Tag: ultratech cement

The Indian benchmark indices were deep in the red as they ended a streak of four-day gains with sharp losses today(6th January 2022). The BSE Sensex was 680 points lower at 59,542, and the NSE Nifty was 17,730, lower by 195 points. The two indices were down over 1 percent each. In tandem with this, the broader markets were also negative but were seen trimming losses. The BSE MidCap and SmallCap indices were down 0.6 and 0.4 percent, as compared to the 1 percent fall in the benchmarks. Sectoral rotation in favour of financials, particularly leading banks, is a likely scenario in 2022. There are market signals and macro triggers favouring financials. So, market corrections may be used to buy high-quality financials and large-cap IT, he said. Read more

Shares of UltraTech Cement moved higher by 9 per cent to Rs 4,210 on the BSE on Tuesday after the company reported better-than-expected operational performance in the April-June quarter of FY21 (Q1FY21). It reported a 36.4 per cent year-on-year (YoY) fall in net profit at Rs 806 crore compared with Rs 1,267 crore in the corresponding quarter last year due to one-time loss of Rs 157.4 crore and lockdown impact on revenue but beat analysts' estimates pegged at Rs 480 crore for the quarter. Revenue for the quarter fell 32.81 per cent YoY to Rs 7,290 crore compared with Rs 10,851 crore in the same quarter last year. The company doubled other income to Rs 278.8 crore against Rs 134.7 crore YoY, which supported profitability. The company’s consolidated net sales were at Rs 7,563 crore against Rs 11,229 crore over the corresponding period of the previous year. Read more