Hindalco Industries | CMP: Rs 406.70 | The stock ended lower by 3 percent despite its subsidiary Novelis Inc recorded a 21 percent year-on-year growth in net income at $217 million in March 2022 quarter driven by topline and lower tax cost. Net sales increased 34 percent to $4.8 billion compared to year-ago period, primarily driven by higher average aluminum prices and local market premiums. But adjusted EBITDA at $431 million fell 15 percent YoY primarily due to short-term operational cost challenges.

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