Cement firms likely to see profits halve in September quarter
Domestic cement producers are likely to see their profits halve year on year in the September quarter as lower-than-usual volume growth and over three-year low prices of the building material hit realisations, analysts said. While lower pet coke prices will provide some respite to the cement makers, it will be inadequate to offset the impact…
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Waning demand set to hit breakneck rally in auto stocks
A sizzling rally in Indiaβs auto shares is reversing as a build up of unsold vehicles and growing discounts by carmakers pressure profit margins. Indiaβs NSE Nifty Auto Index is down 4.1% in August, more than double the decline in the Nifty 50 Index. Bellwether Maruti Suzuki India Ltd. has slid 6% so far in…
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