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Life Insurance Corporation of India

Moneycontrol

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Kotak Mutual Fund
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SBI

Ambuja Cements: September quarter results in line, outlook muted

October 21, 2019 / 08:22 AM IST
Ambuja Cements: September quarter results in line, outlook muted

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The September quarter results of Ambuja Cements (CMP: Rs 208; Market Cap: Rs 41,232 crore) were in line with expectations. Revenues for India’s third largest cement manufacturer changed little from a year ago, but profitability was strong as operating margins expanded. Quarter result highlights Ambuja’s reported revenues of Rs 2,626 crore in Q3 CY19 were slightly higher compared to last year. Revenue growth was led by higher realisations as cement volumes shrank for the second successive quarter. Volumes declined 4 percent...

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