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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.
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