Nifty 50 index surged over 6% in May, posting a record closing high. The gains in the 50-stock index were fuelled by strong FII inflows in the second half of the month and steady decline in daily COVID-19 cases
Given the spate of cement deals that have fallen by the wayside over the past few months – Aditya Birla’s Ultratech called off deal to buy Jaiprakash Associates' cement plants in Madhya Pradesh last month, as did Birla Co
The Rs 5,400-crore deal between India's largest cement maker Ultratech and Jaiprakash Associates (JAL) to acquire the latter's two cement plants has been called off on account of lack of regulatory approvals.
Maintain ‘buy’ on UltraTech Cement with a price target of R3,290 a share. We value the company at 12.5x EV/Ebitda, which is at ~25% and ~10% premium to our target multiple of ACC and Ambuja Cement, respectively. Based on