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Ultratech Cement is currently trading at Rs. 10815.00, up by 188.60 points or 1.77% from its previous closing of Rs. 10626.40 on the BSE. The scrip opened at Rs. 10600.95 and has touched a high and low of Rs. 10863.60 and Rs. 10600.95 respectively. So far 807 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 12138.25 on 27-Sep-2024 and a 52 week low of Rs. 8544.00 on 24-Nov-2023. Last one week high and low of the...
UltraTech Cement gains on planning to deploy 100 more electric trucks
Ramco Industries is currently trading at Rs. 286.65, up by 2.65 points or 0.93% from its previous closing of Rs. 284.00 on the BSE. The scrip opened at Rs. 288.15 and has touched a high and low of Rs. 292.15 and Rs. 285.20 respectively. So far 4071 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 310.00 on 12-Nov-2024 and a 52 week low of Rs. 192.05 on 14-Mar-2024. Last one week high and low of the scrip stood at...
Ramco Industries rises on acquiring stake in M/s. The Ramco Cements
Result Synopsis In 2QFY25, ACC’s revenue grew by 3.9% YoY but declined by 10.6% QoQ to Rs40bn, is 15% ahead of our estimate due to higher-than-expected volume and realization. Volumes were up by 14.8% YoY but declined by 8.8% QoQ. The QoQ decline in volume mainly due to heavy seasonal impact and intensifying competition in the industry. While realization was dropped 9.5% YoY and 2% QoQ due to persistent of weak pricing across the geography due to seasonal impact and sluggish demand. ...
Buy ACC Ltd For Target Rs. 2,909 by Yes Securities Ltd
All India avg. prices are flattish to negative in Oct’24, international coal and pet-coke prices have inched up. Our cement channel check suggests, all-India avg. trade cement prices were down by Rs1 per bag on a MoM basis in Oct’24. The East (-6), South (-Rs2), followed by flattish in West and Central, while North have witnessed a marginal price hike of Rs5 (Ref. page 3). During Oct’24, a few pockets took a price hike at the start/mid of the month but didn’t sustai...
Sector Update : All India average prices are flattish to negative in Oct`24, international coal and pet-coke prices have inched up by Yes Securities Ltd
Lower volume and higher costs lead to missed earnings * JK Cement (JKCE)’s 2QFY25 consolidated EBITDA was at INR2.8b (down 39% YoY) and ~22% below our estimates due to lower-than-estimated sales volume (6% miss) and higher-than-estimated opex/t (+5% vs. our estimate). Higher opex/t was partly due to: 1) higher branding expenses; 2) clinker purchases for its South plant due to the shutdown; and 3) higher maintenance costs. EBITDA/t declined 36% YoY to INR656 (est. INR787) and OPM...
Buy J K Cement Ltd For Target Rs.5,000 By Motilal Oswal Financial Services Ltd
Results marginally lower than estimates; Capex on track Shree Cements (SRCM) reported results which were only marginally lower than our expectations. Volumes de-grew 7.3% YoY while realizations fell 2.2% QoQ and as a result, revenue declined by 19% YoY. EBITDA at Rs5.9bn was down 32% YoY and 5% below our estimates. Management highlighted that its strategy of value over volumes and increased premium cement sales (15% of trade sales) resulted in minimizing the fall in realizations. Company&r...
Add Shree Cement Ltd For Target Rs. 25,562 By Centrum Broking Ltd
Nuvoco Vistas Ltd Q2FY25 volumes came at INR4.2mnt, down 6.7% YoY and 12.5% QoQ, impacted due to extended monsoon season and less than expected govt spends. Revenue for quarter came at INR22,686mn, down 11.8% YoY and 14.0% QoQ. EBITDA/t for the quarter came at INR521/t, down 29.0% YoY and 27.2% QoQ. Company had reported loss of INR852mn vs profit of INR13mn in Q2FY24. EPS for Q2FY25 was INR (2.4). Share of premiumization reaching at 43% of trade volumes vs 40% in previous quarter. * C...
Reduce Nuvoco Vistas Corporation Ltd For Target Rs. 349 By Choice Broking Ltd
Shree Cement Ltd reported Q2FY25 volumes came in at 7.6mnt, marking a decrease of 7.3% YoY and 21.2% QoQ. The volume is impacted mainly due to extended monsoon and muted infra spends by Govt, resulting in revenues of INR37,270mn, a decline of 18.3% YoY and 22.9% QoQ. The revenue drop was primarily due to lower volume. The EBITDA/t for the quarter was INR780/t, down 26.5% YoY and 18.0% QoQ, largely impacted by lower demand and higher employee expenses. The PAT for the quarter was INR931mn, a d...
