Post consolidation of Century and Binani Cement assets, new acquisitions at stretched valuations may not bode well, say analysts
Amid the gloomy GDP print; however, what is noteworthy is that the government spending rose sharply to 15.6 per cent during the quarter, as against 8.8 per cent in 1QFY20.
With growth having shrunk 0.5 per cent year-on-year during FY20 so far, as per latest estimates, price recovery seems distant
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UltraTech Cement had a revenue of Rs 35,703.50 crore in 2018-19 financial year
The last part of the series on the Insolvency and Bankruptcy Code takes a look at how Ultratech's acquisition of Binani helped it become North India's biggest cement firm by capacity
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Vodafone Idea now has a m-cap of Rs 19,454 crore against Rs 39.942 crore at end of last month
UltraTech's stock was trading weak on Wednesday initially, though it comfortably closed in the green with gains of about 5 per cent, while ACC stock, in contrast, closed over 3 per cent lower
With improving per tonne profitability, Shree Cement scored over UltraTech
Cement maker reports 18% jump in December quarter sales
Besides pricing pressure, muted demand from the trade segment and recent acquisitions could hit margins
"We have received the full payment from UltraTech and no amount is due from Binani Cement now", a lead lender to Binani Cement said
NCLAT's decision marks an end to the second phase of prolonged litigations which has marred the Binani Cement resolution case for 16 months now
The stock hit a 52-week low of Rs 3,488, down 3.3%, extending its Fridays 3.2% decline on the BSE.
Realisation improvement remains crucial for profitability, which is expected post festive season
Company's revenue from operations jumped 20.9% to Rs 77.71 bn while total expenses rose 23.5% in the quarter ended September 30, 2018
Aditya Birla Group firm UltraTech has received an approval from Competition Commission for the acquisition of the cement business of Century Textiles and Industries
Despite strong volume growth, cost increases outweighed realisation improvement, hurting profits