Hindalco to spend $10 bln to expand India business and Novelis, chairman says
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 22 2024
0mins
Should l Buy ?
Source: Reuters
Investment Plans: Hindalco Industries will invest $10 billion to expand its aluminium and copper operations, including projects in the U.S. with Novelis Inc and a potential new facility in Gujarat.
Business Strategy: The company aims to diversify its customer base and produce components for electric vehicle cells, while the timeline for Novelis' initial public offering remains unspecified.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
