HINDALCO

** Shares of aluminium and copper producer Hindalco Industries HALC.NS rise 5% to 700.20 rupees

** Brokerage Jefferies says higher aluminium prices to support India aluminium margins for HALC, but Novelis margins to remain under pressure amid weak auto demand and US tariffs

** CLSA says medium-term outlook is robust with high captive coal sourcing, downstream volume, alumina sales and expansion of copper recycling projects

** Adds, Q2 profitability is likely to be impacted by a rise in costs but should be partly offset by higher metal prices

** HALC posted a 30.3% Y/Y rise in consol net profit at 40.04 bln rupees ($457 mln) for Q1

** HALC up ~16% YTD

($1 = 87.6187 Indian rupees)

(Reporting by Vijay Malkar)

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** Analysts expect India's Hindalco Industries HALC.NS to report 24.7% Y/Y rise in Q1 consol net profit and 4.7% Y/Y increase in revenue - data compiled by LSEG

** Stock drops as much as 2.3% before trading nearly flat at 674.55 rupees

** Jefferies expects margins contraction for HALC on weak aluminium prices and because of U.S. tariff impact

** HALC's U.S. unit Novelis, which makes up 62% of hindalco's total revenue, reports lower Q1 net profit on higher scrap metal prices and tariffs

** Novelis headwinds to weigh on HALC's Q1 results, say Elara Securities analysts

** Avg rating of 27 analysts on HALC at "buy"; median PT is 738 rupees - data compiled by LSEG

** YTD, HALC gains 11% vs metals index's .NIFTYMET 4.2% climb

(Reporting by Kashish Tandon in Bengaluru)

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Aug 12 (Reuters) - Novelis Corp [RIC:RIC:NVLXC.UL]:

• NOVELIS ANNOUNCES PRICING OF OFFERING OF SENIOR NOTES DUE AUGUST 2033

• NOVELIS CORP - PRICED AN OFFERING OF $750 MILLION AGGREGATE PRINCIPAL AMOUNT OF 6.375% SENIOR NOTES DUE IN AUGUST 2033

Source text: ID:nPnB7bCza

Further company coverage: NVLXC.UL

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July 9 (Reuters) - India will discuss the impact of U.S. tariff on copper, mines minister Kishan Reddy said at an event in New Delhi on Wednesday.

(Reporting by Neha Arora in New Delhi; Editing by Sumana Nandy)

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** Indian copper and aluminum producer Hindalco HALC.NS up 7.4% this week, its biggest weekly gain since early March

** Earlier this week, co said it will acquire U.S.-based specialty alumina firm AluChem Companies, for an enterprise value of $125 million

** Co's specialty alumina business delivered consistent double-digit growth in recent years and has emerged as high-growth, high-margin business for co- HALC

** Stock rated "buy" on avg, median PT at 746 rupees - LSEG data

** HALC up 0.8% on the day; it has gained ~15% so far this year

(Reporting by Manvi Pant in Bengaluru)

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June 24 (Reuters) - Hindalco Industries Ltd HALC.NS:

• HINDALCO INDUSTRIES LTD - TO BUY 100% STAKE IN ALUCHEM COMPANIES

• HINDALCO INDUSTRIES LTD - DEAL ENTERPRISE VALUE IS $125 MILLION

Further company coverage: HALC.NS

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** Aluminum and copper miner Hindalco HALC.NS reported fourth-quarter profit ahead of analysts' estimates on Tuesday on higher commodity prices, which led to its upstream unit posting record core profit

** Prices of commodities "slightly on the lower side currently" due to global uncertainties, CEO Satish Pai said in a post-earnings call

** Stock oscillating between gains and losses on the day, last up 0.3%

PROFITABILITY TO LIKELY TAKE A HIT IN Q1FY26

** J.P. Morgan ("overweight", hikes TP to 720 rupees from 680 rupees) says aluminum upstream core profit to drop sequentially in Q1FY26 as pricing tailwinds temper

** Nuvama ("buy", PT at 776 rupees) says Novelis earnings will likely be affected by U.S. tariffs uncertainty

** Ambit ("sell", raises TP to 660 rupees from 650 rupees) says scarp prices - a raw material for Novelis unit - will remain a headwind for co's recycling margins

** Adds U.S.-based Novelis to bear tariff costs due to can sheet imports from South Korea, Brazil and due to higher products prices in the country

(Reporting by Manvi Pant in Bengaluru)

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May 20 (Reuters) - Hindalco Industries HALC.NS, one of India's largest copper and aluminium producers, reported fourth-quarter profit above analysts' estimates on Tuesday, driven by a surge in commodity prices.

