UltraTech Cement shares down on earnings
Reuters Market Eye - Shares in UltraTech Cement(ULTC.NS) fell 2 percent after the cement maker reported a 3 percent fall in October-December net profit at 6 billion rupees on Saturday.
UltraTech continues to struggle with capacity utilization and no volume growth, Kotak Securities said in a note, even as market consensus is for higher volumes growth from expanded capacities in the sector by fiscal 2014.
Other cement players fall: ACC Ltd (ACC.NS) declines 1.35 percent, Ambuja Cements Ltd (ABUJ.NS) retreats 2 percent.
Cement makers have been hit by concerns about rising operating costs as the government last week said bulk buyers would pay market rates for diesel.
(Reporting by Manoj Dharra)
- Tweet this
- Share this
- Digg this
- Miss America defends student suspended for asking her to prom
- India passes halfway mark in election with BJP gaining strength
- UPDATE 3-Soccer-English premier league results and standings
- Pope presides at Vatican Mass leading Catholics into Easter
- Calls to U.S. poison centers involving e-cigarettes jump - CDC
Nitin Gadkari, former president of the Bharatiya Janata Party and a member of the BJP’s manifesto committee, speaks to Reuters. Here are the edited excerpts. Full Article
Turning smog into jewels - a Dutch designer's solution to Beijing's pollution. Video