Novelis refrained from giving near term guidance amid uncertain tariff situation and elevated scrap pricing; although scrap availability has improved. Hindalco Industries (HNDL) Q4FY25 delivered strong cons operating performance on strong India aluminium business and Novelis. Strong LME, higher alumina prices and lower operating cost aided Indian upstream aluminium business while superior product mix benefitted downstream as volumes were stable. Mgmt. guided flattish costs for Q1 and expect...