Hindalco Industries Ltd (HALC.NS)
Thu, Jul 26 2018
MUMBAI India's Hindalco Industries Ltd said its U.S. unit Novelis Inc has agreed to buy aluminum processor Aleris Corp for $2.6 billion, giving it a foothold in supplying the aerospace industry and other value-added businesses globally.
* Will increase Novelis capacity to 4.4 million tonnes (Adds Breakingviews link)
MUMBAI, July 26 India's Hindalco Industries Ltd said on Thursday its U.S. unit Novelis Inc has agreed to buy aluminium maker Aleris Corp for $2.6 billion, giving the company an entry into the aerospace sector and a higher customer base in the car industry.
July 19 Indian shares ended lower on Thursday, a day ahead of a no-confidence motion against the government, dragged by financial stocks such as Kotak Mahindra Bank Ltd .