Hindalco Novelis Deal

The delay will likely have a short-term negative impact on Hindalco, said Sneha Poddar, associate vice president at Motilal Oswal Financial Services

Hindalco, a leading aluminium and copper manufacturer, holds a 100 per cent stake in Novelis, which is in a similar business

On successful completion of its IPO, Novelis will be among the few subsidiaries of Indian companies to be listed separately on foreign bourses

We bought Novelis for $6 billion and we got equity of $3 billion in the first three years itself, says K M Birla