₹189.55 6.3 3.4%
Last Trade - 09/04/21
Market Cap | £573.6m |
Enterprise Value | £856.6m |
Revenue | £411.5m |
Position in Universe | 381st / 3106 |
** Shares of Indian cement makers Ambuja Cements Ltd ABUJ.NS , Ramco Cements Ltd TRCE.NS , India Cements Ltd ICMN.NS and Dalmia Bharat Ltd ODIH.NS climb between 2.57 and 8.42 pct ** The rally is driven by optimism after strong quarterly numbers and volume growth at larger rival UltraTech Cement, said an analyst with a local brokerage who did not wish to be named ** "This is a sort of rerating" - analyst ** The country's largest cement maker UltraTech Cement Ltd ULTC.NS on Wednesday reported March-quarter net profit of 10.17 bln rupees - more than double from last year and beating analysts' consensus forecast of 7.79 bln rupees urn:newsml:reuters.com:*:nFWN2260E3 ** This is the company's first rise in quarterly profit since June-qtr 2017; Q4 domestic sales volumes jumped 16 pct ** UltraTech shares up 6.6 pct to record high, see best day since Nov. 2; clock trading volumes of 7x 30-day average ** HSBC attributes UltraTech's earnings beat to better-than-expected cost efficiencies; raises TP to 3,200 rupees from 3,140 rupees ** Shares of Dalmia Bharat climb 8.4 pct to seven-week high, while India Cements jumps 6.2 pct ((Reuters Messaging: chris.thomas.thomsonreuters.com@reuters.net))