Charts of steel stocks signal further downside, indicating a fall up to 20 per cent in select shares; cement counters indicate a wait-and-watch approach
Here are the top Business Standard headlines on Friday
Here are the top Business Standard headlines on Thursday
UltraTech outlines divestiture details that would meet the norms set by Competition Commission of India
Ebitda declined 16% YoY to Rs 3,165 cr, while Ebitda margins stood at 19.5% in Q4 versus 25.6% last year, as energy costs swelled in the period under review
Aditya Birla group firm UltraTech Cement Ltd on Friday reported an increase of 47.32 per cent in its consolidated net profit at Rs 2,613.75 crore in the fourth quarter ended March 2022
According to the technical analyst from Anand Rathi, Welcorp can rally towards Rs 240, whereas UltraTech can slide to Rs 6,400 in the coming weeks.
The block is situated in Tehsil Chittapur of Kalburgi district in Karnataka
Analysts believe current input cost headwinds are transitory as likely price hikes by companies will help aid margin pressures.
Despite these ongoing cost related challenges, demand outlook is expected to stay healthy from long-term perspective
Sun Pharma the biggest gainer among Sensex firms with a jump of 3.99 per cent, followed by TCS, NTPC, Wipro, Tech Mahindra, Dr Reddy's, UltraTech Cement and Infosys
The company is hopeful that cost inflation has peaked out and, with demand picking up, all of this should bolster volume growth and lead to margin rebound Q4 onwards.
As per Bloomberg estimates, the company's top line was seen at Rs 12,985 crore, while the bottom line was expected to be at Rs 1,494 crore in quarter ended December
Business Standard brings you the top headlines on Monday
In the broader market, the BSE MidCap and SmallCap indices outperformed the benchmarks and ended up to 0.6 per cent higher.
Revenue from operations rose by 5.89% to Rs 12,984.93 crore during the quarter under review
Mindtree dips 4% on profit booking after December quarter results; Aurobindo Pharma ends 5% down on US FDA warning letter for unit; India Cements gains 4%; hits highest level since January 2008
All the major cement stocks are gearing up for next upside, check the near term support and likely targets here
The company is witnessing strong demand from various infrastructure constructions such as highway construction, railways, metro rail, irrigation projects, airports and urban housing market
Q2FY22 is generally a weak quarter for cement makers due to monsoon, but the quarter under preview has also been affected by rising coal and pet coke prices and a transporters' strike