Hindalco share price (NSE: HINDALCO) fell nearly 3% to ₹776.05 on November 21 after news resurfaced about a fire incident at Novelis’ Oswego plant in the US. By 9:40 am, the stock was down about 1.9%, while the Sensex also traded slightly lower.

Details of the Fire Incident

The company had earlier informed the exchanges in September that a fire broke out at the Novelis facility in New York on September 16 (US time).

• No injuries occurred.
• The fire was largely controlled by early morning on September 17 (US time).
• The plant’s hot mill is expected to restart in December 2025.

Recent Stock and Market Trends

Hindalco shares are currently trading between their 52-week low of ₹546.25 and high of ₹864. Despite today’s fall, the stock has been supported by strong quarterly results earlier this month.

Hindalco’s Q2 FY26 Earnings Performance

The company delivered a solid Q2 (reported on November 7, 2025):

• Consolidated EBITDA: ₹9,684 crore (up 6% YoY)
• Consolidated PAT: ₹4,741 crore (up 21% YoY)
• Aluminium Upstream EBITDA: ₹4,524 crore (up 22%; 45% margins — best in the industry)
• Aluminium Downstream EBITDA: ₹261 crore (up 69%)
• Copper Business EBITDA: ₹634 crore (stable YoY)
• Novelis Shipments: 941 KT (flat YoY)

Novelis continues to target cost reductions of $125 million by FY26 and $300 million by FY28.

Hindalco also announced a Phase 2 expansion at Aditya Aluminium, adding 193 KT of additional capacity. Net debt to EBITDA stood at 1.23x as of September 2025.

Also Read: OIL India, NEEPCO Sign 15-Year Gas Supply Agreement!

Conclusion

Hindalco’s share dip reflects renewed concerns around the fire incident at Novelis’ Oswego plant, although the company confirmed no injuries and expects operations to resume soon. With strong Q2 results and expansion plans underway, the long-term outlook remains stable, despite short-term volatility.

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