding the unprecedented rally, Citigroup expects copper prices to touch $10,000-12,000 a tonne given the huge demand-supply gap globally. Vijay Aggarwal , Director, Solis Corporation, said the excess liquidity in the global markets has been driving metal prices on overseas exchange and upsetting the calculation of the domestic industries which work on 2-4 per cent margin.

Tamil naduCity ofUnited kingdomSushil rathodVijay aggarwalHindalco industrieSolis corporationLondon metal exchangeManaging directorAarti flow controlsM prices jumpDuty cutதமிழ் நாடுநகரம் ஆஃப்ஒன்றுபட்டது கிஂக்டம்சுஷில் ரத்தோட்

Metal & Oil stocks trade in red: Shares of Hindalco, Tata Steel, SAIL, Reliance, IOC, ONGC and others drag

Metal & Oil stocks trade in red: Shares of Hindalco, Tata Steel, SAIL, Reliance, IOC, ONGC and others drag
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India generalHindalco industrieSteel authority of indiaTata steelReliance industriesCastrol indiaCoal indiaState run steel authorityHindustan zincஇந்தியா ஜநரல்ஹிந்டல்கோ தொழில்எஃகு அதிகாரம் ஆஃப் இந்தியாடாடா எஃகுநம்பகத்தன்மை தொழில்கள்காஸ்ட்ரோல் இந்தியாநிலக்கரி இந்தியா

Hindalco Industries Q3 PAT surges 77% to Rs 1,877 cr

On a consolidated basis, Hindalco Industries net profit soared 76.74% to Rs 1,877 crore on 19.73% increase in revenue from operations at Rs 34,958 crore in Q3 December 2020 over Q3 December 2019. Consolidated profit before tax (PBT) surged 91.01% to Rs 2,829 crore in Q3 December 2020 over Q3 December 2019. Tax expense for the quarter jumped 92.84% to Rs 808 crore as against Rs 419 crore in Q3 December 2019. The Q3 result was declared during trading hours today, 10 February 2021. The results were driven by a strong performance by Novelis and India aluminium business, supported by higher volumes and better product mix, lower input costs, stability in operations and cost saving actions. The copper business maintained its performance sequentially in Q3 FY21 versus Q2 FY21. Novelis reported an all-time high EBITDA as well as EBITDA per ton, as a result of continued demand for innovative, sustainable aluminium solutions and outstanding operational performance across its expanded busines

Satish paiHindalco industrieHindalco industriesAditya birla groupIndia businessCapital marketEconomy of indiaNifty 50Sustainable aluminium solutionsMajor copper playerManaging directorசத்தீஷ் பைஹிந்டல்கோ தொழில்ஹிந்டல்கோ தொழில்கள்இந்தியா வணிகமூலதனம் சந்தை