$HINDALCO

Aluminium giant Hindalco’s shares climbed as much as 3.5% on May 20, emerging as the top gainer on the Nifty, after its US-based subsidiary Novelis reported stronger operating profits in the fourth quarter and announced that its Oswego plant will resume operations in the coming weeks. Novelis acknowledged that the fires at its Oswego facility will have a larger impact on cash flows, but said the hot mill will restart sooner than originally planned. The company also expects higher medium-term savings from ongoing cost-reduction initiatives. During the quarter, net loss of $84 million, with rolled product shipments falling 12% year-on-year. Adjusted EBITDA declined 3% to $459 million, primarily due to a $53 million impact from the Oswego fires and an additional $27 million hit from tariffs. These challenges were partly offset by $41 million in insurance recoveries related to the Sierre flood incident. Net loss attributable to common shareholders for the quarter stood at $84 million. The company further reported that it ended FY26 with over $200 million in annualized run-rate cost savings from its global efficiency program and now expects total savings of $350 million to $400 million by the end of FY28.