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Trump win gives a lift for Novelis
Mint Mumbai
|November 12, 2024
The election of Donald Trump as the next president of the US bodes well for aluminium maker Novelis Inc., a top executive of its parent Hindalco Industries Ltd said.
The election of Donald Trump as the next president of the US bodes well for aluminium maker Novelis Inc., a top executive of its parent Hindalco Industries Ltd said. "This administration will be good for Novelis, because Novelis produces metal in the US for the US," said Satish Pai, managing director of Hindalco Industries, the Aditya Birla Group flagship.
Novelis, which has been facing some headwinds lately, reported a 3% drop in its Ebitda in the quarter to ₹3,872 crore, even as parent Hindalco's consolidated Ebitda rose 40% and net profit surged 78% year-on-year (y-o-y) in Q2. Ebitda is short for earnings before interest, tax, depreciation and amortization.
This story is from the November 12, 2024 edition of Mint Mumbai.
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