According to the average estimate of 12 brokerages, the company's net profit is expected at Rs 1,976.58 crore, marking a 23 percent increase on-year, and a 15 percent sequential rise.
Amid consolidation in the cement industry and strong growth, UltraTech has faced a number of analyst downgrades. However, the stock price has belied those downgrades and recorded decent growth.
The monsoon rains, which run from June to September, hit the southern coast last week, and are exacted to make an early arrival in other parts of the country. This is likely to hurt construction activities.
Emkay Global Financial Services has come out with its report on cement sector. The research firm has remained negative on ACC while retained hold rating on Ambuja Cements & Ultratech Cements and remained positive on Grasim Industries.
Andhra Pradesh High Court, Bombay High Court, Punjab and Haryana High Court and now the Bangalore bench of the CESTAT have called it arbitrary, unreasonable and illegal.
In an interview to CNBC-TV18, SP Tulsian of sptulsian.com talked about the stock which has been under pressure is GMR and Cinemax promoters who sold stake to PVR for Rs 395 crore. He believes that the promoters of Cinemax have been able to extract very good valuations. With regards to FDI he said voting is positive news to break the lock-jam.
UltraTech Cements and Lupin will replace SAIL and Sterlite in Nifty from September 28, 2012, reports CNBC-TV18. UltraTech Cement touched a 52-week high of Rs 1,731. At 09:16 hrs the share was quoting at Rs 1,723.00, up Rs 7.10, or 0.41%.
Jaiprakash Associates, which has been indicted by competition watchdog CCI along with 10 other cement makers for forming price cartel, today said such allegations are far from reality, as market forces determine the price of the construction material.
Holcim, which has a controlling stake in ACC and Ambuja Cements, today said it would challenge the order of competition watchdog CCI which imposed penalty for forming price cartel.
Buy Apollo Tyres around Rs 74-75, says SP Tulsian, sptulsian.com.
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Gopinath Natarajan, EVP- IIFL PReMIA, IIFL shares his view on cement space.