Hindalco Share Price Rallies on ₹21,000-Crore Odisha Expansion, Bets Big on Battery Metals

Hindalco Industries share price (NSE: HINDALCO), the Aditya Birla Group’s metals arm, gained more than 3% in intraday trade on January 29, 2026, after the company shared details of a major expansion of its aluminium operations in Odisha. The stock touched an intraday high of ₹1,029.80 on the NSE before trimming some gains.

By early afternoon, Hindalco was trading around ₹1,023, still up over 2.5%, even as the broader market remained weak.

₹21,000 Crore Smelter Expansion In Odisha

The rally came after Hindalco announced a ₹21,000-crore expansion of its aluminium smelter at the Aditya Aluminium complex in Sambalpur, Odisha. The project will add 3.6 lakh tonnes per annum of smelting capacity.

Alongside this, the company has also commissioned a 1.7 lakh tonnes per annum flat rolled products (FRP) and battery-grade aluminium foil facility, built with an investment of ₹4,500 crore.

Boost To EVs And Energy Storage

According to the company, the new facilities will help localise key raw materials needed for lithium-ion batteries in India. The battery-grade aluminium foil plant, the first of its kind in the country, is designed to support up to 100 GWh of lithium-ion cell manufacturing capacity.

This move is expected to strengthen India’s electric mobility, renewable energy, and energy storage ecosystem.

Big Capex Plans For Odisha

Hindalco said these projects are part of its wider growth capex programme, with about ₹37,000 crore planned for Odisha across upstream and downstream aluminium operations. Overall, the company has outlined ₹55,000 crore of capital expenditure across India.

As of January 29, Hindalco’s market capitalisation stood near ₹2.3 lakh crore.

Also Read: TCS Announces USD 37 Million Investment to Build Largest Delivery Centre in Brazil!

Management Commentary

Aditya Birla Group Chairman Kumar Mangalam Birla said the investments aim to build a fully integrated aluminium ecosystem, from raw materials to high-value products, while supporting India’s push for self-reliance and sustainable manufacturing.

Conclusion

Hindalco’s sharp stock move reflects investor confidence in its long-term growth strategy. With large investments in aluminium, EV-linked materials, and value-added products, the company is positioning itself as a key player in India’s clean energy and manufacturing transition.

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