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Price wars led by increasing capacities and aggressive competition may mar prospects
Shree Cement is the first company to purchase cow dung that the state government has been procuring under its scheme of the Godhan Nyay Yojana
The Kolkata-based company posted a standalone profit of 2.77 billion Indian rupees ($33.5 million) for the quarter ended Dec. 31, compared with 4.92 billion rupees a year earlier
The company will offer a yield of 6.78% on this issue, and has received commitments worth around 1 billion rupees ($12.29 million), the bankers said
Shree Cement adding 9 mtpa of capacity in the next 15 months, HM Bangur says; total cement production capacity of company to jump to 56.4 mtpa...
Brokerage says IT services firms score over cement on key parameters such as return on average capital employed, free cash flow to Ebitda ratio, dividend, and buyback payouts vis-a-vis PAT
Cost pressures a concern, though, as crude, currency volatility remain
Shree Cement Ltd on Friday reported a 67.5 per cent decline in consolidated net profit to Rs 183.24 crore in the second quarter ended September 2022, impacted by higher power and fuel cost. The company, which had posted a consolidated net profit of Rs 563.94 crore in the same quarter last fiscal, also said its long-serving Chairman Benu Gopal Bangur has stepped down from the post due to his "advanced age" and will now become Chairman Emeritus. Gross revenue from operations stood at Rs 5,081.75 crore against Rs 4,219.8 crore in the year-ago period, Shree Cement said in a regulatory filing. Total expenses were higher at Rs 3,956.9 crore compared to Rs 2,798.3 crore with power and fuel cost at Rs 1,377.79 crore, up from Rs 726.75 crore a year ago, the company said. In a separate filing, Shree Cement said its board has accepted the resignation of its long-serving Chairman Benu Gopal Bangur due to his "advanced age" and will now become Chairman Emeritus with effect from October 15, ...
CLOSING BELL: A sharp pull-back in the US overnight triggered the relief rally in our markets on Friday. Benchmark indices however pared gains in the latter half of the trading day.
Stocks to watch today: Bajaj Auto & Shree Cement will post September quarter (Q2FY23) results on Friday, October 14; Infosys posted 11 per cent YoY rise in consolidated net profit to Rs 6,021 cr in Q2
Stocks to Watch today: Hero MotoCorp said it will invest USD 60 million (about Rs 490 crore) in US-based Zero Motorcycles to jointly develop electric motorcycles
Adani, Ultratech, Dalmia Bharat, Shree Cement to buy smaller companies, say analysts
India's National Stock Exchange (NSE) will add Adani Enterprises, the flagship company of Indian coal-to-edible-oils conglomerate Adani Group, to its benchmark Nifty 50 index effective Sept 30
Adani Group's entry in sector creates competition but doesn't change sector's plans radically, he says
Shree Cement Ltd on Thursday reported a decline of 55.8 per cent in its consolidated net profit to Rs 278.86 crore for the first quarter ended June 30. The company had posted a net profit of Rs 630.89 crore in the April-June period a year ago, Shree Cement said in a BSE filing. However, its revenue from operations increased 21.45 per cent to Rs 4,414.85 crore during the quarter under review against Rs 3,634.83 crore in the corresponding period of the preceding fiscal. Its total expenses rose 36.71 per cent to Rs 4,019.11 crore in Q1 FY23 from Rs 2,939.88 crore. Shree Cement is the third largest cement-making firm, owning brands such as Roofon, Bangur Power, Shree Jung Rodhak, Bangur Cement and Rockstrong. Shares of Shree Cement Ltd were trading at Rs 20,150 on BSE on Thursday, down 4.14 per cent from the previous close.
Adani Enterprises (AEL) is pegged to replace Kolkata-based Shree Cement in the Nifty 50 index, a gauge for the performance of India's capital market
A total of 46 stocks from the Nifty500 index also hit their respective 52-week lows on the NSE today including Astral, Birla Corporation, CSB Bank, LIC Housing Finance, SpiceJet.
In current times of weak demand, high fuel costs and entry of a new player (Adani group), any significant capacity announcement may be viewed negatively by the market, according to analysts
Shares of cement companies like UltraTech Cement, Dalmia Bharat, JK Cement, The Ramco Cements and Shree Cement were down in the range of 2 per cent to 6 per cent.
Analysts say AEL meets all requirements to make it to the benchmark index. Inclusion will be a big boost for the stock, resulting in passive inflows of $183 million