Hindalco shares rise 2% on Novelis' upbeat commentary; US arm reports $84 million net loss

Hindalco shares gained 2% after US arm Novelis plans to reopen its Oswego hot mill sooner than anticipated, despite a higher projected cash flow hit from plant fires. The company foresees significant cost savings and aims for positive free cash flow by year-end. While sales rose, net loss widened, and debt levels climbed.