| | FEBRUARY 20239Hindalco Industries gained 1.71 percent to Rs.496.30 after the company's board approved the private placement of 70,000 non-convertible debentures (NCDs) of Rs.1 lakh each, totaling Rs.700 crore. These rated, listed, unsecured, redeemable, non-convertible debentures with a coupon rate of 7.60 percent p.a. will be redeemed at par 14 months after allotment, on January 18th, 2023. The NCDs will be listed on the National Stock Exchange of India's Wholesale Debt Market segment.Hindalco Industries is the Aditya Birla Group's metals flagship company. Hindalco, a $26 billion metals powerhouse, is the world's largest aluminium company by revenue and a major copper player. It is also a major producer of primary aluminium in Asia. The company reported a 35 percent drop in consolidated net profit in Q2 FY23 to Rs.2,205crore from Rs.3,417 crore in Q2 FY22. In the quarter ended 30 September 2022, consolidated revenue increased 18 percent year on year to Rs.56,176 crore.Hindalco Industries is an Aditya Birla Group subsidiary that manufactures aluminium and copper in India. The company's headquarters are in Mumbai, Maharashtra, India. The company generates $25 billion in annual revenue and employs approximately 20,000 people. It is ranked 895th in the Forbes Global 2000. Its market capitalisation was $3.4 billion at the end of May 2013. Hindalco is one of the world's largest aluminium rolling companies and one of Asia's largest primary aluminium producers. HINDALCO TO ISSUE 70,000 NCD'S AMOUNTING TO RS.700CROREIN FOCUSHINDALCO, A $26 BILLION METALS POWERHOUSE, IS THE WORLD'S LARGEST ALUMINIUM COMPANY BY REVENUE AND A MAJOR COPPER PLAYER
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