May 2, 2017 / 4:12 AM / 3 months ago

BUZZ-India's Ambuja Cement falls on lower-than-expected profit

** Shares of Ambuja Cement Ltd fall as much as 3.2 pct to 237.95 rupees, posting their biggest intraday percentage drop since Dec 12, 2016

** The cement maker posted four-fold rise in quarterly profit on Friday, but fell short of the average analysts' estimate

** Ambuja reported net profit of 2.47 bln rupees ($38.41 million) in the quarter ended March 31, below expectations of 2.62 bln rupees

** "The key negative surprises were lower-than-expected realization and high freight costs," Morgan Stanley analysts wrote, adding that the company's growth will lag the industry's given a lack of capacity additions

** Up to Friday's close, stock up 19.2 pct this year

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below