Hold Shree Cement Ltd For Target Rs. 26,186 By Choice Broking Ltd
Ambuja Cements Ltd. Q2FY25 volumes came at INR8.7mnt, up 14.8% YoY but down 6.5% QoQ, driven by high acceptance of premium products and Offering value added solutions beyond cement. Revenue for quarter came at INR42,132mn, up 6.1% YoY but down 6.7% QoQ. EBITDA/t for the quarter came at INR782/t, down 23.3% YoY but up 12.6% QoQ. The YoY decline in EBITDA/t was mainly led by Raw material cost. PAT for quarter stood at INR5,007mn, down 22.2% YoY and 12.3% QoQ. EPS for the quarter was INR2.0. ...
Buy Ambuja Cements Ltd For Target Rs. 634 By Choice Broking Ltd
Result Synopsis In 2QFY25, ACL’s consolidate numbers were better than other peers. Revenue/ EBITDA/ Volume/ Realization/ EBITDA per tonne is broadly in line with our estimates. Revenue up by 1.2% YoY ( -9.6% QoQ), is 4% ahead of our estimate. Higher revenue despite seasonal impacts led by better realization and volume numbers. Volumes up by 9.1% YoY (-10% QoQ), is 1.4% ahead of our estimate. Realization down by 7.2% YoY (flattish QoQ), is 2.6% ahead of our estimates. EBITDA in absolu...
Sell Ambuja Cements Ltd For Target Rs.471 By Yes Securities Ltd
Cost efficiency and regional benefits to lead margin expansion. Reinitiating with BUY Result Synopsis In 2QFY25, BCORP reported a weak set of numbers. Lower volume, coupled with weak realizations, resulted in revenue contraction of approximately 15% YoY and 11% QoQ. Intense seasonal impact dampened the volume by 5% YoY and 9.4% QoQ despite BCORP’s strong presence in demand-rich regions, such as Central India. Realization was down by 10.1% YoY and 1.7% QoQ due to seasonal and pric...
Buy Birla Corporation Ltd For Target Rs.1,425 By Yes Securities Ltd
Birla Corporation reported consolidated volumes of 3.97mnt for Q2FY25, reflecting a decline of 5.0% YoY and 9.4% QoQ. The drop in sales volume was attributed to disruptions caused by extended monsoon, flood and slow pick-up in government projects. Revenue for the quarter stood at INR19,526mn, marking a decrease of 14.6% YoY and 10.9% QoQ. The company achieved a utilization rate of 78% for Q2FY25, compared with the 83% in Q2FY24. EBITDA/t for the quarter stood at INR446/t, down 35.5% YoY and 2...
Buy Birla Corporation Ltd For Target Rs.1,254 By Choice Broking Ltd
Dalmia Bharat Ltd. reported consolidated volumes of 6.7mnt in Q2FY25, reflecting a YoY Growth of 8.1%. The QoQ drop was of 9.5%, primarily due to elections, the monsoon season, and floods in specific regions. Management expects the company’s volume growth in FY25E to be 1.5x times the industry average. Consolidated revenue for Q2FY25 amounted to INR30,870mn, declined by 2.0% and 14.7% YoY/QoQ due to lower volumes and realizations. EBITDA/t for the quarter was INR648/t, down 31.8% and 28...
Reduce Dalmia Bharat Ltd For Target Rs.1,922 By Choice Broking Ltd
UTCEM’s consolidated Q2FY25 volumes stands at 27.8mnt, up 4.3% YoY but down 12.9% QoQ, with driven by revenues declining by 2.45% YoY to INR156.4bn. Cement demand was affected by elections and monsoons. UltraTech achieved 68% capacity utilization for Q2FY25. EBITDA/t was INR725/t, down 24.1/23.8% YoY/QoQ due to higher employee and other costs. PAT for the quarter stood at INR8.3bn, down 35.4% YoY and 51.2% QoQ. EPS for the quarter was INR28.4. * Robust Capex & Expansion plans: Th...
