Metals Sector

Netflix in talks with Chinese companies for partnership to enter the online video market

Netflix in talks with Chinese companies for partnership to enter the online

According to reports, Netflix is having discussions with a Chinese media company along with some other companies as it wants to enter the online video market in China. According to people who didn’t want to be named, Netflix talked to companies including Wasu Media Holding in relation to forming a partnership.

When asked about a possible China partnership, a spokeswoman, Anne Marie Squeo said that by the end of 2016, Netflix is looking forward to become almost global.

News Corp’s third quarter earnings fall 52%

News Corp’s third quarter earnings fall 52%

According to News Corp, the publisher of The Wall Street Journal, the third quarter earnings dropped 52% because advertising sales continued to decrease and foreign currency fluctuations took a toll.

After not including some items, earnings per share amounted to 5 cents and it matched estimate of analysts. News Corp (NWS) is controlled by media mogul Rupert Murdoch. Shares increased 0.2% in after-hours trading to $15.95. Company-wide revenues dropped 1% to $2.06 billion.

Nalco declines alumina supply to Vedanta

Nalco declines alumina supply to VedantaBhubaneswar, Sep 29 - Aluminium major Nalco has declined to supply a trial amount of alumina to Vedanta Aluminium, triggering a controversy here.

It agreed to supply 53 tonnes of alumina to Vedanta smelter, in the district headquarters town of Jharsuguda, about six months ago. It had also received an amount of about Rs. 1.5 million from Vedanta.

The move was seen as Nalco's renewed relationship with its private sector rival. But it came as surprise, when Chairman and Managing Director Ansuman Das said his company would not sell alumina within India.

Base Metal Commodity Update by CapitalVia

Base Metal Commodity Update by CapitalViaBase metals are expected to move down as a stronger dollar would weigh on prices ahead of US payroll numbers and Chinese trade and inflation data next week.

Trend of MCX Copper future is consolidate and also sustaining around lower levels. So, for the coming week, it could face major resistance of 495/513 whereas 461/451.90 could be a major support in MCX Copper. For the next week trader may go for sell on higher levels, if MCX Copper future sustain below 473.40 levels then it could test the level of 467.70/ 461 levels.

Base Metal Commodity Update by CapitalVia

Base Metal Commodity Update by CapitalViaWe expect base metal prices to trade on the positive note on the back of strong US data, which was higher than expectation. Copper prices are expected to move up as strong global economic recovery and supply concerns over strike threats at mines are likely to push prices higher.

Base Metal Commodity Update by CapitalVia

Base Metal Commodity Update by CapitalViaWe expect base metal prices to trade on the positive note on the back of strong manufacturing data from China, Euro Zone and US as the expectation of rise in demand for industrial metal increased. Further, rise in risk appetite in the global markets along with the expectation of strong economic data from UK may support prices to trade in green.

Hindustan Copper to sell off 4.01 percent stake

Hindustan-CopperKolkata, July 2 : State-run Hindustan Copper Ltd. (HCL) will hit the markets Wednesday with offers to sell off 4.01 percent stake of the company.

"The promoter (government) proposed to sell 37,119,152 equity shares of the face value of Rs. 5 each aggregating approximately 4.01 percent of the paid-up equity shares capital of the company (HCL)," according to a filing to the Bombay Stock Exchange (BSE) Tuesday.

NGT ruling to keep Sterlite’s copper plant closed

NGT ruling to keep Sterlite’s copper plant closedThe National Green Tribunal (NGT) has ruled against granting permission to Sterlite Industries Ltd, which is a unit of UK-based Vedanta Group, for beginning operations at its copper smelting plant in Tuticorin district of Tamil Nadu.

A bench headed by NGT chairperson Justice Swatanter Kumar noted that the expert committee report has clarified that the emission levels and ambient air quality remain under prescribed levels but said that the permission to start operations cannot be given due to reports of a gas leak from the plant.

NALCO cuts domestic aluminium price

NALCOBhubaneswar, April 3 : State-owned National Aluminium Company Ltd (NALCO) has decreased its domestic aluminium price by Rs. 3,000 a tonne as the international price of the metal has come down, a company official said Wednesday.

This is the third time since the start of last month that the Bhubaneswar-headquartered NALCO has revised the price across all products because of the fluctuation of the aluminium price at the London Metal Exchange, the official told IANS.

The company which is India's third largest aluminium producer last cut price by Rs. 6,500 and Rs. 2,000 March 1 and March 22, respectively, across all products.

NALCO eyes Rs.7,757 crore turnover in 2013-14

NALCO eyes Rs.7,757 crore turnover in 2013-14Bhubaneswar, March 25 : The state-run National Aluminium Company Limited (NALCO) Monday said it has targeted a sales turnover of Rs. 7,757 crore for 2013-14, about ten per cent higher than that of 2012-13.

NALCO signed a memorandum of understanding with the union mines ministry Monday on the physical and financial targets for 2013-14.

According to this pact, NALCO has been given an annual production target of 64.50 lakh tonnes of bauxite, 21.5 lakh tonnes of alumina, and 4.05 lakh tonnes of aluminium, the company said here in a statement.

