Hindalco shares tumble 7% as recycling arm Novelis logs weak Q2 numbers
Shares of Hindalco today fell by 7% to an intraday low of Rs 657.65 on the BSE after the companyβs wholly-owned subsidiary Novelis posted an 18% YoY drop in its net income attributable to the shareholders. The same stood at $128 million. The net income attributable to the common shareholder, excluding special items was reported…
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SoftBank unveils $3.4 billion buyback amid pressure from investors
Japanese technology investor SoftBank Group said on Wednesday it plans to buy back a hefty $3.4 billion in shares, answering in part calls from Elliott Management and other investors to bolster its stock price. Masayoshi Son’s globe-spanning tech giant has been under pressure to buy back shares given that its market capitalisation trades at a…
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