December 20, 2014 5:05 PM ET

Metals and Mining

Company Overview of Bharat Aluminium Company Limited

Company Overview

Bharat Aluminium Company Limited engages in the mining, smelting, refining, and fabricating aluminum in India. The company produces primary products, such as ingots, wire rods, and billets. It also offers rolled products, including hot rolled coils, hot rolled plates, cold rolled coils and strips, cold rolled sheets, and chequered sheets. The company was incorporated in 1965 and is based in New Delhi, India. Bharat Aluminium Company Limited is a subsidiary of Sterlite Industries (India) Limited.

Aluminium Sadan Core-6

Scope Office Complex

7 Lodi Road

New Delhi,  110003

India

Founded in 1965

Phone:

91 11 2436 0091

Fax:

91 11 2432 0177

Key Executives for Bharat Aluminium Company Limited

Chief Executive Officer and Whole Time Director
Age: 44
Chief Financial Officer
Company Secretary
Senior Vice President of Legal
Compensation as of Fiscal Year 2014.

Bharat Aluminium Company Limited Key Developments

Finance Ministry May Postpone Sale Of Residual Stake In Hindustan Zinc And Bharat Aluminium

The finance ministry is likely to postpone its planned sale of residual stake in Hindustan Zinc Ltd. (BSE:500188) and Bharat Aluminium Company Limited to next financial year. Now, five months later, the advisors have asked for more time. “They need additional time. Even if they come back with a valuation, we have just three months left. It is unlikely we will be able to complete the stake-sale process for the two companies this financial year,” an official said.

Goverment To Sell Stake In SUUTI, Hindustan Zinc, Balco, Coal India, ONGC and NHPC Before March

The government is looking to sell its stake in Oil and Natural Gas Corp. Ltd. (BSE:500312), NHPC Ltd. (BSE:533098), Hindustan Zinc Ltd. (BSE:500188), Coal India Limited (BSE:533278), The Specified Undertaking of the Unit Trust of India and Bharat Aluminium Company Limited before March 2015. A senior government official familiar with the development said, "The government is trying to push through as many stake sales as possible in the next three months and it is hoping to meet a sizeable chunk if not the full target from disinvestment proceeds". He also said, "Ideally, we should not have back-to-back issues but that is what we will have to do over the next quarter to maximize gains from stake sales".

SAIL Stake Sale On December 5

Steel Authority of India Limited (BSE:500113) (SAIL) may be sold. The government of India is set to kick off its INR 580 billion disinvestment program for 2014 - 2015 on December 5, 2014, with dilution of a 5% stake in SAIL. The steel ministry said that it would sell around 206.5 million shares in the company through the offer-for-sale (OFS) route. The government notification added that the offer would open at 9:15 AM and close at 3:30 PM on December 5, 2014 and the ministry would declare the floor price on December 4, 2014. The department of disinvestment in the finance ministry is planning to sell its stake in PSUs in 2014 through the OFS route, which has at least a 105 quota for retail investors, and takes 15-30 days for regulatory clearances. At current market price, sale of a 5% stake in SAIL will fetch the government about INR 17.4 billion. Government plans to raise INR 369.25 billion by selling its stake in 10 public-sector undertakings, including Oil and Natural Gas Corp. Ltd. (BSE:500312) (ONGC), Coal India Limited (BSE:533278) and NHPC Ltd. (BSE:533098), and Power Finance Corporation Limited (BSE:532810) (PFC), Rural Electrification Corporation Limited (BSE:532955) (REC) and Container Corporation of India Ltd. (BSE:531344). Additionally, the government plans to raise about INR 65 billion from part-sale of stake it holds through The Specified Undertaking of the Unit Trust of India in AXIS Bank Limited (BSE:532215), Larsen & Toubro Limited (BSE:500510), and ITC Limited (BSE:500875); and INR 150 billion from sale of its residual stake in Hindustan Zinc Ltd. (BSE:500188) and Bharat Aluminium Company Limited (Balco). Apart from SAIL, finance ministry officials are confident that Coal India, ONGC, and NHPC will hit the market by the end of January 2015. At current prices, the combined proceeds from these four public-sector behemoths will be around INR 429.11 billion. So far, however, there is less clarity on stake sales in the smaller companies, some of which might be shelved. The combined proceeds from sale of 5% each in Concor, PFC, REC and MOIL Limited (BSE:533286) could be about INR 52.1 billion at current rates, while the government expects about INR 55 billion from sale of 10% each in Hindustan Aeronautics Limited and Rashtriya Ispat Nigam Ltd.

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