India's Hindalco drops on Novelis woes, capex blowout concerns

HindalCo Industries

06/11/2025 04:26

** Hindalco Industries HALC.NS stock drops 6.4% to 778.1 rupees

** Subsidiary Novelis' September-quarter adjusted EBITDA falls 9% YoY; raises greenfield plant capex guidance to $5 bln

** Fire at Novelis' New York plant to impact Hindalco's cash flow by $550-650 mln

** Ambit cites "litany of concerns after another capex blowout"

** Jefferies notes Novelis' net debt at 21-quarter high, set to rise further with higher capex amid rising aluminium prices, fire impact

** Hindalco to report earnings on November 7

** Trading volume at 9.2 mln shares in <1 hour, nearly 2x 30-day avg

** 27 analysts, on avg, rate HALC "buy"; median PT at 775 rupees - data compiled by LSEG

** YTD, HALC up 29%

 (Reporting by Vivek Kumar M)

 ((VivekKumar.M@thomsonreuters.com;))