Profitability, declining costs are positives, but demand revival key for any upside
From IMA planning to withdraw services to Kia Motors launching its 'Made In India' car, Business Standard brings you the top events that are likely to make headlines today
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
Analysts on average were expecting the country's largest cement manufacturer to post a profit of Rs 5.58 billion
UltraTech currently has 19% market share with Shree Cement commanding 22% of the market
India Cements, Sanghi Industries, Birla Corporation, Andhra Cements, Orient Cement, NCL Industries and Mangalam Cement were down 30% to 40% thus far in 2018.
India Cements, Shree Cement, CG Power, Cummins India, Inox Wind, JK Lakshmi Cement, Kirloskar Oil Engines and MRPL were among 19 stocks from the S&P BSE 500 index hitting their respective 52-week lows
Bilateral agreement process and valuation on the radar
However, SC's approval needed for takeover