There has been a sharp slowdown in revenue and profit growth in the cement sector in recent quarters but it is yet to show in the share prices of cement companies. On the contrary, there has been a rally in cement stocks and a re-rating of their equity valuation in the past three years despite an earnings contraction during the period.
Posts tagged Rediff
What Does Lokesh Want From Satya Nadella? (30-10-2024)
AP IT Minister meets Microsoft CEO for guidance and support in advancing IT, AI, and skill development in Andhra Pradesh.
Automakers On Luxe Top Gear To Woo Buyers (30-10-2024)
Armed with swanky showrooms, decked with plush fixtures, and offering indulgences such as high-end perfumes and customisable accessories, BMW, Mercedes, Audi are rolling out the red carpet for the well-heeled.
How much gold do Indian households own? (29-10-2024)
The Reserve Bank of India (RBI) added another 102 metric tonnes to the domestically held gold in the April-September period, as per a disclosure made on Tuesday. The overall quantity of the precious metal stored in local safes stood at 510.46 metric tonnes as of September 30, which was up from over 408 metric tonnes as on March 31, 2024. The central bank said it added another 32 metric tonnes of gold reserves in the six-month period to take the overall tonnage to 854.73 metric tonnes, as per the half yearly report on management of foreign exchange reserves.
Record high price of gold mutes Dhanteras sales (29-10-2024)
Gold sales on Dhanteras are estimated to drop 10 per cent in volume terms year-on-year on sharp 33 per cent annual rise in rates of the yellow metal, according to industry players. Since Dhanteras — the most auspicious day in the Hindu calendar for buying items ranging from precious metals to utensils — is celebrated on two days till 1.11 pm on Wednesday, jewellers are expecting more footfalls in both online and offline stores.
Maruti Q2 profit dips 18%; revenue at Rs 37,449 cr (29-10-2024)
Maruti Suzuki India on Tuesday reported an 18 per cent year-on-year dip in consolidated net profit at Rs 3,102 crore for the second quarter ended September hit by the withdrawal of indexation benefit and change in the tax rate on long term capital gains on debt mutual funds. The country’s largest carmaker had posted a net profit of Rs 3,786 crore in the July-September quarter of last fiscal.
Sensex, Nifty rise on buying in bank stocks (29-10-2024)
From the 30 Sensex pack, State Bank of India jumped 5 per cent, followed by ICICI Bank, Bajaj Finserv, NTPC, Adani Ports, Bajaj Finance and Larsen and Toubro. In contrast, Maruti, Tata Motors, Sun Pharma, Bharti Airtel, IndusInd Bank and Mahindra and Mahindra were among the laggards.
Demand under stress; festivals may boost consumption (29-10-2024)
Days before Diwali, the monthly economic review by the finance ministry has highlighted moderation in urban demand, softening consumer sentiments and limited footfall as areas that need to be watched. In its review, released on Monday, the ministry also noted the early signs of artificial intelligence displacing workers, as described in anecdotal reports. The commentary from several large consumer goods companies, including Nestlé India, Hindustan Unilever, and ITC, in their recent quarterly earnings, has been around a sluggish urban demand. Rural consumption, however, has mostly seen a revival, the companies pointed out.
DIIs pour Rs 4.6 trn in equities during Samvat 2080 (29-10-2024)
Domestic institutional investors (DIIs) have infused a record Rs 4.6 trillion into Indian equities over the course of Samvat 2080, marking the highest net annual investment in any Samvat to date. This robust domestic inflow has effectively counterbalanced the comparatively subdued investments from foreign portfolio investors (FPIs), who contributed a net Rs 90,956 crore within the same timeframe. Against this backdrop, the Nifty 50 and BSE Sensex indices are on track to achieve their best performance in three Samvat years, despite recent market corrections.
Lower production cost may support HZL margins (29-10-2024)
During the September quarter (Q2FY25), Hindustan Zinc’s (HZL’s) revenue was reported at Rs 8,300 crore (up 22 per cent year-on-year or Y-o-Y, and 2 per cent quarter-on-quarter or Q-o-Q), marginally above consensus. Operating profit stood at Rs 4,100 crore (up 31 per cent Y-o-Y and 5 per cent Q-o-Q), also a small beat. The operating profit margin was 50 per cent, up from 48.5 per cent in Q1FY25.