Ambuja Cements Ltd (ABUJ.NS)
21 May 2013
|Market Cap (Mil.):||Rs290,491.31|
|Shares Outstanding (Mil.):||1,543.11|
May 17 - * Shares in India's cement companies such as Ambuja Cements Ltd gain on hopes a regulatory tribunal may rule in their favour as they challenge price collusions charges from the Competition Commission of India. * A judgement on the case pitting cement companies and CCI is expected later in the day, as per Competition Appellate Tribunal's website. * Eleven of the country's biggest cement companies were handed a record fine by the CCI in June, which found them guilty of colluding
* Ambuja Cements Ltd could miss January-March operational earnings consensus forecast, according to Thomson Reuters StarMine data. * StarMine's SmartEstimates, which places greater emphasis on forecasts by top-rated analysts, shows Ambuja could report an operating profit of 6.09 billion rupees for the quarter, compared with mean consensus estimate of 6.31 billion rupees. * Shares in Ambuja are down 1 percent at 0558 GMT ahead of its earnings results on Friday. (abhishek.vishnoi@thomsonreut
Reuters Market Eye - Credit Suisse upgrades Ambuja Cements to "outperform" from "neutral", citing the company's exposure to northern India, a region where the investment bank says low new supply and higher existing capacity are keeping cement prices high.
* Credit Suisse upgrades Ambuja Cements Ltd to "outperform" from "neutral", citing the company's exposure to northern India, a region where the investment bank says low new supply and higher existing capacity are keeping cement prices high. * Credit Suisse also mentions "more compelling" valuations and improving recovery in margins and demand growth for the sector as reasons for its upgrade in a report on Tuesday. * Ambuja Cements are up 2.5 percent as of 0823 GMT. (subhadip.sircar@thomsonreut
Reuters Market Eye - Shares in Ambuja Cements Ltd gain 1 percent after CLSA upgraded the stock to "buy" from "outperform", citing 'reasonable' valuations following recent correction.
* Shares in Ambuja Cements Ltd gain 1.5 percent after CLSA upgraded the stock to "buy" from "outperform", citing 'reasonable' valuations following recent correction. * CLSA says the stock now trades at 15 times its one-year forward earnings, which is broadly in line with the five-year average. * Cement stocks have been under pressure for the last few months following the negative news flow on weak industry demand growth while the increase in royalty by Holcim Ltd further impacted Ambuja and ACC
Reuters Market Eye - Shares of ACC Ltd and Ambuja Cements Ltd gain after shareholders at each of the cement makers separately approved paying technology fees to controlling stakeholder Holcim Ltd of 1 percent of net annual sales.
* Shares of ACC Ltd and Ambuja Cements Ltd gain after shareholders at each of the cement makers separately approved paying technology fees to controlling stakeholder Holcim Ltd of 1 percent of net annual sales. * The approvals remove an uncertainty that had been weighing on the Indian companies, as some investors had feared a protracted process over a decision that had been unpopular with shareholders. * ACC gains 2.4 percent while Ambuja Cements is up 0.5 percent. * Holcim holds a 50.3 perce
MUMBAI, Feb 8 - Indian shares fell on Friday for a seventh consecutive session to the lowest close this year as Mahindra & Mahindra as well as cement makers such as Ambuja and ACC retreated after earnings missed estimates. Mahindra and Mahindra Ltd shares fell 1.3 percent, Ambuja Cements Ltd dropped 5.5 percent, while ACC Ltd lost 3.7 percent. The BSE index provisionally fell 0.58 percent, falling to its lowest close since Dec. 31, 2012. The seven-session losing streak was th
* Shares in Indian cement makers fall after October-December earnings fail to impress investors. * Ambuja Cements' net profit fell by 29.8 percent to 2.12 billion rupees, while ACC Ltd on Thursday reported a 49 percent fall in net profit. * Weak results are dashing some of last month's optimism that cement prices would rise if capacity lags demand. * Deutsche Bank downgraded ACC rating to "hold" from "buy", saying October-December earnings had come in below its forecast and noting lower dema