The renewed investor interest in the cement shares came on the back of reports that cement dealers have initiated price hikes since the start of December
While FY25 is seeing slow growth and subdued govt spending, CareEdge maintains a long-term outlook aligned with India's broader growth strategy with housing, continuing to be primary driver of cement.
On November 18, Ramco Industries had bought 4,66,600 shares of Ramco Cements which were worth Rs 41.95 crore
Company's net profit after tax for its standalone business, which comprises its cement segment, dropped to Rs 25.58 crore ($3 million) for the quarter ended Sept. 30 from Rs 101 crore a year earlier
Over the past four years, City Union Bank share prices have largely consolidated within a defined range.
The Ramco Cements Ltd on Thursday reported a 50.82 per cent decline in its consolidated net profit to Rs 36.57 crore in the June 2024 quarter due to a fall in cement prices and weak demand amid the Lok Sabha polls. The company posted a net profit of Rs 74.36 crore during the April-June quarter of the previous fiscal, The Ramco Cements said in a regulatory filing. Its revenue from operations fell 6.81 per cent to Rs 2,093.55 crore during the quarter under review against Rs 2,246.66 crore a year ago. The decline in net revenue for the Q1 FY25 is "due to drop in cement prices by around 8 per cent", a company's earning statement said. Moreover, the cost of raw materials "increased by 9 per cent YoY (Year-on-Year) from Rs 911 to Rs 990 per tonne for the current year due to inflationary impact on procurement cost", it added. Its total expenses in the June quarter were Rs 2,054.11 crore, down 4.3 per cent. "During Q1 FY25, the sale volume is 4.36 million tonnes, compared to 4.30 million
In the last four days, one out of every 3 futures & options stocks has gained more than 10 per cent as the Nifty surged 6.3 per cent in the post Lok Sabha 2024 verdict cheer.
At 6:53 AM, GIFT Nifty futures were trading down 13 points at 22,644.50 against Nifty futures
Standalone net profit after tax fell over 20% year-on-year to Rs 121 crore ($14.5 million) during January-March, missing analysts' expectations of Rs 127 crore
Cement stocks investment strategy: Investors with a long-term horizon may strategically accumulate shares of fundamentally strong cement companies
Sales volumes grew 38%, supported by pressurized prices in southern India, from where Ramco derived 81% of its total volumes in the reported quarter
The company will also transfer a mining lease granted by the government over to Ramco Cements for an area of 663.46 hectares
While long term prospects of profitability look promising, the short term outlook is expected to improve from Q2FY24, Ramco Cements said.
The company's sale of products rose by 50.7 per cent to Rs 2,559 crore for the March quarter as compared to Rs 1,698 crore in the year-ago period
Except Ambuja Cements, Ultratech Cement, Ramco Cements, and India Cements need to surpass crucial key levels to lead to a rally ahead
The company's Ebitda declined 52 per cent YoY at Rs 193 crore, mainly due to sharp increase in fuel price and weak cement prices
Its cement capacity has gone up to to 21 mtpa with clinker capacity of 14 mtpa
Stock to watch today: Nykaa's board meeting will be held on October, 3 to consider and approve the issuance of bonus shares
Q2FY22 is generally a weak quarter for cement makers due to monsoon, but the quarter under preview has also been affected by rising coal and pet coke prices and a transporters' strike
The Ramco Cements Ltd on Tuesday reported a 46.10 per cent increase in consolidated net profit at Rs 171.67 crore for the quarter ended June, helped by growth in sales