Novelis on Tuesday launched a roadshow for its proposed initial public offering (IPO), where Indian parent Hindalco plans to sell 45 million shares, or a 7.5% stake, in the company at $18-21 per share.
Hindustan Zinc, Vedanta, Nalco and other metal stocks slide up to 5%. Here’s why
Metal stocks tumbled up to 5% on Monday, with the Nifty Metal index falling over 2% amid a decline in metal prices and rising expectations