Shree Cement Q4 profit beats view on strong sales volume
Shree Cement, India's third-largest cement maker by market capitalisation, reported a bigger-than-expected fourth-quarter profit on Tuesday as lower cement prices helped boost volumes.
Shree Cement, India's third-largest cement maker by market capitalisation, reported a bigger-than-expected fourth-quarter profit on Tuesday as lower cement prices helped boost volumes.
"The expectation of rising supply from the Shanxi province pushed coking coal prices down," said Cheng Peng, a Beijing-based analyst at Sinosteel Futures.
Vedanta Ltd, India's mining and metals conglomerate, led by Anil Agarwal, is navigating a pivotal point of inflection. Recent acquisitions, debt restructuring, and demerging have increased profitability. Vedanta plans to invest $20 billion across sectors, including electronics.
Vedanta group's Hindustan Zinc, Jindal Power, and JK Cement are technically qualified bidders for two gold mines in Rajasthan. Companies like Ramgad Minerals, Hirakund Natural Resources, and Poddar Diamond are also in the running.
The company's market capitalisation (mcap) touched Rs 2.44 lakh crore. With this, the company became the most valued metals and mining firm, ahead of companies like Tata Steel, JSW Steel, and Hindalco.
Jindal Steel and Power Ltd (JSP) on Monday reported a two-fold jump in consolidated profit after tax (PAT) to Rs 933 crore in the March quarter, as the company managed to reduce expenses. It had posted a PAT of Rs 466 crore during the fourth quarter in last fiscal, the company said in an exchange filing.
The Suryadev Fe550D CRS TMT Bars with a blend of copper, chromium, and nickel have been unveiled in the backdrop of diverse climates posing a formidable challenge to the country.
A bulk of the capital expenditure planned for 2024-25 (April 2024 to March 2025) fiscal will be on new energy businesses and airports, said Saurabh Shah, deputy chief financial officer, at an analyst call, transcript of which was released by the company.
Consolidated output was 21.13 LT in April 2023, JSW Steel said in a filing on Saturday. In India, the company produced 20.55 LT crude steel against 20.33 LT a year ago.
China's overcapacity and high production levels are likely to increase steel exports to India, which, combined with India's capacity growth, could suppress steel prices in the region.
Kalyani Steels Ltd on Friday reported a 10 per cent fall in standalone net profit to Rs 62.5 crore in the March quarter, dragged by higher expenses. It had posted a profit of Rs 69.7 crore in the corresponding period of the previous fiscal year, the company said in a regulatory filing on Friday.