The promoters' current stake is 36 per cent, compared to 32.08% at the end of June.

This is seen as part of the group's plan to increase its holding across its companies.

The company has a capital expenditure plan of INR400bn ($8.5bn) for the next five years, of which it is spending INR100bn ($2.14bn) in the current financial year.

While it is not planning to buy more processing units for now, Hindalco is on a lookout for more copper mines.

The company believes metal consumption demand was likely to go up. On the outlook for the aluminium sector, demand for lightweight cars was risingp due to stricter emission norms, which provided a good opportunity for consumption of aluminium.

The assets of the closed Rogerstone plant in the UK were being moved to Hirakud in Orissa, near Hindalco's smelter. This will act as a hub for can body stock.