Its consolidated net profit rose to 52.83 billion rupees ($618.05 million) for the quarter ended March 31. Analysts had expected, on average, 44.97 billion rupees, as per data compiled by LSEG.

($1 = 85.4790 Indian rupees)

(Reporting by Manvi Pant in Bengaluru; Editing by Janane Venkatraman)

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By Neha Arora

NEW DELHI, May 13 (Reuters) - The Indian government is expected to argue that there is sufficient domestic supply of copper cathodes, and an adequate number of suppliers, as it prepares a response to a case on import curbs filed by two trade associations, two sources said.

India, the world's second-largest importer of refined copper, relies on imports to address shortfalls and meet robust demand in sectors such as energy, defence, automotives and infrastructure. Copper is among the 30 critical minerals identified by India in 2023.

But the government imposed quality control measures on copper cathode imports in December, requiring all suppliers, foreign and domestic, to obtain certification from Indian authorities.

The Bombay Metal Exchange and the Bombay Non-Ferrous Metals Association have submitted a petition, seen by Reuters, to the Bombay High Court claiming that the government action could lead to a monopoly dominated by three domestic suppliers, without naming them.

"Where are the shortages?" one of the sources, familiar with government thinking, told Reuters. "The only evidence they (trade bodies) have is that in December and January imports had reduced, which is old data."

The source said that companies had imported large quantities of copper in October and November, which then led to lower imports in the following months.

"We will fight the case, their case does not hold," the source said, declining to be identified as the government has not filed a formal response yet. Another source confirmed the government would defend its position.

The trade associations and India's mines ministry did not immediately respond to requests for comment.

DEMAND SURGE

Copper demand is expected to double by 2030 as India aims to meet the needs of its industries and the energy transition. Domestic companies in the copper industry include Hindalco Industries HALC.NS, Vedanta, Adani ADEL.NS, and the state-owned Hindustan Copper HCPR.NS.

India's refined copper production is estimated at around 555,000 tons per year, and New Delhi imports around 500,000 tons of copper a year to meet the shortfall. Imports have surged since the 2018 closure of Vedanta's domestic Sterlite Copper smelter

But in December, the government said that the ramp-up of Adani Enterprises' smelter would fulfil India's domestic requirement and cut down imports. It is expected to become operational over the next four weeks.

Japan accounts for about two-thirds of India's refined copper imports, followed by Tanzania and Mozambique.

There are currently 10 certified foreign copper suppliers, both sources said, seven of which are Japanese, and five more domestic certified suppliers.

(Reporting by Neha Arora; Editing by Rachna Uppal)

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April 25 (Reuters) - Hindalco Industries Ltd HALC.NS:

• DELIVERS 10,000 ALUMINIUM BATTERY ENCLOSURES TO MAHINDRA FROM FACILITY IN CHAKAN

Source text: [ID:]

Further company coverage: HALC.NS

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By Neha Arora

NEW DELHI, April 4 (Reuters) - Indian officials will visit Chile next week to discuss plans for four state companies to take a stake in two lithium projects of the world's No. 2 producer of the metal, SQM SQMA.SN, a source said.

The world's fastest-growing major economy has ramped up efforts to secure a steady supply of lithium as demand rises for the metal used in electric vehicle batteries, key to emissions reduction efforts in the world's third-largest emitter.

Government-backed Khanij Bidesh India Ltd (KABIL), Coal India COAL.NS, Oil India OILI.NS, and ONGC Videsh ONVI.NS are in talks with SQM for stakes of 20% in its Mount Holland and Andover projects in Australia, Reuters reported last week.

The Indian delegation will hold discussions with top SQM executives when it travels to Chile next week for a global copper conference, the source said, speaking on condition of anonymity as the talks were not public.

Executives from state-run Hindustan Copper HCPR.NS and leading private copper firms Hindalco Industries HALC.NS and JSW are also expected to visit Chile, the source said.

Hindustan Copper told Reuters it will send a few executives to Chile to attend the copper conference and hold other meetings.

The mines ministry, Hindalco, and JSW did not respond to emails from Reuters to seek comments.