Buy Ultratech Cement Ltd For Target Rs.12,262 By Choice Broking Ltd
India Cements reported a bigger second-quarter loss on Friday as prices fell to five-year lows. The company, majority-owned by market leader UltraTech Cement, said its consolidated loss swelled to 3.39 billion rupees ($40.2 million) in the July to September quarter, from 855.4 million rupees a year earlier. For further earnings highlights, (click here) KEY CONTEXT The industry has struggled with low prices and demand failing to recover from the previous quarter, when electio...
India Cements posts wider Q2 loss as prices hit 5-year lows
Long-term outlook remains positive UltraTech Cement Ltd is the largest cement manufacturer in India. It produces grey and white cement and ready-mix concrete (RMC). * In Q2FY25, UltraTech's consolidated revenue de-grew 2.4% YoY to Rs. 15,635cr, with sales volume increasing 4.3% YoY. The de-growth was due to weaker cement prices that reduced sales realisation 6.4% YoY. * Capacity utilisation stood at 68.0% in Q2FY25 compared with 75.0% in Q2FY24 (85.0% in Q1FY25). * EBITDA stoo...
Hold UltraTech Cement Ltd For Target Rs. 12,320 By Geojit Financial Services Ltd
India's JK Lakshmi Cement reported a nearly 91% slide in its second-quarter profit on Wednesday, hurt by a decline in sales volume and cement prices. The company's profit after tax fell to 75.4 million rupees (about $894,500) for the quarter ended Sept. 30, from 830.3 million rupees a year ago. Revenue from operations dropped 21.4% to 11.41 billion rupees. Sales volume fell 14% to 1.87 million tonnes during the quarter. For further earnings highlights, click. KEY ...
India's JK Lakshmi Cement posts steep drop in Q2 profit on weak demand, low prices
Announced acquisition of 46.8% stake in Orient Cement Consolidated capacity will increase to 97mtpa post-acquisition * Ambuja Cement (ACEM) has announced the purchase of a 46.8% stake (37.9% from promoters and 8.9% from other public shareholders) of Orient Cement (ORCMNT) at a price of INR395.4 per share. The acquisition cost works out to be USD115/t (on the current operational capacity). * ORCMNT has two integrated cement plants and one grinding unit operational, with an aggregate clin...
Buy Ambuja Cements Ltd For Target Rs. 750 By Motilal Oswal Financial Services Ltd
Lower realization impacted profitability, 2HFY25 outlook promising Muted topline growth: For Q2FY25, UltraTech Cement reported revenue of Rs.15,635 crore, marking a decline of 2.4% YoY and 13.5% QoQ on the back muted volumes and lower price realisation. Weak government capex and monsoon led to 12.9% QoQ decline in sales volume, while on annualised basis it reported only sub 4% volume growth reaching 27.8 MT. Due to high competitive intensity price realization continue to remain under, seei...
Buy UltraTech Cement Ltd For Target Rs.11,446 By Religare Broking Ltd
India's core industries saw a growth of 2 per cent in September compared to the same month last year, riding on the growth in the production of cement, refinery products, coal, fertilisers, and steel. The cumulative growth rate of the Index of Eight Core Industries (ICI) during the April-September period stood at 4.2 per cent as compared to the corresponding period of last year, according to the Ministry of Commerce and Industry, adding that the final growth rate of ICI for June ...
India`s core industries see 2 pc growth in September as coal, cement lead
Ambuja Cements, the cement and building material company of the diversified Adani Group, on Monday, reported the highest quarterly revenue of Rs 7,516 crore in Q2 FY25, up 1 per cent (year-on-year). The company saw volume growth of 9 per cent YoY, at 14.2 million tonnes per annum (MTPA), the highest volume in the Q2 series in the last five years. The net worth increased by Rs 450 crore during the quarter and stands at Rs 59,916 crore. The company remains debt-free and continues to...
Ambuja Cements clocks highest quarterly revenue of Rs 7,516 crore in Q2
UltraTech Cement Limited, India’s largest cement and ready-mix concrete (RMC) company, announced the signing of a collaboration agreement with the Institute for Carbon Management (ICM) at the University of California, Los Angeles (UCLA) to pilot a groundbreaking new technology The Zero Carbon Lime (ZeroCAL) developed by ICM that can significantly reduce carbon dioxide emissions from cement production. ICM, in partnership with UltraTech, will build a first-of-a-kind demonstration plant f...
