Live Sensex and Nifty coverage: Ambuja Cement falls on lower Dec-quarter sales

Source : SIFY
Last Updated: Tue, Feb 21, 2017 11:09 hrs
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Live Markets Commentary

Sify Editors @ 11:10 AM
Jindal Steel & Power looks poised for further upside. Hold.

Sify Editors @ 10:50 AM
Hold shares of PSU oil marketing firms BPCL, HPCL and IOC for medium term gains. Add more of these in small quantities at declines.

Sify Editors @ 10:30 AM
Ambuja Cement falls on lower Dec-quarter sales

Shares of Ambuja Cement fall as much as 2.8 pct to 232.75 rupees, posting biggest intraday percentage drop since Dec. 12

The cement maker said on Monday its Dec-qtr net sales fell 6.8 percent.

Revenue declined given lower cement volumes, while weak prices impacted Ambuja's operations across regions, particularly eastern India, Morgan Stanley analysts write.

"We expect a pickup in volume momentum in the ensuing quarters, helped by improving demand trend, though it will continue to lag the growth of large peers," - Morgan Stanley analysts.

Up to Monday's close, stock has gained about 16 pct this year.

Sify Editors @ 10:00 AM
Sensex up marginally after slightly listless start; HCL Tech, Tech Mahindra rise

It's a cautious and somewhat listless start for Indian stocks Tuesday morning, despite a fairly positive lead from global markets.

Asian markets edged higher, with some of them holding nearly 18-month highs. Major European markets closed higher overnight, while the U.S. market was closed for Presidents Day holiday.

The BSE benchmark Sensex is up 21 points or 0.07% at 28,682.58. The Nifty50 of the National Stock Exchange is up 10 points or 0.12% at 8889.20.

Sify Editors @ 9:25 AM
The Sensex opens in the green

The BSE Sensex, which opened at 28,716.70 points, was trading at 28,672.58 points (at 9.16 a.m.) in the early session, higher 11.00 points or 0.04 per cent from Monday's close at 28,661.58 points.

The Sensex touched a high of 28,726.10 points and a low of 28,663.93 points in the trade so far.

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