According to brokerage firms, Ambuja Cements is set to deliver strong performance in subsequent quarters while ACC continued its consistency on the back of lower fixed costs leading to margin surprise.
The net profit increased to Rs 49.09 crore while total sales rose to Rs 612.89 crore in Q3FY24 due to strong festive demand and favourable cost of raw materials for the company.
The anticipation of increased spending by the central government in preparation for the 2024 general elections is projected to provide an additional impetus to cement demand in FY24, said Choice Broking.
Shares of UTI Asset Management Company surged about 11.25 per cent to Rs 965 on Tuesday, hitting a new-52 week high and commanding a total market capitalization of close to Rs 12,000 crore.