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BusinessPhoto: NDTV Business

Novelis Q2 Profit Rises 29% Led by Higher Aluminium Prices

Novelis Inc., Hindalco's subsidiary, reported a 29% year-on-year net income increase to $210 million in Q2 FY2027. Net sales rose 25% to $5.9 billion, driven by higher aluminium prices. Adjusted EBITDA grew 20% to $508 million, with EBITDA per tonne up 23%. Shipments fell 2% to 919 kilotonnes. Profit gains were partly aided by $519 million insurance recoveries from 2025 Oswego fires. Brokerages remain divided on Hindalco's outlook.

NDTV Business·

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PoliticsPhoto: Amar Ujala

Supreme Court Rules Custody Must Be Reported to Magistrate Within 24 Hours

The Supreme Court has ruled that anyone taken into police custody must be produced before a magistrate within 24 hours. This decision aims to prevent police arbitrariness and ensure legal safeguards for detainees. The court emphasized strict adherence to this timeline to protect individual rights during detention.

Amar Ujala·

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BusinessPhoto: Mint Companies

PE Firms Use Management Incentives to Boost Growth and Exit Value

Private equity firms are increasingly using management incentives, which are payments beyond regular salaries, as a form of profit sharing. Industry executives say these incentives help attract and retain top talent to lead portfolio companies effectively through growth phases and eventual exits, enhancing overall value for investors.

Mint Companies·

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BusinessPhoto: Mint Companies

Tata Motors Faces Challenges Turning Around Iveco After Losses

Iveco reported a €45 million loss in the September quarter, marking its second quarterly loss this year, coinciding with Tata Motors taking control. Tata Motors now faces the challenge of turning Iveco around while managing acquisition debt and adhering to conditions that prevent immediate restructuring.

Mint Companies·

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BusinessPhoto: TOI Business

Rupee Strengthens by 16 Paise to 94.48 Against Dollar

The Indian rupee gained 16 paise to close at 94.48 against the US dollar on Thursday, marking its strongest level in two weeks and the fifth consecutive session of gains. The rise was driven by resumed foreign investor buying and crude oil prices falling below $100 per barrel. Dealers noted portfolio reallocation as investors moved away from AI investments.

TOI Business·

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EntertainmentPhoto: TOI Entertainment

'Ranabaali' Box Office Collection Drops to Rs 12 Lakh on Day 21

After a strong debut with Rs 9.25 crore net in India, Vijay Deverakonda and Rashmika Mandanna's film 'Ranabaali' faced a sharp decline at the box office. By the 21st day, the film's total collection reached Rs 58.98 crore, showing a significant drop especially during its second and third weeks.

TOI Entertainment·

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