Hindalco falls; unit Novelis oper profit lags some estimates

Reuters Market Eye - Shares of Hindalco Industries fall as much as 2.8 percent after its unit Novelis Inc's April-June operating profit lags some estimates, analysts say.

Novelis' Operating profit per tonne was down to $305 in Q1 versus $332 in Q4, Reuters calculations show.

However, Novelis' net profit more than doubled on yearly basis on higher beverage can sales.

(Reporting by Abhishek Vishnoi)