Today news
The same in other media
Hindalco may not be squeezed much as Novelis’s can biz holds up
Reading now: 222
The near-standstill in economic activity and the shuttering of many manufacturing units has not put the brakes on beverage consumption in the US.
Novelis Inc.’s beverage can production seems to be immune to the pandemic and may shore up parent Hindalco Industries’ (consolidated) operations.
After a 40% fall year to date, the Hindalco scrip has recovered 17% in the past week. Novelis’s contribution to its parent’s profitability is significant, accounting for about 70% of Hindalco’s consolidated Ebitda (earnings before interest, tax, depreciation and amortization).
Hence, a disruption in its US business would have naturally hit Hindalco’s operating leverage quite hard. However, beverage cans constitute 63% of Novelis’s volumes, which is
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
COVID-19
United States
|
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
|
India
|
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
|
Brazil
|
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
|
United Kingdom
|
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
|
Russia
|
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
|