Global Materials | Industrials | Commodities

Rahul Jain

Thematic (Sector/Industry)

<ul>
<li>Rio’s Entry: Rio Tinto plans a $5–7B green aluminium project in India with AMG M&amp;M, targeting 1 Mtpa smelting and 2 Mtpa refining powered by renewables.</li>
<li>Why India: Aluminium demand is rising; India offers bauxite, coal, caustic, and strong domestic growth—ideal for scaling low-carbon aluminium production.</li>
<li>Risks &amp; Signals: Land issues remain a risk, but ArcelorMittal’s success shows improved project viability; Rio bets on aluminium’s green future and circular economy edge.</li>
</ul>


Rio’s Entry: Rio Tinto plans a $5–7B green aluminium project in India with AMG M&amp;M, targeting 1 Mtpa smelting and 2 Mtpa refining powered by renewables.
Why India: Aluminium demand is rising; India offers bauxite, coal, caustic, and strong domestic growth—ideal for scaling low-carbon aluminium production.
Risks &amp; Signals: Land issues remain a risk, but ArcelorMittal’s success shows improved project viability; Rio bets on aluminium’s green future and circular economy edge.


Rio Tinto’s Green Aluminium Bet on India: A Strategic Pivot Amid Global Decarbonization

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Event-Driven

<ul>
<li>The start of 2025 has been particularly turbulent for Indian equities as broader market sentiment soured due to elevated valuations, foreign institutional investor (FII) outflows, and global macro uncertainty. </li>
<li>However, amid this volatility, one signal stood out: insider trading activity.</li>
<li>In this report, we deep-dive into insider buying and selling trends from January 1 to March 3, 2025, to uncover where company promoters and top executives are placing their bets</li>
</ul>


The start of 2025 has been particularly turbulent for Indian equities as broader market sentiment soured due to elevated valuations, foreign institutional investor (FII) outflows, and global macro uncertainty. 
However, amid this volatility, one signal stood out: insider trading activity.
In this report, we deep-dive into insider buying and selling trends from January 1 to March 3, 2025, to uncover where company promoters and top executives are placing their bets


Insiders' Playbook: Who’s Buying and Selling Amid Market Turbulence?

India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

<ul>
<li>Two senior executives at <a href="https://www.smartkarma.com/entities/hero-motocorp-ltd" target="_blank" data-smartkarma-citation="entities:2391:1" rel="noopener">Hero Motocorp (HMCL IN)</a> , Reema Jain and Sameer Pande, resigned amid market challenges and leadership changes</li>
<li>
<a href="https://www.smartkarma.com/entities/allianz-se-0516b9dc-34b1-4a5b-adff-c1c95188b4ff" target="_blank" data-smartkarma-citation="entities:28601:1" rel="noopener">Allianz (AZSEY US)</a> plans a new insurance partnership with Jio Financial, following the end of its 24-year tie-up with Bajaj Group.</li>
<li>
<a href="https://www.smartkarma.com/entities/bain-capital-specialty-finan" target="_blank" data-smartkarma-citation="entities:28761:1" rel="noopener">Bain Capital Specialty Finan (BCSF US)</a> set to acquire 22% stake in <a href="https://www.smartkarma.com/entities/manappuram-finance-ltd" target="_blank" data-smartkarma-citation="entities:12559:1" rel="noopener">Manappuram Finance (MGFL IN)</a> , with plans to increase stake to 42%.</li>
</ul>


Two senior executives at Hero Motocorp (HMCL IN) , Reema Jain and Sameer Pande, resigned amid market challenges and leadership changes

Allianz (AZSEY US) plans a new insurance partnership with Jio Financial, following the end of its 24-year tie-up with Bajaj Group.

Bain Capital Specialty Finan (BCSF US) set to acquire 22% stake in Manappuram Finance (MGFL IN) , with plans to increase stake to 42%.


#123 India Insight: Hero MotoCorp Execs Resign, Allianz Partners Jio, Bain to Buy Manappuram Stake

<ul>
<li>Haldiram sells 10% to Temasek at $10B valuation, plans additional 5% pre-IPO stake sale amid mixed investor interest.</li>
<li>SBI will launch a dedicated project finance unit to back AI, fintech, and renewable energy, targeting India’s fast-evolving industries.</li>
<li>India must install 600 GW of non-fossil capacity by 2030 to manage rising power demand and reduce dependence on coal.</li>
</ul>


Haldiram sells 10% to Temasek at $10B valuation, plans additional 5% pre-IPO stake sale amid mixed investor interest.
SBI will launch a dedicated project finance unit to back AI, fintech, and renewable energy, targeting India’s fast-evolving industries.
India must install 600 GW of non-fossil capacity by 2030 to manage rising power demand and reduce dependence on coal.


