Preview: India's UltraTech Cement rises ahead of Q3 results

ACC

23/01/2025 06:19

** Shares of UltraTech Cement  ULTC.NS  rise 2.3% to 10,939
rupees ahead of Q3 results later in the day
    ** Analysts, on avg, expect cement maker to report ~22% y/y
drop in Q3 consol profit - LSEG data 
    ** Industry-wide demand continued to remain modest due to
subdued construction activity and lack of government projects -
PL Capital 
    ** Adds, cement prices improved sequentially but could not
be sustained across the country due to delays in projects 
    ** Cement prices have steadily picked up since Oct but
remain lower than year-ago prices, analysts at Elara and Centrum
say 
    ** Peer Dalmia Bharat  DALB.NS  posted drop in Q3 results,
while ACC  ACC.NS , Ambuja Cements  ABUJ.NS  is set to report
results later this month
    ** ULTC, ACC, ABUJ rated "buy" on avg, DALB rated "hold"-
LSEG data 
    ** ULTC, ABUJ gained ~9%, ~3% in 2024, respectively, ACC and
DALB lost 7% and 22% 


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))