Share Price Targets Revision

Hindalco shares dive 15% as Novelis increases project spending, delays timeline

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Business

Hindalco shares dive 15% as Novelis increases project spending, delays timeline

13/02/2024 dheeraj0Tagged $2.5 billion, 6 months, aluminum sheet market growth, Analyst outlook, cautiously optimistic, cost overruns, demand slowdown, Future performance factors, Headwinds, Hindalco, Hindalco share, Hindalco share price fall, Hindalco shares, Investor concerns, Long-term benefits, Market Conditions, Novelis, Novelis capex increase, Operational Efficiency, profitability impact, Project delay, rising costs, Share price targets revision, strategic initiatives

Hindalco shares dive 15% as Novelis increases project spending, delays timeline Shares of Indian metals giant Hindalco plunged 15% today, their biggest single-day drop in over a year, following news that its US subsidiary Novelis has significantly increased its planned capital expenditure (capex) for an ongoing expansion project while also pushing back its completion timeline. […]