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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, India's 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.