India and Chile held talks this week to renew a preliminary pact on geology and mineral resources.

This week Chile's state-owned Codelco, the world's largest copper producer, said it would supply copper concentrates to the $1.2-billion smelter of India's Adani Group, which is the world's largest single-location plant of its kind.

Codelco has also signed a separate preliminary pact with Hindustan Copper to collaborate on exploring and processing minerals.

India's copper imports have surged since the 2018 closure of Vedanta's VDAN.NS Sterlite Copper smelter, which produced around 400,000 metric tons of the metal.

It has recently stepped efforts to strike overseas deals for access to critical minerals in resource-rich countries such as Argentina, Australia, and Chile.

New Delhi is also exploring an initial agreement with cobalt-rich Congo.

(Reporting by Neha Arora; Editing by Mayank Bhardwaj; Editing by Clarence Fernandez)

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April 2 (Reuters) - Chile's state-owned Codelco, the world's largest copper producer, said on Wednesday it would supply copper concentrates to India's Adani Group's $1.2 billion smelter, the world's biggest single-location plant of its type.

The supply will begin this year, said Codelco, whose chairman, Maximo Pacheco, met Adani Group chairman Gautam Adani at the conglomerate's headquarters in Ahmedabad in the western state of Gujarat.

Kutch Copper, as the smelter is formally known, is also located in Gujarat and its executives had told Reuters it would source concentrates from Chile and other countries.

The smelter began operations a year ago and last month entered into a joint venture to make wires and cables.

India's copper imports have surged since the 2018 closure of Vedanta's VDAN.NS Sterlite Copper smelter, which produced about 400,000 metric tons of the metal.

Currently, only Hindalco Industries HALC.NS, part of India's Aditya Birla group, and state-run miner Hindustan Copper HCPR.NS produce copper in the country.

Codelco also separately signed a preliminary agreement with Hindustan Copper to cooperate on exploring and processing minerals.

(Reporting by Nandan Mandayam in Bengaluru; Editing by Savio D'Souza)

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March 20 (Reuters) - Hindalco Industries HALC.NS, one of India's largest aluminium and copper producers, said on Thursday it plans to invest 450 billion rupees ($5.21 billion) across its aluminium, copper, and specialty alumina businesses.

($1 = 86.3350 Indian rupees)

(Reporting by Sethuraman NR; Editing by Savio D'Souza)

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** Shares of Hindalco Industries HALC.NS rise about 3% to 700 rupees

** HALC is among the top gainers in the metal index .NIFTYMET, which is up 2%

** Metal index leading sectoral gains on top metals consumer China's stimulus plan and a weaker U.S. dollar

** Indian government imposes anti-dumping duty on aluminium foil imports from China up to 80 micron of width

** Directorate General of Trade Remedies (DGTR) last month recommended anti-dumping duty on select aluminium foil imports to prevent injury to domestic industry

** HALC is India's largest aluminium producer

** HALC shares up 16% in 2025 so far, outperforming the 4% rise in metal index and 4% drop in Nifty 50 .NSEI, according to exchange data

(Reporting by Bharath Rajeswaran in Bengaluru)

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Feb 20 (Reuters) - Larsen and Toubro Ltd LART.NS:

• LARSEN AND TOUBRO: L&T MINERALS & METALS BUSINESS SECURES LARGE ORDERS IN STEEL AND ALUMINA SECTORS

• LARSEN & TOUBRO GOT ORDER WORTH BETWEEN 25 - 50 BILLION RUPEES

• LARSEN AND TOUBRO LTD - ORDER FROM HINDALCO TO SET UP 850 KTPA ALUMINA REFINERY

Source text: ID:nBSE9skjdx

Further company coverage: LART.NS

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** Shares of Hindalco HALC.NS climb as much as 2.2% to 616.10 rupees; last up 0.5%

** Stock set for third straight session of gains

** Aditya Birla Group-owned firm's consol net profit, rev beat analysts' estimates

** Analysts' average rating on HALC at "buy"; median PT is 743 rupees - LSEG data

** Stock up 0.6% so far this year vs 3.4% decline in Nifty metals index .NIFTYMET

(Reporting by Kashish Tandon in Bengaluru)

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Feb 13 (Reuters) - Hindalco Industries Ltd HALC.NS:

• HINDALCO INDUSTRIES Q3 CONSOL NET PROFIT 37.35 BILLION RUPEES; IBES PROFIT EST. 35.73 BILLION RUPEES

• HINDALCO INDUSTRIES Q3 CONSOL REV FROM OPS 583.90 BLN RUPEES; IBES EST. 575.17 BLN RUPEES

  
  

Source text: [ID:]

Further company coverage: HALC.NS

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By Neha Arora

NEW DELHI, Feb 10 (Reuters) - India's aluminium shipments to the U.S., its top export market for the metal, will likely drop due to tariffs proposed by Washington, prompting producers to look at other markets such as Europe, industry executives and a government source said on Monday.

