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Hindalco shares will remain in focus on Tuesday after the Aditya Birla Group ’s metals flagship announced it has received a vesting order for the Meenakshi Coal Mine allocation in Odisha from the Ministry of Coal. This milestone follows the successful signing of the Coal Mine Development and Production Agreement (CMDPA) on November 22, 2024, marking a significant step in Hindalco’s efforts toward resource securitization, energy efficiency, and sustainable growth. In a regulatory filing, the company stated that it expects coal production to commence in CY2028, subject to the receipt of regulatory clearances and requisite approvals.
The Meenakshi coal mine is a fully explored block with a Peak Rated Capacity (PRC) of 12 million tonnes per annum and approximately 285.23 million tonnes of geological reserves. Also Read: Unimech Aerospace IPO to debut on D-Street today.
Check GMP, Other Details “With a favourable coal-to-waste stripping ratio of less than 1, the G12 grade mine is poised to be a cost-effective and sustainable energy source for the company’s operations, making the company self-reliant in coal production,” the company said. Stock Trading Masterclass on Value Investing and Company Valuation By - The Economic Times, Get Certified By India's Top Business News Brand View Program Stock Trading Market 104: Options Trading: Kickstart Your F&O Adventure By - Saketh R, Founder- QuickAlpha, Full Time Options Trader View Program Stock Trading Technical Analysis for Everyone - Technical Analysis Course By - Abhijit Paul, Technical Research Head, Fund Manager- ICICI Securities View Program Stock Trading Stock Markets Made Easy By - elearnmarkets, Financial Education by StockEdge View Program Stock Trading Renko Chart Patterns Made Easy By - Kaushik Akiwatkar, Derivative Trader and Investor View Program Stock Trading Market 101: An Insight into Trendlines and Momentum By - Rohit Srivastava, Founder- Indiacharts.com View Program Stock Trading Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading By - Rohit Srivastava, Founder- Indiacharts.
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Beyond operational benefits, the Meenakshi mine is poised to drive transformative regional impact by strengthening India’s energy security, boosting national coal production, and catalyzing economic growth in the region. The project, Hindalco said, is expected to create approximately 16,000 direct and indirect employment opportunities . Also Read : Nifty’s hot streak cooling off: 2025 returns likely to fall short In Q2 FY25, Hindalco Industries reported a 123% growth in its standalone net profit, reaching Rs 1,891 crore, compared to Rs 847 crore in the same quarter last year.
Revenue from operations increased by 8% YoY, totaling Rs 22,262 crore during the reporting period. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel ).
