Highlights

• Hindalco shares are trading near their 52-week high of ₹919.40, with gains of over 52% in the past year.
• Novelis announced a $750 million share subscription agreement involving AV Minerals.
• Consolidated PAT for Q2 FY26 rose 21% year-on-year to ₹4,741 crore.

Hindalco Industries Ltd (NSE: HINDALCO) is trading close to its 52-week high amid recent corporate developments and its latest quarterly financial results. The stock has outperformed the broader benchmark index over multiple timeframes.

The company’s shares were trading at ₹917.10, up ₹22.15 or 2.47% during the latest session. Over the past five trading days, the stock has advanced 4.42%, while gains over the past year stand at 52.92%.

In comparison, the benchmark Nifty 50 index was trading at 26,298.30, up 0.58% on the day. The index posted gains of 0.94% over the past five days and 8.72% over the past year, indicating that Hindalco has outpaced the broader market across these periods.

Novelis Share Subscription Announcement

On December 29, 2025, Hindalco informed exchanges that Novelis had entered into a subscription agreement with AV Minerals. AV Minerals is the sole shareholder of Novelis and a wholly owned subsidiary of Hindalco Industries Ltd.

Under the agreement, AV Minerals will purchase 50,00,000 common shares of Novelis, with no par value, for a total consideration of $750 million. The shares are priced at $150 per share.

Completion of EMMRL Acquisition

Earlier, on December 1, 2025, Hindalco completed the acquisition of a 100% equity stake in EMMRL, which was previously a wholly owned subsidiary of EMIL. Following the transaction, EMMRL became a wholly owned subsidiary of Hindalco with effect from December 1, 2025, expanding the company’s portfolio of subsidiaries.

Q2 FY26 Financial Performance

Hindalco reported consolidated revenue of ₹66,058 crore for Q2 FY26, registering a 13% increase year-on-year. Consolidated profit after tax stood at ₹4,741 crore, marking a 21% annual rise.

Aluminium Upstream EBITDA for the quarter came in at ₹4,524 crore, up 22%, with EBITDA margins reported at 45%. Aluminium Downstream EBITDA reached an all-time quarterly high of ₹261 crore, up 69%. Copper EBITDA was reported at ₹634 crore, in line with company guidance.

Novelis shipments were reported at 941 KT, similar to the prior-year period. The company outlined cost-reduction initiatives targeting over $125 million in annualised savings by FY26 and $300 million by FY28. Net debt to EBITDA stood at 1.23x as of September 30, 2025.