Novelis, a subsidiary of Hindalco Industries, reported a significant decline in its financial performance for the second quarter of fiscal year 2025. The company's net income fell 18% year-over-year to $128 million, while net income excluding special items decreased by 1% to $179 million. Adjusted EBITDA also saw a decline of 5%, totaling $462 million. Despite a 1% increase in rolled product shipments to 945 kilotonnes, the company's EBITDA per tonne dropped 7% quarter-over-quarter. The demand outlook appears positive for cans and is improving for construction, but has weakened for the automotive sector. Following these results, Hindalco shares experienced a notable decline, falling nearly 7% as the company suspended key financial metric guidance. The broader market reflected this downward trend, with the Sensex dropping over 800 points and the Nifty dipping below 24,250, influenced by declines in banking and Reliance Industries stocks.