Shree Cement says will take a cut of Rs 5 per bag and other companies are expected to decide soon.
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
India's largest firm in the sector seeks more time from Switzerland's Holcim to make a bid for Ultratech and ACC.
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
Reports suggest LTI & Mindtree could be eyeing a merger. Besides, the acquisition race for Holcim's India assets is heating up Ultratech Cement reportedly throwing in its hat in the ring
Ambuja Cement is exhibits a positive bias, and is likely to further gains on follow-up buying; whereas other cement stocks need to overcome major hurdles.
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 shares have been acquired at a cost of USD 101.10 million, it said. This together with the existing shareholding, will result in UCMEIL holding 29.79 per cent of RAKWCT's equity share capital
Share price of major companies are up 10-18% in the last one month, but analysts target prices suggest more upsides ahead
Nifty 50 is back to 18,000, still half of Nifty 500 stocks trade below 200-DMA
Going ahead, charts indicate likely revival in investor sentiment with further uptick in prices.
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
Apart from higher coal/petcoke prices, the recent increase in crude prices/ocean freight rates may further put pressure on operating costs for the cement industry.
Ambuja Cements, The Ramco Cements look weak on charts, while UltraTech Cement seems the best bet in the sector.
Infra related stocks can easily see a jump of 10 per cent in quick time
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.
Bajaj Finance, ICICI Prudential Life, Just Dial, Jyoti Structures, LT Technology Services and Tata Elxsi are scheduled to announce December quarter results today.
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
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