UltraTech collaborates with UCLA to advance cement industry decarbonisation
Indian cement maker ACC reported a smaller-than-expected decline in second-quarter profit on Thursday, as steady volume growth helped mitigate a decline in cement prices and rising costs. The company's profit after tax dropped 39% to 2.34 billion rupees (about $28 million) in the three months ended Sept. 30, but was above analysts' average estimate of 2.18 billion rupees, per data compiled by LSEG. Revenue from operations grew 4% to 46.08 billion rupees, while its expenses rose ...
India`s ACC posts smaller-than-expected Q2 profit drop on steady volumes
Dealmaking in India's cement sector is in the spotlight again, after Ambuja Cements said on Tuesday it will buy a near-47% stake in smaller rival Orient Cement for $451 million. Billionaire Gautam Adani's conglomerate is locked in a fierce battle with UltraTech Cement as the rivals snap up smaller firms in a bid to capitalise on expectations of heavy government spending on infrastructure. Here is a timeline of some of the major deals announced in the sector since Adani's for...
Major deals in India's cement sector since Adani Group's entry in 2022
Ultratech Cement is currently trading at Rs. 10777.85, down by 91.45 points or 0.84% from its previous closing of Rs. 10869.30 on the BSE. The scrip opened at Rs. 10800.00 and has touched a high and low of Rs. 11074.60 and Rs. 10743.45 respectively. So far 6425 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 12138.25 on 27-Sep-2024 and a 52 week low of Rs. 8148.30 on 26-Oct-2023. Last one week high and low of t...
Ultratech Cement falls as its Q2 consolidated net profit declines 36% to Rs 825 crore
Ambuja Cements, the cement and building material company of Adani Cement and part of the diversified Adani Group, today announced the signing of a binding agreement for the acquisition of Orient Cement Ltd (OCL) at an equity value of Rs. 8,100 crore. Ambuja will acquire 46.8% shares of OCL from its current promoters and certain public shareholders. The acquisition will be fully funded through internal accruals. “This timed acquisition mark...
Adani acquires Orient Cement at INR 8,100 crore equity value
Dalmia Bharat is currently trading at Rs. 1828.85, down by 21.50 points or 1.16% from its previous closing of Rs. 1850.35 on the BSE. The scrip opened at Rs. 1764.05 and has touched a high and low of Rs. 1854.90 and Rs. 1763.00 respectively. So far 15080 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2428.85 on 14-Dec-2023 and a 52 week low of Rs. 1664.20 on 04-Jun-2024. Last one week high and low of the scrip ...
Dalmia Bharat falls as its consolidated net profit declines 60% in Q2FY25
India's UltraTech Cement reported its first quarterly revenue drop in more than four years, hit by a slump in prices and demand in a seasonally weak quarter. The country's top cement maker's consolidated revenue fell 2.4% on-year to 156.35 billion rupees ($1.86 billion), but was marginally higher than the analysts' average estimate of 155.30 billion rupees. This was the company's first revenue decline since the quarter ended June 2020, when construction activities ca...
India`s UltraTech Cement posts first quarterly revenue drop since 2020
Cement demand in India is likely to grow at a moderate pace of 7-8 per cent (year-on-year) to 475 million tonnes (MTs) this fiscal, after clocking a compound annual growth rate of 11 per cent between fiscals 2022 and 2024, according to a report on Monday. Healthy monsoon, improved labour availability after the festive season, and pick-up in government spending on infrastructure and housing (under the Pradhan Mantri Awas Yojana) should drive demand up 9-11 per cent in the second half,...
Cement demand set to rebound in 2nd half of FY25, likely to grow at 8 pc
Dalmia Bharat is currently trading at Rs. 1838.80, up by 5.60 points or 0.31% from its previous closing of Rs. 1833.20 on the BSE. The scrip opened at Rs. 1833.00 and has touched a high and low of Rs. 1840.05 and Rs. 1833.00 respectively. So far 231 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2428.85 on 14-Dec-2023 and a 52 week low of Rs. 1664.20 on 04-Jun-2024. Last one week high and low of the scrip stood...
Dalmia Bharat rises as its arm to acquire 26% stake in Solsolis Solar Energy Solutions
Star Cement is currently trading at Rs. 217.60, up by 2.15 points or 1.00% from its previous closing of Rs. 215.45 on the BSE. The scrip opened at Rs. 217.55 and has touched a high and low of Rs. 221.20 and Rs. 212.50 respectively. So far 62874 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 255.95 on 22-May-2024 and a 52 week low of Rs. 147.20 on 25-Oct-2023. Last one week high and low of the scrip stood at Rs....
