Hindalco Industries has made its entry in the 2019 edition of the S&P Dow Jones Sustainabllity Indices (DJSI). Hindalco has been recognised for its success in governance, socialand environmental initiatives and is the only aluminium manufacturer from India to beincluded in the list this year.

The DJSI, one of the most prestigious benchmarks for corporate sustainability, is the globalstandard for measuring and advancing corporate Environmental, Social, and Governance(ESG) practices. Hindalco, a new inclusion this year, is one of 98 companies in the EmergingMarkets Index. It is one of 12 companies from India to make the list and the only aluminiummanufacturer to be included. Its DJSI score places Hindalco among the world's top threealuminium companies.

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Hindalco Industries Ltd gained for a fifth straight session today. The stock is quoting at Rs 191.9, up 1.4% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.27% on the day, quoting at 11033.25. The Sensex is at 37320.22, up 0.47%. Hindalco Industries Ltd has gained around 8.88% in last one month.

Meanwhile, Nifty Metal index of which Hindalco Industries Ltd is a constituent, has gained around 2.12% in last one month and is currently quoting at 2360.05, up 1.94% on the day. The volume in the stock stood at 33.56 lakh shares today, compared to the daily average of 64.85 lakh shares in last one month.

The benchmark September futures contract for the stock is quoting at Rs 192.5, up 1.66% on the day. Hindalco Industries Ltd is down 19.34% in last one year as compared to a 2.96% slide in NIFTY and a 33.75% slide in the Nifty Metal index.

The PE of the stock is 51.29 based on TTM earnings ending June 19.

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Novelis reaffirmed its full commitment to closing its proposed acquisition of Aleris Corporation, notwithstanding the U.S. Department of Justice (DOJ) lawsuit to block the transaction. Novelis intends to vigorously defend against the DOJ's challenge, which it believes is without merit.

The company is confident that the transaction will ultimately receive all necessary regulatory approvals in the U.S. and in other relevant jurisdictions.

The DOJ lawsuit is based on the contention that the only relevant competition among automotive body sheet providers is that among aluminum manufacturers such as Novelis and Aleris. It ignores competition from steel automotive body sheet, even though steel automotive body sheet is currently used for nearly 90% of the market.

The DOJ also disregards the extraordinary bargaining power of the automotive manufacturers and their ability to generate bid processes that will ensure competitive pricing for automotive body sheet.

Hindalco Industries owned Novelis was reportedly set to secure European Union (EU) antitrust approval for its bid for Aleris last week. Novelis had agreed to sell Aleris' Belgian plant to address European Commission worries that the deal may reduce competition and lead to higher prices, hitting carmakers in particular. The Commission is scheduled to decide on the case by 7 October 2019.

Novelis had announced in July 2018 that it has signed a definitive agreement to acquire Aleris Corporation, a global supplier of rolled aluminium products, for approximately $2.6 billion including the assumption of debt.

Meanwhile, the S&P BSE Sensex was down 142 points or 0.39% to 36,582.29.

On the BSE, 2.08 lakh shares were traded in the Hindalco Industries counter so far compared with average daily volumes of 46 lakh shares in the past one quarter. The stock hit a high of Rs 188.45 and a low of Rs 181.95 so far during the day.

The stock hit a 52-week high of Rs 259.7 on 04 Oct 2018. The stock hit a 52-week low of Rs 171.25 on 26 Aug 2019.

On a consolidated basis, Hindalco's net profit fell 26.91% to Rs 1,077.83 crore on a 3.56% decline in the net sales to Rs 29,972.13 crore in Q1 June 2019 over Q1 June 2018.

Hindalco Industries, an Indian aluminium and copper manufacturing company, is a subsidiary of the Aditya Birla Group. It is the flagship company of the company in the metals business.

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Novelis Inc. on 04 September 2019 has reaffirmed its full commitment to closing its proposed acquisition of Aleris Corporation, notwithstanding the U.S. Department of Justice (DOJ) lawsuit to block the transaction.

Novelis intends to vigorously defend against the DOJ's challenge, which it believes is without merit.

Due to the agreement reached with the DOJ on a timetable and process for resolvingthis dispute, Novelis is confident that the DOJ suit is not an impediment to closing thetransaction by the January 21, 2020, outside date under the merger agreement, even ifa remedy is required to address the DOJ's competitive concerns.

The company is confident that the transaction will ultimately receive all necessaryregulatory approvals in the U.S. and in other relevant jurisdictions.

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