INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Most cement stocks were trading in green in morning trade on Tuesday, a day after the homegrown cement maker ACC Cement posted an
almost flat set of earnings for the quarter ending June, 2018.
Many brokerages, including CLSA and HSBC, are positive on ACC, terming the
earnings as ahead of consensus estimates
The profit of the company increased to Rs 328 crore from Rs 326 crore during the same period last year
Revenue from operations slid to Rs 3,768 crore from Rs 3,818 crore last year even as volume registered a growth of 7 per cent
Panyam Cements Mineral Industries (up 13.80 per cent), Saurashtra Cement (up 13.43 per cent), ACC (up 12.84 per cent), Shiva Cement (up
11.65 per cent), Udaipur Cement Works Ltd (up 11.63 per cent), Kakatiya Cements Sugar Industries (up 11.53 per cent) and Orient Cement (up
10.96 per cent) surged over 10 per cent.
India Cements (up 9.86 per cent), NCL Industries (up 8.65 per cent) and Birla Corporation (up 8.15
per cent) too were witnessing strong gains
Equity benchmarks were in the positive territory on gains in metal, auto and bank stocks.
The NSE Nifty50 index was trading 50 points up at
11,135, while the BSE Sensex was up 139 points at 36,858 around 11:15 am.
Infosys, Maruti Suzuki and ICICI Bank were the key drivers of the
