India Cements slumps on wider Q1 loss

India Cements

07/08/2023 08:27

** Shares of India Cements  ICMN.NS  fall as much as 4.6% to
214.5 rupees
    ** Co reports wider Q1 loss before exceptional items as
revenue falls and input costs rise
    ** Around 4.9 mln shares change hands by 12:41 p.m. IST,
1.6x their 30-day avg volume
    ** Avg rating of six analysts close to equivalent of 'sell;'
median PT is 140 rupees - Refinitiv data
    ** At current levels, stock largely unchanged YTD vs rival
Ramco Cements'  TRCE.NS  ~25% YTD rise

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))