Preview: India's Hindalco to benefit from higher aluminium prices as Novelis drag eases

JM Financial

07/08/2026 05:55

** Shares of India's Hindalco Industries HALC.NS up 0.31% to 1029.70 rupees 
** Analysts, on average, expect the aluminium producer to post a 35.3% y/y rise in first- quarter revenue to 869.17 billion rupees ($9.12 billion) - data compiled by LSEG
** UBS expects Hindalco's India aluminium EBITDA to rise on stronger aluminium prices, with higher realisations expected to offset increased production costs
** JM Financial expects Hindalco's India core earnings to rise 12% sequentially, driven by a 13% increase in aluminum realizations, while Novelis' EBITDA is seen broadly stable
** Investors will watch management commentary on Novelis' recovery after analysts said the impact of last year's Oswego plant fire is easing, even as higher debt remains a concern
** YTD stock up 16.33%
     
($1 = 95.2725 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru)
((Surbhi.Misra@thomsonreuters.com |  X: https://twitter.com/SurbhiMisra_  |;))