Star Cement surges on the BSE
Star Cement is currently trading at Rs. 213.60, up by 5.75 points or 2.77% from its previous closing of Rs. 207.85 on the BSE. The scrip opened at Rs. 207.60 and has touched a high and low of Rs. 213.95 and Rs. 207.00 respectively. So far 37296 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 255.95 on 22-May-2024 and a 52 week low of Rs. 147.20 on 25-Oct-2023. Last one week high and low of the scrip stood at Rs....
Star Cement climbs on incorporating subsidiary in Meghalaya
Price hikes announced; sustainability to be monitored Prices increased by INR10-20/bag across regions * Our channel checks suggest that cement players have increased prices in the range of INR10-20/bag (up ~3-6% as compared to Jul’24 average) across regions, with effect from the third week of Aug’24. As a result, the all-India cement price is up ~4% from the Jul’24 average and ~1% from the 1QFY25 average. * We believe that price hikes are necessary to re...
Cement Sector Update : Price hikes announced; sustainability to be monitored By Motilal Oswal Financial Services Ltd
Organic and inorganic additions by large cement players on the rise The Indian cement industry achieved a decadal high in organic capacity addition during FY24, with nearly 45 million tonnes of new capacity bringing India’s total installed capacity to 641 million tonnes as of March 31, 2024. This is against average of 25-30 millions of average annual capacity addition over the last decade. Looking ahead, an additional 90-100 million tonnes are expected over the next two years, with a...
Capacity Share of Top 4 Cement Players to Rise to 60% by FY26-end By Care Edge Ratings
Ramco Cements Ltd * After being in a corrective phase for past many months, the stock is now showing signs of reversal. * It rebounded from the support of its rising trend line and created a base with above-average volumes suggesting accumulation in the stock. * It has now registered a breakout from the same while reclaiming its 200 day EMA. * We believe the stock to inch higher and hence fresh longs can be created in the mentioned range. Buy&...
Stock of the day : Ramco Cements Ltd For Target Rs. 900 - Religare Broking
Dalmia Bharat is currently trading at Rs. 1918.10, up by 4.25 points or 0.22% from its previous closing of Rs. 1913.85 on the BSE. The scrip opened at Rs. 1904.35 and has touched a high and low of Rs. 1927.70 and Rs. 1899.60 respectively. So far 5688 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 2428.85 on 14-Dec-2023 and a 52 week low of Rs. 1664.20 on 04-Jun-2024. Last one week high and low of the scrip stoo...
Dalmia Bharat rises as its arm inks pact to acquire 26% stake in Truere Surya
Ultratech Cement is currently trading at Rs. 11358.30, up by 21.05 points or 0.19% from its previous closing of Rs. 11337.25 on the BSE. The scrip opened at Rs. 11419.60 and has touched a high and low of Rs. 11440.00 and Rs. 11342.45 respectively. So far 2481 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 12078.15 on 02-Jul-2024 and a 52 week low of Rs. 8050.00 on 04-Oct-2023. Last one week high and low of the...
UltraTech Cement surges on raising $500 million through sustainability-linked loan
India's UltraTech Cement said on Monday it has raised $500 million through a sustainability-linked loan with contributions from six banks. The fundraise marks the Aditya Birla Group-backed cement maker's second sustainability-linked financing, after it raised $400 million in 2021. Sustainability-linked finance is a method through which borrowers meet environmental, social and governance targets while raising funds. UltraTech said its sustainability targets include reduc...
India`s UltraTech Cement raises $500 million via sustainability-linked financing
Average cement price was down ~3% MoM in Jul’24 * Our channel checks suggest that pricing pressure continues for the cement industry, resulting in a ~3% MoM reduction in the all-India average cement price (trade) in Jul’24. Prices declined across regions in the range of ~1-5% MoM, with the highest decline recorded in south (down 5%) followed by west and east (down ~4% each), north (down ~3%), and central India (down ~1%). Further, cement demand has slowed down as rains extended...
Cement Sector Update : Price weakness persists; demand slows down seasonally By Motilal Oswal Financial Services Ltd
Rating agency CRISIL in its latest report has said that the Indian cement industry has lined up a capital expenditure (capex) of around Rs 1.25 lakh crore for FY25 to FY27 to meet the growing demand. During this period, the industry is expected to add 130 million tonne of cement grinding capacity, which is a fifth of the existing capacity. It said the investment will be driven by healthy demand outlook and the quest for market share, and the low capex intensity and strong balance sheets will ...
