India's Hindalco falls on tariff concerns for US unit Novelis
Hindalco Industries' HALC.NS shares fall 2.4% to 636.6 rupees
Multiple brokerages flag tariff concerns for the aluminium maker's U.S. unit Novelis
Novelis reported core profit above analysts' expectations in the March quarter on Monday, led by better shipments
However, co's management refrained from providing volume and margin forecast for fiscal 2026 due to tariff uncertainties
Aluminium ingot/product imports are subject to 25% tariff in the U.S.
This could have a quarterly impact of about $40 million on Novelis' earnings, starting from June quarter, Kotak Institutional Equities says
Tariff uncertainties have also hurt auto demand, leading to adverse product mix for Novelis, Jefferies says
HALC shares up 8.2% in 2025 so far, outperforming metal index .NIFTYMET and benchmark Nifty 50 .NSEI, which are up 2.4% and 4.2%, respectively, over the same period
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