Subdued sales volume reported by UltraTech Cement impacted Street sentiment, with the stock slipping 2.57 per cent on the BSE on Thursday — a day that saw the best rally by leading indices in many months.
Sales volume of India’s largest cement maker grew by a mere 2 per cent year-on-year (YoY) to 17.86 million tonnes (mt) in the April-June quarter (first quarter, or Q1). Considering the organic and inorganic capacity expansions undertaken by UltraTech, the Street was expecting higher volume growth despite elections impacting cement demand during the seasonally strong ...
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