Page 15 - Tech Cement News Today

Analysts predict a YoY revenue increase of up to 15% to Rs 15,769.40 crore, with a 60% YoY surge in net profit to Rs 1,334 crore based on 10 brokerage estimates from Moneycontrol.

With another quarter of steady growth in demand, cement companies are expected to report strong year-on-year (Y-o-Y) growth in earnings, according to analysts. The September quarter (Q2FY24) also witnessed a resumption of price hikes in certain markets. UltraTech Cement, Indias largest cement producer, reported a 15 per cent Y-o-Y increase in cement sales in the country for the quarter under review.

Sanjiv Bhasin of IIFL Securities, believes that the wealth effect is evident in capital goods and real estate, with companies like DLF and Godrej reaching new highs. He also highlights the strong performance of the real estate sector, particularly in companies like Purvankara and Brigade. Bhasin recommends cement stocks such as UltraTech, ACC, Ambuja, and Dalmia Bharat, as he believes they are bound to outperform due to price increases being passed on.

Canadian investment firm Alberta Investment Management Corporation (Aimco) and a few other investors have expressed interest to pick up a significant minority stake in Aditya Birla Groups renewable energy business, two people aware of the development told ET.

India VIX was down by 2.53% from 11.27 to 10.98 levels on Wednesday. Volatility cooled off and paved the way for the bulls to strengthen in the market.

Morgan Stanley has given an overweight rating on the cement-makers stock. Seeing an upside potential for the stock from current price levels, it has set the target price at Rs 9,300.

United States Lime & Minerals (NASDAQ:USLM – Get Free Report) and UltraTech Cement (OTCMKTS:UCLQF – Get Free Report) are both construction companies, but which is the better business? We will contrast the two businesses based on the strength of their valuation, earnings, profitability, dividends, analyst recommendations, risk and institutional ownership. Dividends United States Lime & […]

While Nifty50 scaled a new high of 20,167.65 on the intraday basis before settling at 20,103.10, up by 33.10 points or 0.16%, S&P BSE Sensex climbed to 67,771.05.

Robust domestic macroeconomic data added to the positive momentum

New Delhi: Equity benchmark indices Sensex and Nifty closed higher for the third straight day on Tuesday on gains in market heavyweights ITC, Reliance Industries and Infosys amid a bearish trend in global equities. Besides, robust domestic macroeconomic data added to the positive momentum, traders said. The BSE benchmark index climbed 152.12 points or 0.23 per cent to settle at 65,780.26. During the day, it gained 203.56 points or 0.31 per cent to 65,831.70. The Nifty rose 46.10 points or 0.24 p...