Hindalco shares dip 7% as Novelis’ net income falls by 18% YoY

Hindalco's shares plummeted 7% following subsidiary Novelis's announcement of an 18% drop in net income, settling at $128 million for Q2 FY2025. Despite a 5% growth in net sales driven by higher aluminum prices, Novelis's adjusted EBITDA declined 5% YoY, impacted by a flooding event at its Sierre facility.