Hindalco Industries Shares Soar 3% on Smelter Expansion 

Shares of  Hindalco Industries Ltd soared 3% 29 January after the company announced an expansion of its aluminium operations in Odisha. 

Hindalco Industries announced a Rs 21,000-crore, 3.6 lakh tonne-per-annum smelter expansion at its Aditya Aluminium complex in Sambalpur and commissioned a 1.7 lakh tonne-per-annum flat rolled products (FRP) and battery-grade aluminium foil manufacturing facility with an investment of Rs 4,500 crore.

According to the company’s exchange filing, these projects are a significant step toward indigenizing critical raw materials for lithium-ion batteries in India, thereby supporting the electric mobility and energy storage ecosystem and enhancing domestic capabilities in high-grade aluminium products. The battery-grade aluminium foil factory, India’s first of its kind, receives direct input from the FRP complex and is capable of producing up to 100 GWh of lithium-ion cells.

“These projects form part of Hindalco’s broader growth capital expenditure programme, with around Rs 37,000 crore planned for Odisha across upstream and downstream aluminium operations. The Odisha investments are a significant component of the company’s overall growth capex of Rs 55,000 crore across India,” Hindalco said in a release.
 
Commenting on the development, Kumar Mangalam Birla, chairman, Aditya Birla Group, said, “India’s manufacturing growth depends on integration, value addition and sustainability. Through Hindalco, we are building a fully integrated aluminium ecosystem that spans from upstream resources to high-value downstream products. Our long-standing partnership with Odisha continues to play an important role in this journey. This strategy strengthens India’s self-reliance, supports critical sectors, and accelerates the nation’s transition towards advanced, sustainable manufacturing.”

At 12:50 pm, the shares of Hindalco Industries were trading 1.98% higher at Rs 1,018 on NSE. 

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