MGL witnessed a fresh breakout from the consolidation range on June 15 and made new record highs as well
Sales by volume drop 8%, company cites extended monsoon in South for lower offtake
The huge thrust on infrastructure spending by the government in the Budget 2021-22 bodes well for construction materials such as cement and steel
Price stability, better sales of flagship and premium products in trade segment improve margins
Ramco Cements Ltd on Friday said it has commenced operations at its new cement grinding unit in Odisha, set up at a cost of about Rs 710 crore.
The company said the progress of the ongoing capex programme has been delayed due to Covid-19.
Revenue dropped 9.2 per cent to Rs 1,401.27 crore from Rs 1,543.47 crore
Expects Rs 3,530 crore expansion programme to be completed in near future
Currently, Ramo Cements' stock is hovering in a range, after a sharp up move, offering fresh buying opportunity to those who missed the chance earlier
Amid the gloomy GDP print; however, what is noteworthy is that the government spending rose sharply to 15.6 per cent during the quarter, as against 8.8 per cent in 1QFY20.
Weekly Technical Recommendations by Religare Broking Ltd.
Total income up 11% to Rs 1,332 cr; exports grow by 39%
The company has so far incurred Rs 1,430 crore for the capacity expansion programme
The company achieved the highest ever quarterly EBITDA of Rs 367 crore during Q1FY20 compared to Rs 255.20 crore, a year ago
The Ramco Cements Ltd had reported a 9% drop in its net profit for the year ended March 31, 2019 to Rs 505.89 cr as compared to Rs 555.66 cr in the previous fiscal
Company lines up for Rs 34.30 billion in AP, Odhisha and West Bengal
Firm to increase capacity to 7.1 mtpa through satellite grinding plants
Company plans to invest Rs 1,095 cr in satellite grinding projects
Doorstep customer service is also at the core of Ramco's expansion strategy
The company had posted a net profit of Rs 182 crore in the January-March period a year-ago