In the September 2023 quarter, JK Lakshmi Cement s revenue grew by 12% year-on-year to Rs1,452 crore. Its sales volume grew by 10%, which was similar to the 11% volume growth at the sector level. The operating profit before depreciation and amortisation (EBITDA) grew by 17% to Rs705 per tonne. Net profit grew by 41% to Rs83 crore.
Market expert Hemang Jani is optimistic about Paytm and Zomato due to their improving operating prices and expanding user base. He believes that Paytm s loan products and wealth offerings are driving its profitability, and sees a potential upside of 20-22% for the stock. Regarding cement stocks, he expects positive growth in earnings and M&A activity in the next few quarters. He also highlights the impact of rising crude oil prices and bond yields on the market, emphasizing the need for a stock-specific approach.
Industrialist CK Birla has approached Gautam Adani to sell his promoter stake in Orient Cement after rejecting offers from other buyers. Birla s stake in Orient Cement is 37.9%, with a market value of ₹3,878 crore. The talks with Adani have been ongoing for the past few months, but there is no guarantee of a transaction. Birla s valuation demand, which is double the current market price, could be a deal breaker. Adani Cement recently acquired Sanghi Industries and currently has a total cement capacity of 110 MTPA.
Industrialist CK Birla has approached Gautam Adani to sell his promoter stake in Orient Cement after rejecting offers from other buyers. Birla s stake in Orient Cement is 37.9%, with a market value of ₹3,878 crore.