Indian cement industry lines up capex of around Rs 1.25 lakh crore for FY25 to FY27: CRISIL
An Adani Group-owned company is selling shares worth $500 million in Ambuja Cements, according to a term sheet seen by Reuters on Thursday. The holding company, Holderind Investments, is selling a 2.84% stake in the cement company on Friday, with the floor price of the sale set at 600 rupees per share. The sale is at a 5% discount to Thursday's closing price of 631.8 rupees. Adani Group had a 70.33% stake in Ambuja as of June 30, according to exchange data. Holderind's ...
India`s Adani Group-owned firm to sell stake worth $500 million in Ambuja Cements
Driven by healthy demand outlook and quest for market share, cement makers in the country are projected to undertake capital expenditure (capex) worth Rs 1,25,000 crore over fiscals 2025-2027, a report showed on Thursday. According to a Crisil Ratings analysis of 20 cement makers, accounting for over 80 per cent of the industry’s installed cement grinding capacity (as on March 31), the projected outlay will be 1.8 times the capex during the past three fiscals, yet the cre...
Indian cement makers plan Rs 1.25 lakh crore capex in FY 2025-27
Birla Corporation is currently trading at Rs. 1307.40, up by 24.70 points or 1.93% from its previous closing of Rs. 1282.70 on the BSE. The scrip opened at Rs. 1284.35 and has touched a high and low of Rs. 1308.70 and Rs. 1279.55 respectively. So far 6073 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1801.25 on 27-Feb-2024 and a 52 week low of Rs. 1,116.90 on 28-Aug-2023. Last one week high and low of the scr...
Birla Corporation surges on raising Rs 50 crore via commercial paper
Prism Johnson is currently trading at Rs. 160.40, up by 3.90 points or 2.49% from its previous closing of Rs. 156.50 on the BSE. The scrip opened at Rs. 159.45 and has touched a high and low of Rs. 163.40 and Rs. 157.65 respectively. So far 22815 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 198.90 on 09-Feb-2024 and a 52 week low of Rs. 120.00 on 25-Oct-2023. Last one week high and low of the scrip stood at ...
Prism Johnson jumps on completing modernization of tile production plant
Ambuja Cements is currently trading at Rs. 640.65, up by 18.90 points or 3.04% from its previous closing of Rs. 621.75 on the BSE. The scrip opened at Rs. 628.85 and has touched a high and low of Rs. 641.50 and Rs. 623.45 respectively. So far 50818 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 706.85 on 02-Jul-2024 and a 52 week low of Rs. 404.00 on 01-Nov-2023. Last one week high and low of the scrip stood at...
Ambuja Cements soars on completing acquisition of Penna Cement Industries
India Cements, in which market leader UltraTech Cement is taking majority control, posted a bigger first-quarter adjusted loss on Friday, hurt by subdued demand. The South India-focused company's loss before exceptional items and tax increased to 1.62 billion rupees ($19.3 million) in the quarter, from 989.1 million rupees a year ago. The company said the latest quarter included an exceptional income of 2.41 billion rupees from the sale of a grinding unit. Excluding that, India C...
India Cements posts wider Q1 loss as subdued demand adds to pricing woes
Shree Cement, India's third-largest cement maker by market capitalisation, reported on Tuesday a first-quarter profit that missed estimates due to lower demand and prices. The company said its profit for the quarter ended June 30 stood at 3.18 billion rupees ($37.9 million), missing analysts' estimates of 5.25 billion rupees, per LSEG data. Its revenue from operations fell 2% to 48.35 billion rupees, also missing estimates. For further highlights, click : (Full story) KEY ...
India's Shree Cement Q1 earnings misses estimates
Orient Cement reported a first-quarter profit on Monday that was nearly flat, as muted demand and lower price realisation weighed. The company's net profit for the quarter ended June 30 inched down 0.8% to 367.1 million rupees ($4.34 million) from 370.3 million rupees a year earlier. Revenue from operations also fell 15% to 6.96 billion rupees For further highlights, click : (Full story) KEY CONTEXT General elections and the summer's extreme heat conditions restricted c...
India's Orient Cement posts nearly flat Q1 profit on muted demand, lower realisations
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