Shares of cement companies such as ACC and Ambuja Cements were trading higher in the morning trade on Tuesday ahead of their financial results for the quarter ended June 30, 2016. Both companies are scheduled to announce their results today.
At 10.47 am, ACC was trading 1.57 per cent up at Rs 1704.45. The scrip opened at Rs 1682 and has touched a high and low of Rs 1711.75 and Rs 1682, respectively, in trade so far. Ambuja Cements was trading 1.45 per cent up at Rs 272.50.
Shares of Ambuja Cements opened the day at Rs 272 and has touched a high and low of Rs 274.05 and Rs 270.25, respectively, in trade so far. Benchmark BSE Sensex was trading 28.67 points down at 28,066.67.
Karvy Stock Broking is expecting 73.50 per cent and 43.30 per cent year-on-year rise in net profit from ACC and Ambuja Cements, respectively. The brokerage house in a research report said, “EBITDA/tonne for ACC is expected to jumb by 40 per cent yoy to Rs 631 per tonne led by lower costs which negates the impact of flattish yoy realisation. EBITDA per tonne of Ambuja Cements is expected to increase by 32 per cent yoy to Rs 823 per tonne.”