Hindalco Industries is making progress in its expansion plans in Bay Minette. They have recently started production at the Guthrie facility, which has a capacity of 250k tonnes and began operations in the second quarter.

The company is also investing in domestic capital expenditures in three key areas: alumina, upstream aluminium, and copper. These investments are expected to be commissioned between FY27 and FY29. Anand Rathi has revised its earnings estimates for FY25, increasing them, while maintaining projections for FY26. This is due to Hindalco's strong aluminium EBITDA per tonne, record copper EBITDA, and improved metal prices.

The outlook for the company remains positive, driven by its focus on capacity expansion both domestically and internationally, an increase in beverage can shipments, and the integration of raw materials. In addition, coal blocks are expected to start production from CY25 onwards, and there is a growing share of value-added products. Anand Rathi has a Buy rating for Hindalco Industries with a target price of Rs 800 per share.