CORRECTED-BUZZ-Street View: Novelis plant restart boosts outlook for India's Hindalco

Corrects Bullet 2 to say fire incident took place in September 2025, not September 2024

** Shares of metals producer Hindalco HALC.NS up 3.4% to 1,085.1 rupees

** U.S. subsidiary Novelis said its New Jersey plant at Oswego, which was impacted by a fire incident in September 2025, is expected to restart within the next few weeks, ahead of earlier expected timeline of June-end

NOVELIS OSWEGO RESTART, BAY MINETTE BOOST OUTLOOK

** JP Morgan ("Overweight"; PT: 1,175 rupees) says investors will now monitor pace of Oswego's volume ramp-up, confidence in Bay Minette driving incremental volumes, and scrap price trends

** ICICI Direct Research says co expects the Oswego plant to see healthy volume recovery from H2CY26, supporting positive free cash flow generation in FY27

** Says it remains positive on HALC given Novelis contributes ~60% to co's consol revenue and ~56% to EBITDA

** Emkay ("Buy"; PT: 1,100 rupees) says Novelis reports strong Q4 performance despite headwinds from Oswego fire and tariffs

** Expects earnings recovery from Q2FY27 onward, supported by plant reopening, improving scrap spreads and Bay Minette commissioning


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