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