U.S. President Donald Trump said on Sunday he would introduce new 25% tariffs on all steel and aluminium imports into the United States in another major escalation of his trade policy overhaul. He also said he would announce reciprocal tariffs on Tuesday or Wednesday.

Those measures would drag down India's aluminium exports to the United States, affecting the profitability of Indian producers, the executives and the source said.

Although Indian aluminium producers, which include Vedanta Aluminium and Hindalco Industries HALC.NS, could look to other markets in Europe and Southeast Asia, these would take time to absorb the additional supplies, they said.

"India is one of the major exporters to the U.S. and the tariffs will have a significant impact," B.K. Bhatia, additional secretary general at the Federation of Indian Mineral Industries, the country's leading mining body, told Reuters.

"Some bilateral arrangement has to be made for concessional tariffs to ease the situation," Bhatia said.

Indian Prime Minister Narendra Modi is scheduled to meet Trump this week, and is likely to propose additional tariff cuts that could boost American exports to India and avoid a potential trade war between the two countries.

India, the world's second biggest primary aluminium producer, exported 0.2 million metric tons of aluminium to the U.S., worth 78.3 billion rupees ($894.4 million), in the year to March 2024, government data showed.

Unlike aluminium companies, India's steel producers are not expected to face significant setbacks as their supplies to the U.S. are smaller.

India could see an increase in steel shipments as other countries may divert cargoes to New Delhi due to the proposed U.S. tariffs on the alloy, they said.

The country became a net importer of steel in the 2023-24 fiscal year, and imports have steadily increased in recent months.

(Reporting by Neha Arora; Editing by Mayank Bhardwaj and Jan Harvey)

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Adds executive comments, background in paragraphs 3 to 5

Jan 27 (Reuters) - India's steel-to-power conglomerate JSW Group will invest 26 billion rupees ($301.2 million) to set up operations at two copper mines, the company said on Monday, foraying into mining non-ferrous metals as steel prices fall.

The billionaire Sajjan Jindal-led group has won two blocks of copper mines in the eastern mineral-rich state of Jharkhand from Hindustan Copper HCPR.NS for a period of 20 years, with the option to extend it for another decade.

"Venturing into non-ferrous metals, particularly copper, is a strategic move," said Parth Jindal, the managing director of JSW Paints and the IPO-bound JSW Cement.

Steel production in India has been hit by low prices, weak demand from top consumer China and cheap Chinese steel flooding domestic markets -- the effect of which has led to the group's flagship firm JSW Steel JSTL.NS missing profit estimates for the past four quarters in a row.

With the expansion, JSW Steel will directly compete with Vedanta VDAN.NS, Hindalco HALC.NS, Hindustan Copper and Adani Copper - all of which currently dig up the brown metal used to make cables and wires.

Once ramped up, the mines will have a copper ore capacity of 3 million tonnes per annum (MTPA) and are expected to be part-operational in the second half of the fiscal year 2027, the group said in a statement.

($1 = 86.3290 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala and Savio D'Souza)

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By Neha Arora

NEW DELHI, Jan 9 (Reuters) - India is expected to sign a preliminary agreement with Mongolia soon in the area of geology and exploration, a senior Indian government official with direct knowledge of the matter said.

Landlocked Mongolia is rich in deposits of copper and coking coal, and India is mostly dependent on imports to meet rising demand for the red metal used in power, construction and electrical vehicles as well as coking coal for steelmaking.

"India's cabinet has approved the MoU (memorandum of understanding) and both countries are expected to sign it soon," the source said, declining to be identified as the deliberations are not yet public.

India's federal mines ministry did not respond to a Reuters email seeking comment.

Mongolia's Ministry of Mining and Heavy Industry did not immediately respond to a Reuters email seeking comments.

