Newsfilter article unlocker

Enter Newsfilter article ID in the field below.
Example: https://newsfilter.io/articles/39be1bef03e66cdc886c08a2a6319c47

Retrieved article
Jan 27 - Indian cement maker ACC (ACC.NS), opens new tab reported a third-quarter profit surge on Monday, as strong sales volume growth cushioned the impact of weak prices.
The Adani group firm's profit after tax more than doubled on-year to 10.89 billion rupees ($126.10 million) for the three months to Dec. 31.
Revenue rose 7% to 51.76 billion rupees.
For further earnings highlights, click
KEY CONTEXT
ACC posted a 21% growth in volumes in a seasonally-weak quarter, when lack of labour hits construction activities, higher than the as much as 16% growth estimated by analysts from four brokerages.
The firm said it is expecting a rebound in cement demand in the ongoing quarter.
ACC's volumes likely benefitted from market share gains of its parent as a result of the Adani conglomerate's dealmaking spree.
Last week, market leader UltraTech Cement (ULTC.NS), opens new tab forecast that the demand and price of the construction material are improving. The other Adani-owned cement company, Ambuja (ABUJ.NS), opens new tab, will report later this week.
PEER COMPARISON
Valuation (next 12 months)
Estimates (next 12 months)
Analysts' sentiment
RIC
PE
EV/EBITDA
Revenue growth (%)
Profit growth (%)
Mean rating*
No. of analysts
Stock to price target**
Div yield (%)
ACC
-
9.75
8.15
24.77
Buy
18
0.79
0.36
Ambuja Cements
40.56
15.47
18.55
30.41
Buy
31
0.85
0.36
UltraTech Cement
37.20
20.05
16.63
31.95
Buy
37
0.91
0.62
Shree Cement
49.94
18.77
8.02
18.92
Hold
17
0.99
0.41
* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell
** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT
OCTOBER-DECEMBER STOCK PERFORMANCE
-- All data from LSEG
-- $1 = 86.3710 Indian rupees

Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.

Reporting by Hritam Mukherjee in Bengaluru; Editing by Mrigank Dhaniwala

Our Standards: The Thomson Reuters Trust Principles., opens new tab


...