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INDIACEM - India Cements News Story

₹189.55 6.3  3.4%

Last Trade - 09/04/21

Sector
Basic Materials
Size
Mid Cap
Market Cap £573.6m
Enterprise Value £856.6m
Revenue £411.5m
Position in Universe 381st / 3106

BUZZ-Indian cement stocks jump aboard UltraTech rally

Thu 25th April, 2019 10:55am
** 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))
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