Hindalco shares plunge ahead of Q3 results this week. Should you buy the metal stock?1 min read . Updated: 07 Feb 2023, 09:35 AM IST
- Hindalco shares plunged over 3% to ₹433 apiece on the BSE in opening deals
Shares of Aditya Birla Group's metals flagship Hindalco Industries Ltd plunged over 3% ahead of its Q3 results that is scheduled this week. The company will report consolidated results on Thursday, 9 February, 2023. Novelis, Hindalco‘s subsidiary, posted an EBITDA of $341mn, down 33% YoY and EBITDA/t of $376, down 31% YoY. This was primarily due to high energy and freight cost and lower volumes, which in turn was due to lower beverage cans volume amid destocking at consumers’ end.
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