ACC, one of India’s leading cement producers, is all set to announce its unaudited financial results for the quarter ended June 30, on Monday, July 29.
What Happened: The Board of Directors of the company will meet on July 29 to discuss and approve the standalone and consolidated financial results for the June quarter.
Analysts at Prabhudas Lilladher expect ACC to report a net profit of ₹306.6 crore, which is a decline of 34.2% year-on-year and 60.3% quarter-on-quarter. Net sales are expected to decrease by 9.8% year-on-year and 13.3% quarter-on-quarter to ₹4,689.6 crore.
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Earling in the day, media reports suggested that The Adani Group, India’s second-largest cement maker, is reportedly strategising to acquire the cement assets of the insolvent Jaypee Group, which exceed 9 million tonnes per annum.
On the other hand, Kumar Birla is reportedly back in talks to acquire Orient Cement, a move aimed at strengthening Ultratech's presence in South India.
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