Hindalco plunges 15% on increased revision in Novelis capex; here are updated share price objectives
Hindalco: JM Financial stated that while there’s a considerable increase in capital expenditure (capex), it may lead to a decrease in the internal rate of return (IRR). However, they anticipate a positive impact on earnings trajectory, driven by plant commissioning, enhanced recycling efforts, and evenly distributed capex. Shares of Hindalco Industries Ltd dropped by 15…