Companies such as Adani, Hindalco and Vedanta have expressed an interest in sourcing copper from Mongolia, the source said. All three companies did not respond to emails from Reuters seeking comment.

Both Indian and Mongolian officials are working out supply routes for Indian companies to source copper and coking coal, with India preferring the route from Vladivostok in Russia despite the longer distance, the official said.

"China is convenient but we prefer the route from Russia," the official said.

Relations between Asian giants India and China were strained after a deadly military clash on their disputed border in 2020 but have been on the mend since they reached an agreement in October to pull back troops from their last two stand-off points in the western Himalaya mountains.

Unlike China, India has traditionally maintained close ties with Russia.

Resource-rich Mongolia can offer superior grades of coking coal, industry officials say.

In November, India's JSW Steel JSTL.NS and state-run Steel Authority of India (SAIL) SAIL.NS were in talks with Mongolian authorities to import two shipments of coking coal, Reuters reported.

(Reporting by Neha Arora; Editing by Christian Schmollinger)

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** Shares of Hindalco Industries HALC.NS down 2% so far this year, on track for worst year since 2019

** Shares of the aluminium and copper producer fell most on Feb. 13, dropping 12.4%, after it missed Q3 profit estimates and analysts flagged capex concerns for its U.S. unit, Novelis

** Stock set to fall for third straight month

** HALC trading below its 50-day, 100-day, 200-day SMAs, indicating bearish sentiment

** Avg rating of 26 analysts covering the stock is "buy"; median PT 760 rupees, ~27% higher than current price - LSEG data

** India's benchmark Nifty 50 index .NSEI up over 8% YTD

(Reporting by Anuran Sadhu in Bengaluru)

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Dec 27 (Reuters) - Hindalco Industries Ltd HALC.NS:

• FINED UNDER GST REGULATIONS

• TOTAL FINES AND PENALTY LEVIED OF 301.1 MILLION RUPEES

Source text: ID:nBSE3hkTmV

Further company coverage: HALC.NS

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Dec 26 (Reuters) - Hindalco Industries Ltd HALC.NS:

• HINDALCO INDUSTRIES LTD - FINED UNDER GST REGULATIONS

• HINDALCO INDUSTRIES LTD - TOTAL TAXES AND PENALTY LEVIED AT 526.7 MILLION RUPEES

• HINDALCO INDUSTRIES LTD - TO FILE APPEAL AGAINST GST DEMAND

Source text: ID:nBSE2gKSKf

Further company coverage: HALC.NS

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Dec 2 (Reuters) - Hindalco Industries Ltd HALC.NS:

• HINDALCO INDUSTRIES LTD - FINED UNDER GST REGULATIONS

• HINDALCO INDUSTRIES LTD - TOTAL FINES AND PENALTY LEVIED: 179.9 MILLION RUPEES

• HINDALCO INDUSTRIES LTD - MANAGEMENT EXPECTS NO MATERIAL IMPACT ON FINANCIALS OR OPERATIONS

Source text: ID:nBSEc6b8zs

Further company coverage: HALC.NS

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Corrects paragraph 1 to say only the Nifty 50 had fallen for three straight sessions, not the Nifty and Sensex

By Hritam Mukherjee

Nov 12 (Reuters) - Indian shares opened higher on Tuesday, after the Nifty 50 had fallen for three straight sessions, led by gains in metal producer Hindalco HALC.NS after it beat quarterly profit estimates, with investors also awaiting inflation data due later in the day.

The NSE Nifty 50 .NSEI was 0.3% higher at 24,207 points as of 9:16 a.m. IST, while the BSE Sensex .BSESN had gained 0.3% to 79,700.

Twelve of the 13 major sectors advanced. The broader, more domestically focussed small- .NIFSMCP100 and mid-caps .NIFMDCP100 rose 0.2% and 0.4%, respectively.

"Traders are buying the dip caused by the last three sessions. Valuations have comparatively cooled down and the negative triggers that were being brought by September-quarter earnings are also largely behind," said Aishvarya Dadheech, founder and chief executive of Fident Asset Management.

The Nifty has shed about 8% from its record high on Sept. 27, hurt by lacklustre corporate earnings and as foreign investors pulled out nearly $14 billion from domestic stocks.

On the day, aluminium producer Hindalco jumped 2%, among the most on the Nifty, after it beat second-quarter profit estimates due to higher prices.

