Result Preview:Metals and Mining
Following a seasonally strong Q4FY26, we expect sequential (QoQ) EBITDA growth to moderate across our metals coverage in Q1FY27.
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Aluminum Sector Update - The Era of Energy-Constrained Scarcity
The global aluminium industry has entered a decade of structural realignment, transitioning from a cyclical industrial metal into an energy...
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Top Conviction Ideas - “Metals & Mining”
EBITDA stood at Rs 10,176 Cr (up 6%/28% YoY/QoQ), exceeding our pre-Novelis results estimate of Rs 8,970 Cr, led by strong upstream aluminium and...
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Accessing the Impact of Middle East Disruption on Metals & Mining Sector
The geopolitical tensions in the Middle East have led to an increase in the HRC and rebar prices by 14% and 7% quarter to date, while coking coal...
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Top Conviction Ideas - “Metals and Mining”
Hindalco’s Indian operations stood robust, offsetting Novelis's muted profitability. Consolidated Revenue stood at Rs 66,521 Cr (up 14%/1% YoY...
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