Copper futures rise to Rs 441.70 per kg

Copper futures rise to Rs 441.70 per kgAccording to the latest figures available, the Copper futures prices rose in the markets by 0.20 per cent to Rs 441.70 per kg.

The prices of the metal rose after speculators created fresh positions in the market. Dealers said that the prices of copper increased because of a stabilizing trend at the London Metal Exchange (LME). The markets stabilized after indications that the US lawmakers are working to resolve the fiscal cliff crisis.

Metal shares outperform other sectors

Metal shares outperform other sectors The metal sector has outperformed other indices in trade today due to renewed interest shown by the investors.

Among the major metal shares, Jindal Steel, JSW Steel, Tata Steel and SAIL increased between 2.27 per cent and 0.88 per cent during the day. The BSE Metal Index recorded a strong increase of 8.81 per cent during the previous week while the Sensex has gained 1.17 per cent during the same period.

Vedanta Alumina shuts down Lanjigarh refinery

Vedanta Alumina shuts down Lanjigarh refineryVedanta Alumina Ltd. (VAL) has announced its decision to close its Lanjigarh alumina refinery in Odisha from Wednesday, thanks to acute shortage of bauxite.

VAL said it could not find any solution to ensure sustainable supplies of bauxite for the refinery despite making concerted efforts in the last three months.

It added that the one million tonne per annum (mtpa) alumina refinery at Lanjigarh in the district of Kalahandi had been running at just around one-fifth of its capacity for the last few days.

Govt. to sell 4% stake in HCL on Friday

Govt. to sell 4% stake in HCL on FridayThe Union Government's ambitious disinvestment programme will kick off this Friday with a 4 per cent stake sale in Hindustan Copper Ltd (HCL).

In a filing with the Bombay Stock Exchange (BSE), HCL said the sale should commence at 9.15 am on 23rd of November and close at 3.30 pm on the same day.

The stake sale, which will take place through the auction route, will fetch the exchequer an estimated amount of nearly Rs 900 crore.

Hindalco Industries’ quarterly net profit dips 29% year-on-year

Hindalco Industries’ quarterly net profit dips 29% year-on-yearA combination of internal and external factors negatively impacted Hindalco Industries' quarterly performance, forcing the Aditya Birla flagship firm to post a decline in revenue and net profit.

On Tuesday, Hindalco Industries posted a 29 per cent decline in its net profit to Rs 359 crore for the quarter ended September 30, thanks to lower realizations on weak prices of aluminium on the London Metal Exchange (LME).

Godawari Power Buy Call by Emkay Global; Prabhudas Lilladher Bets on Divis Labs

Godawari Power Buy Call by Emkay Global; Prabhudas Lilladher Bets on Divis LabsEmkay Global Financial Services has given target price of Rs 143 for Godavari Power and Ispat. The analyst house has given bullish outlook for the power and metals sector company based on good growth during the previous quarter.

The business has improved and 102% higher iron ore mining compared to same period of previous year. Emkay Global has given buy call for the stock.

Vedanta Aluminium resumes operations at Odisha

Vedanta Aluminium resumes operations at OdishaIndia's largest aluminium maker, Vedanta Aluminium has resumes operations at its alumina refinery in after a halt of ten days.

However, company officials indicated that the company might face another halt in production in December if it is unable to secure supplies of more bauxite. The company's refinery in the state with a capacity of 1 million tonne per annum was closed down on October 12 after it used up all supplies of bauxite, which is a crucial material in the production of alumina.

Vedanta Aluminium urges govt. to curb bauxite exports

Vedanta Aluminium urges govt. to curb bauxite exportsVedanta Aluminium, part of London-listed Vedanta Resources, has urged the government of India to curb exports of bauxite to foreign countries so that domestic industry could get the required amount of raw material.

Vedanta Aluminium said that ensuring sufficient amount of the mineral for the domestic industry would help the industry to grow faster, and help in the growth of the overall economy.

It said allowing bauxite exports at this crucial point of time could not be justified in the interest of the nation.

Hindalco’s Q4 Net Declines 9.65% At Rs 640 crore

Hindalco’s Q4 Net Declines 9.65% At Rs 640 croreHindalco Industries has recorded a fall of 9.65% in its net profit, which remained at Rs 640 crore owing to lower tax provisioning during the last year.

Country's biggest aluminium manufacturer incurred tax expenses of Rs 139.45 crore in the fourth quarterly period of FY12 as compared to Rs 100.23 crore in the same period last year.

In spite of advanced realization, Hindalco's net sales augmented 10.5% to Rs 7,563 on elevated volumes.

NALCO sees aluminium at $2,500-$2,700 per tonne range

NALCO sees aluminium at $2,500-$2,700 per tonne rangeBhubaneswar, June 10 : Aluminium prices are likely to remain in a range of $2,500 to $2,700 a tonne for at least the next two-three months, India's state run National Aluminium Company Limited (NALCO) said Friday.

"We believe that in the short term in next two to three months the prices should remain range-bound between $2,500 and $2,700," B. L. Bagra, NALCO chairman-cum-managing director, told IANS.

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