On the flip side, Britannia BRIT.NS fell 2.5% after the biscuit maker missed second-quarter profit estimates on slowing urban demand.

India's inflation data for October, due after markets close, is expected to show an increase to a 14-month high of 5.81%, as per a Reuters poll.

(Reporting by Hritam Mukherjee in Bengaluru; Editing by Rashmi Aich and Savio D'Souza)

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Nov 11 (Reuters) - Hindalco Industries Ltd HALC.NS:

• NOVELIS' BAY MINETTE PROJECT REMAINS ON TRACK; EXPECTED TO BE COMPLETED BY H2 OF CY26

Source text: ID:nNSE347lyS

Further company coverage: HALC.NS

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** Indian benchmarks NSE Nifty 50 .NSEI and BSE Sensex .BSESN shed ~1% each

** Aluminium maker Hindalco HALC.NS drops 8% after Q2 profit fall at U.S. unit Novelis NVL.N

** Apparel retailer Trent TREN.NS falls 6.5% after reporting slowest revenue growth in 3 years

** HALC, TREN top two pct decliners out of the 45 NSEI members trading lower on the day

** Meanwhile Apollo Hospitals APLH.NS jump ~7% after Q2 profit beat, top pct gainer on NSEI

** Eleven out of the thirteen major subsectors retreat on the day

** Focus on U.S. Federal Reserve's rate decision, commentary due after Indian market close

** Fed expected to cut rates by 25 basis points

(Reporting by Hritam Mukherjee in Bengaluru)

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** India's NSE Nifty 50 .NSEI inches down 0.12%, BSE Sensex .BSESN down 0.02%

** Consumer major Hindustan Unilever (HUL) HLL.NS slumps 7%, top pct loser on Nifty after profit miss and as analysts flag more demand concerns

** HUL drags consumer stocks .NIFTYFMCG 2.7% lower

** Aluminium maker Hindalco HALC.NS falls 5% after Paris-based Constellium 30K.F warned of weak demand, which could spillover to its peer Novelis NVL.N, HALC's U.S. unit

** Novelis accounts for 60% of HALC's revenue

** SBI Life Insurance SBIL.NS drops 4.5%, eyeing worst day this yr, after lower Q2 premium growth

** Small-caps .NIFSMCP100 muted; mid-caps .NIFMDCP100 fall 0.2%

** Investor sentiment gloomy on tepid earnings, sustained foreign selling, analysts say

** Foreign investors were net sellers for eighteenth straight session on Wednesday

(Reporting by Hritam Mukherjee in Bengaluru)

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Sept 18 (Reuters) - Hindalco Industries Ltd HALC.NS:

• HINDALCO : NO DEVELOPMENTS ON SOLAR MODULE MANUFACTURING

Source text for Eikon: [ID:]

Further company coverage: HALC.NS

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By Sethuraman N R and Neha Arora

GUJARAT/NEW DELHI, Sept 17 (Reuters) - India's Hindalco Industries HALC.NS plans to start solar modules manufacturing and set up a plant in the western state of Gujarat, two people familiar with the matter told Reuters on Tuesday.

The company, owned by cement to fashion retail conglomerate Aditya Birla Group, is evaluating a five-year plan in the competitive sector, one of the sources said.

Hindalco has identified land in port town Mundra in Gujarat, the second person said.

India's No.2 aluminium maker, Hindalco Industries, is yet to get board approval and finalise its capital expenditure plans, both sources said.

The people declined to be named as they were not authorised to speak to the media.

The solar module manufacturing will be a good fit given Hindalco's dominance in aluminium manufacturing, one of the sources said.

Hindalco did not immediately respond to a Reuters request for comments.

If implemented, this would be the company's first foray in manufacturing green energy components. In 2022, the company had signed a collaboration with Greenko Group to produce solar and wind capacity for its smelter.

Some of India's top energy companies are already involved in solar module manufacturing.

Oil-to-chemicals conglomerate Reliance Industries RELI.NS has plans to start making solar modules later this year at its giga factory in Jamnagar, Gujarat, while Tata Power TTPW.NS is already producing solar modules and cells at its plants.

India is expanding its renewable energy capacity and aims to add at least 500 gigawatts of clean energy by 2030.

(Reporting by Sethuraman NR in Gujarat and Neha Arora in New Delhi
Editing by Tomasz Janowski
)

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