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I have to caution that it is very hot. Power demand is going up. We are going into the monsoon period. So, we will have to wait and watch and see how the coal prices respond. Right now, there is sufficient availability of coal and as you said, the prices are also under control.
Aluminium price has spiked in recent week and has been volatile. It has swung $100 each way and is running at $2,550 a tonne
The metals market has seen a strong performance driven by positive PMI data from China and solid US economic fundamentals, leading to higher commodity prices, especially for base metals. Hindalco and Vedanta comparison can help identify better long-term investment opportunities.
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Hindalco is expected to raise up to USD5 billion from the sale of a part stake in Novelis. However, investors and analysts are puzzled as to how the proceeds of the sale will be utilised, especially since th reinvestment of funds in capex or acquisitions in the past has had a limited impact on stock performance.