#120 India Insight:Haldiram Stake Sale, SBI's New Unit, and India's 600 GW Green Energy Goal

<ul>
<li>Alumina's wild swings have turned favourably for <a href="https://www.smartkarma.com/entities/vedanta-ltd" target="_blank" data-smartkarma-citation="entities:514:1" rel="noopener">Vedanta Ltd (VEDL IN)</a> . Aluminium constituted about 40% 9MFY25 EBITDA and could see significant near-term margin expansion.</li>
<li>
<a href="https://www.smartkarma.com/entities/alcoa-corp" target="_blank" data-smartkarma-citation="entities:6510:1" rel="noopener">Alcoa (AA US)</a>'s over-reliance on external alumina sales implies it could face significant margin contraction in the near-term.</li>
<li>Valuation: Both VEDL and AA trade at about 10x fwd consensus earnings. VEDL also has &gt;10% dividend yield in recent years making it a far attractive bet. </li>
</ul>


Alumina's wild swings have turned favourably for Vedanta Ltd (VEDL IN) . Aluminium constituted about 40% 9MFY25 EBITDA and could see significant near-term margin expansion.

Alcoa (AA US)'s over-reliance on external alumina sales implies it could face significant margin contraction in the near-term.
Valuation: Both VEDL and AA trade at about 10x fwd consensus earnings. VEDL also has &gt;10% dividend yield in recent years making it a far attractive bet. 


Vedanta (VEDL IN) Set for Major Margin Expansion

India

Vedanta Limited mines, produces, and exports base metals. The Company mines and distributes metals such as zinc, iron ore, copper, silver, and aluminium, as well as operates power plants. Vedanta markets its products worldwide.

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Vedanta Ltd (VEDL IN)

Rio Tinto’s Green Aluminium Bet on India: A Strategic Pivot Amid Global Decarbonization

Rio Tinto plans $5-7B green aluminium project in India with AMG M&M, leveraging local resources and renewables for low-carbon production.

Rahul Jain

Insiders' Playbook: Who’s Buying and Selling Amid Market Turbulence?

Indian equities face turbulence in early 2025 due to various factors, but insider trading activity provides a signal amid the volatility.

Nimish Maheshwari

#123 India Insight: Hero MotoCorp Execs Resign, Allianz Partners Jio, Bain to Buy Manappuram Stake

Executives resign at Hero Motocorp, Allianz forms new partnership with Jio Financial, Bain Capital to acquire stake in Manappuram Finance.

Sudarshan Bhandari

#120 India Insight:Haldiram Stake Sale, SBI's New Unit, and India's 600 GW Green Energy Goal

Haldiram sells stake to Temasek, SBI to launch project finance unit for AI, fintech, renewable energy, India needs 600 GW non-fossil capacity by...

Sudarshan Bhandari

Vedanta (VEDL IN) Set for Major Margin Expansion

Alumina price swings benefit Vedanta Ltd while Alcoa faces margin contraction. Vedanta offers better valuation and dividend yield.

Rahul Jain

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Rio Tinto’s Green Aluminium Bet on India: A Strategic Pivot Amid Global Decarbonization

​Rio Tinto plans $5-7B green aluminium project in India with AMG M&M, leveraging local resources and renewables for low-carbon production.

Rahul Jain

Insiders' Playbook: Who’s Buying and Selling Amid Market Turbulence?

​Indian equities face turbulence in early 2025 due to various factors, but insider trading activity provides a signal amid the volatility.

Nimish Maheshwari

#123 India Insight: Hero MotoCorp Execs Resign, Allianz Partners Jio, Bain to Buy Manappuram Stake

​Executives resign at Hero Motocorp, Allianz forms new partnership with Jio Financial, Bain Capital to acquire stake in Manappuram Finance.

Sudarshan Bhandari

#120 India Insight:Haldiram Stake Sale, SBI's New Unit, and India's 600 GW Green Energy Goal

​Haldiram sells stake to Temasek, SBI to launch project finance unit for AI, fintech, renewable energy, India needs 600 GW non-fossil capacity by...

Sudarshan Bhandari

Vedanta (VEDL IN) Set for Major Margin Expansion

​Alumina price swings benefit Vedanta Ltd while Alcoa faces margin contraction. Vedanta offers better valuation and dividend yield.

Rahul Jain

Rio Tinto plans $5-7B green aluminium project in India with AMG M&M, leveraging local resources and renewables for low-carbon production.

Indian equities face turbulence in early 2025 due to various factors, but insider trading activity provides a signal amid the volatility.

Executives resign at Hero Motocorp, Allianz forms new partnership with Jio Financial, Bain Capital to acquire stake in Manappuram Finance.

Haldiram sells stake to Temasek, SBI to launch project finance unit for AI, fintech, renewable energy, India needs 600 GW non-fossil capacity by...

Alumina price swings benefit Vedanta Ltd while Alcoa faces margin contraction. Vedanta offers better valuation and dividend yield.