Hindalco Shares Climb 3.5-4% as Novelis Delivers Strong Q4 Profit

$HINDALCO alco Industries shares rose up to 4% on Wednesday after its subsidiary Novelis reported higher operating profit for the fourth quarter, boosting investor sentiment. Novelis, a global leader in aluminium rolling and recycling, posted improved profitability despite operational challenges. The company, however, cautioned of a larger impact on cash flows due to fires at its Oswego facility in the US. In a positive update, Novelis said it will restart the hot mill at Oswego earlier than initially planned. The company also expects to achieve cost savings of $350-400 million by the end of FY28 through efficiency measures and recovery efforts.