1:30 pm Results: Ambuja Cements missed street expectations on Wednesday
with the first quarter net profit falling 38.9 percent year-on-year to Rs
317.69 crore compared to Rs 520.01 crore in the year-ago period.
A poll had expected profit of Rs 340
crore on revenue of Rs 2,565 crore for the quarter.
Revenue declined 7 percent to Rs
2,463 crore for the quarter ended March against Rs 2,651.2 crore in the
corresponding quarter of last year.
The company follows January-December
as its financial year.
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The market is flat as the Sensex is
up 8.67 points at 27405.05. The Nifty is up 6.15 points at 8291.75. About 1441
shares have advanced, 956 shares declined, and 144 shares are unchanged.
IT, pharma and bank stocks are
lending support to the benchmark indices. Axis Bank is up 3 percent while
Wipro, Sun Pharma, ICICI Bank and GAIL were top gainers in the Sensex. Among
the losers were Vedanta, ITC, Tata Motors, Hindalco and HDFC.
Gold prices fell by Rs 53 to Rs 27,326 per 10 gm
in futures trade today largely in tandem with a weak trend overseas and
profit-booking by speculators. Analysts said the fall in yellow metal prices at
futures trade was mostly in tune with a weak trend overseas and profit-booking
by speculators at prevailing levels. For more information please visit this
site www.sharemarket259.blogspot.in
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