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Money Jan 21, 2013

UltraTech Cement shares down 2% afer fall in earnings

Shares in UltraTech Cement fell 2 percent after the cement maker reported a 3 percent fall in October-December net profit at Rs 600 crore on Saturday.

UltraTech continues to struggle with capacity utilization and no volume growth, Kotak Securities said in a note, even as market consensus is for higher volumes growth from expanded capacities in the sector by fiscal 2014.

Other cement players fall: ACC declines 1.35 percent, Ambuja Cements retreats 2 percent. Reuters

Other cement players fall: ACC declines 1.35 percent, Ambuja Cements retreats 2 percent.

Cement makers have been hit by concerns about rising operating costs as the government last week said bulk buyers would pay market rates for diesel.

Reuters

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