Novelis adjusted EBITDA/ tonne (rolled product) came in at US$417/tn (+13% /+5% YoY/ QoQ). FRP shipment stood at 797 kt, impacted by disruption in North America and South America. Focus remains on automotive segment which continues to be promising Strong performance in standalone and Novelis has been helpful. We have revised our estimates as we have included Utkal in our standalone estimates. Maintain BUY with a...