Hindalco shares also gained after a report suggested that the stock could be included in the Sensex during the June 2026 rejig. According to the report, Hindalco and Shriram Finance are among the key contenders for inclusion, while Trent could move out of the index. The report estimates Hindalco could see passive inflows of nearly $366 million if included in the Sensex.

Novelis reported adjusted EBITDA of $459 million in Q4 FY26, down 3% year-on-year, while adjusted EBITDA per tonne increased 10% to $544. The company said the improvement in EBITDA per tonne was supported by favourable scrap prices and higher insurance recoveries linked to the Sierre flood incident.

Net sales during the quarter rose 4% YoY to $4.8 billion, driven by higher average aluminium prices, although rolled product shipments declined 12% to 844 kilotonnes due to production disruptions at its Oswego plant in New York.

Novelis posted a net loss attributable to shareholders of $84 million in Q4 FY26 compared with a net profit of $294 million in the year-ago period. The loss was primarily due to pre-tax losses related to fires at the Oswego facility.

The company said the Oswego hot mill is expected to restart within the next few weeks, ahead of earlier estimates. Novelis also said commissioning activities have started at its Bay Minette aluminium plant in Alabama, with full project commissioning expected in the second half of calendar year 2026.

For the full fiscal year 2026, Novelis reported adjusted EBITDA of $1.6 billion, down 9% YoY, while net sales increased 7% to $18.4 billion.

Hindalco Industries is the metals flagship company of the Aditya Birla Group and operates across aluminium and copper businesses globally. Novelis is among the world's largest aluminium rolling and recycling companies.

The company reported 45% drop in consolidated net profit to Rs 2,049 crore despite a 14% rise in revenue from operations to Rs 66,521 crore in Q3 FY26 over Q3 FY25.

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