The present scenario hints a strong momentum in the cement stocks, wherein shares of ACC, Grasim and UltraTech Cement are claiming new uncharted territory with firm volumes
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
Here are the top news stories of the day
In the past one month, shares of Dalmia Bharat, JK Lakshmi Cement, Ramco Cement and Ambuja Cement have rallied between 11 per cent and 19 per cent
Cement is among the few sectors witnessing strong demand and pricing power
Following around 10 per cent YoY growth in volumes in Q3FY21, Motilal Oswal Securities expects the sector's volumes to grow around 20 per cent YoY in Q4FY21
Launched in Mumbai and Hyderabad, ECOPact range will be rolled out across India in a phased manner in the next few weeks
The company, which follows the January-December financial year cycle, had posted a net profit of Rs 273.28 crore in the corresponding quarter a year ago, ACC said in a BSE filing
Ambuja, ACC also put up good showing, which has led to a significant earnings upgrade for the trio
Ipca Labs has tripled in the last one year from the lows of Rs 817 and continues to hold the same strength and momentum. Charts indicate more headroom from the current levels
The OFSS counter is heading towards Rs 3,600-mark as per the weekly chart.
The robust Q3 operating performance that was ahead of expectations is driving upgrades in earnings and target prices
Valuation of 7.6x its CY21 EV/Ebitda and EV/tonne of $79 appears attractive
Improvement in per tonne profitability, despite sharp fall in volumes due to lockdown, may lead to earnings upgrade
The company, which follows a January-December financial year, had posted a profit of Rs 455.68 crore in the same quarter a year ago
TVS Motor's stock has failed to surpass the resistance zone of the long-term moving average on the daily chart
Expansions, strong balance sheet and attractive valuations are supportive at a time when demand outlook is uncertain
Despite the lockdown impacting volumes, lower costs drove earnings and beat expectations
The company, which follows January-December financial year, had posted a profit of Rs 346.02 crore in the same quarter a year ago, ACC said in a BSE filing
Against ACC's total installed capacity of 33.41 mtpa, Shree Cement's current installed capacity stands at 41.90 mtpa