Here is why Hindalco shares tumbled 6 per cent on Thursday

In Q4, Novelis reported 15 per cent YoY decline in adjusted EBITDA at $431 million primarily due to short-term operational cost challenges.

Shares of Hindalco Industries hit an over nine-month low at Rs 397, and traded at its lowest level since July 26, 2021, as the stock dipped 6 per cent on the BSE in Thursday’s intra-day trade, after Novelis' March quarter result. The company’s subsidiary reported 15 per cent year-on-year (YoY) decline in adjusted earnings before interest, taxes, depreciation, and amortization (Ebitda) at $431 million during the quarter, primarily due to short-term operational cost challenges. 

Hindalco traded lower for the third straight day, down 11 per cent during the period. Moreover, in the past one month, the stock has underperformed the