Hindalco dips 7%, hits 8-week low on disappointing Novelis's Q2 numbers

Quick Summary:

The decline in Ebitda was primarily driven by less favorable metal benefits due to a relatively rapid rise in aluminum scrap prices, unfavorable product mix, and a $25 million impact at Sierre.

Consequently, Hindalco’s financials will also be impacted given that Novelis contributes 60 per cent and 56 per cent of Hindalco’s consolidated sales and Ebitda.

Meanwhile, the company's board of directors of Hindalco is scheduled to meet on Monday, November 11, 2024, to consider and approve the unaudited financial results of the company for the quarter and half-year ended September 30, 2024.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: BusinessFinance

Markets: IndiaSwitzerland

Topics: Aditya Birla Group Q2 Aerospace Constellium Packaging Novelis Hindalco Industries shares Markets Aluminium

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 10:05:31 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 585 words

Reading Time: 4 minutes read

Sentences: 20 lines

Sentence Length: 30 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23456390

View Article Analysis

About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 284 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 3 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

Publisher Details

Frequently Asked Questions