Reuters logo
UltraTech Cement shares down on earnings
January 21, 2013 / 6:32 AM / 5 years ago

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.

A labourer carries a cement bag before loading it onto a truck at a railway goods yard on the outskirts of Ahmedabad June 1, 2012. REUTERS/Amit Dave/Files

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

Our Standards:The Thomson Reuters Trust Principles.
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