Muted metal prices to impact aggregate operating margin We expect the aggregate topline of coverage companies to decline 19.1% YoY. On the back of a weakness in metal prices, in general, YoY, the aggregate EBITDA is expected to decline 35.9%YoY. The EBITDA/tonne of domestic miners in Coal India is likely to come in at | 391/tonne with NMDC expected to report the same at | 2138/tonne. We expect Novelis (Hindalco's...