Latest news with #UltraTechCement
Economic Times
3 days ago
- Business
- Economic Times
Sudip Bandyopadhyay flags valuation risks in defence stocks after Mazagon Dock miss
"Look at companies like UltraTech Cement. They have performed very well, much better than market expectations. Yes, monsoon is not a time for cement, but in spite of that market is appreciating the performance of some of these large companies," says Sudip Bandyopadhyay, Group Chairman, Inditrade Capital. ADVERTISEMENT Give us a sense of what you have made of the earning season gone by. Now that has finally come to an end for us and when I take a look at the earnings scorecard, you have only seven Nifty companies so far that have performed below earnings estimates at least compared to the ET Now estimates with 13 above, 20 in line, and 9 mixed coming in. So, it has not been all that bad like the street was estimating before the beginning of the season. Give us a roundup on what you think has happened when it comes to the earnings and your takes on that. Sudip Bandyopadhyay: Well, you are absolutely right, compared to Q3, Q4 earnings were much-much better and as you rightly said, this was much better than even what was being expected. So, we should take note of the fact that companies have performed by and large better than market expectations. Let us look at cement. This is one sector which has performed uniformly well. Look at some of the FMCG companies, they have performed well. Some of the construction and engineering companies, they have done well. And also, I would say if you want to specify companies, look at how some of the other names in the building material and textiles, even technology, some of the technology companies have performed better than what was being expected. So, by and large, it has been a good set of numbers. Amongst the recently announced numbers, some of the defence companies have disappointed and we have been saying for quite some time that the defence sector valuation is at such level that margin of error is very-very limited. So, a Mazagon Dock slipping on margin definitely will attract negative attention of the market and that is what getting played out now. Q4 numbers of company like a Mazagon Dock was not good, it was a darling of the market. On the other hand, look at the wind energy company Suzlon, they have performed much better than what was being expected. The management commentary was very bullish and very positive. So, market has been rewarding it. Look at companies like UltraTech Cement. They have performed very well, much better than market expectations. Yes, monsoon is not a time for cement, but in spite of that market is appreciating the performance of some of these large companies. I was coming to you for this because Mazagon Dock reported its quarter four numbers and, of course, the fall in the stock price post the results. I wanted to ask, is really the party over for all the defence companies right now because they had run up quite a bit and, of course, after operation Sindoor they were running up on very high valuations and now that the results have been a disappointment, is the party really over in the defence space? Sudip Bandyopadhyay: Well, the party was carrying on for much more than what was warranted. You see, the whole issue is the valuation. There is absolutely no doubt in the fact that some of these companies are very good companies and there is absolutely no problem in they are gaining in more and more orders, the order book is full, and they will keep getting orders. The challenge comes in execution. Look at Hindustan Aeronautics, HAL. Look at the order book, it is bulging and it is continuously increasing. The management is also very confident of new orders coming in. But look at the guidance on topline revenue growth, about 8%. Now, in 8% topline growth cannot command the kind of valuation it is commanding, that is where the challenge is. So, we have to be very cognisant of the fact that you are looking at a rich valuation and if somebody is getting in at these valuations, they should be aiming for a long haul. You should not expect quick returns in this segment. The only company where I expect a re-rating in the near future is Bharat Electronics. This is a fantastic company. Electronics in defence is the key thing nowadays. ADVERTISEMENT They cater to air force, army, navy, all three wings of the armed forces. Adjacencies like metro network, they have got into, export market has opened up, strong balance sheet, good execution. Last year, the order inflow was below expectations, but that is going to get corrected surely this year. So, some kind of re-rating at some stage during the current fiscal is possible and investors can look at buying into BEL even at current levels. (You can now subscribe to our ETMarkets WhatsApp channel)
Business Upturn
5 days ago
- Business
- Business Upturn
Nifty 50 top losers this week (May 31): UltraTech Cement, Grasim Industries, ITC, Shriram Finance and more
The Indian stock market closed the week on a mixed note, marking the second consecutive weekly decline for benchmark indices. On Friday, May 30, 2025, Indian equity benchmarks ended in the red due to broad-based selling. The BSE Sensex dropped by 182.01 points (0.22%), closing at 81,451.01, while the Nifty 50 slipped 82.90 points (0.33%) to settle at 24,750.70. Several major stocks underperformed this week, with UltraTech Cement, Grasim Industries and ITC leading the losses. Let's take a closer look at the top 10 losers of the Nifty 50 this week, according to Trendlyne. Nifty 50 Top Losers This Week UltraTech Cement saw the biggest weekly drop, closing at ₹11,210.00 with a -4.6% decline. Grasim Industries fell -4.3% , ending the week at ₹2,545.80. ITC declined by -4.2% , closing at ₹418.10. Shriram Finance closed at ₹639.40, registering a -3.1% fall. NTPC also dropped -3.1% , finishing at ₹333.90. Tata Consumer Products ended the week at ₹1,106.30, down -3.0% . Power Grid Corporation declined by -2.8% , closing at ₹289.80. Apollo Hospitals Enterprises dropped -2.6% , with a closing price of ₹6,880.50. Hindalco Industries also registered a -2.6% fall, ending at ₹633.50. Asian Paints closed at ₹2,259.10, down -2.4% for the week. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Hans India
28-05-2025
- Business
- Hans India
Markets break 2-day rally as profit booking takes over
Mumbai: Snapping the two-day gaining streak, benchmark Sensex tumbled nearly 625 points on Tuesday due to profit-taking in banking, IT and auto shares. The 30-share BSE Sensex dropped 624.82 points or 0.76 per cent to settle at 81,551.63 in a volatile session. During the day, the barometer tanked 1,054.75 points or 1.28 per cent to 81,121.70. As many as 25 Sensex shares declined while five advanced. The 50-issue NSE Nifty declined 174.95 points or 0.70 per cent to 24,826.20. The barometer saw sharp swings in both directions in the first half but sustained profit-taking in heavyweight stocks dragged the index down. Key indices Sensex and Nifty had advanced around 1.5 per cent in the past two sessions. Analysts said investors turned cautious ahead of the release of industrial and manufacturing production data for April on Wednesday and the first quarter GDP numbers, scheduled to be announced later this week. From the Sensex firms, UltraTech Cement fell the most by 2.21 per cent, followed by ITC which declined 2.01 per cent. Tata Motors, NTPC, Axis Bank, HCL Tech, Mahindra & Mahindra, HDFC Bank, ICICI Bank and Eternal were among the laggards. IndusInd Bank, Sun Pharma, Adani Ports, Nestle and Asian Paints were the gainers. 'The domestic market witnessed volatility and snapped a two-day rally, as investors opted for profit booking driven by valuation concerns and weakness across Asian markets,' Vinod Nair, Head of Research, Geojit Investments, said. Mid- and small-cap segments remained relatively resilient, supported by better-than-estimated Q4 earnings and moderation in premium valuation, Nair added. The BSE smallcap gauge went up by 0.19 per cent and midcap index climbed 0.18 per cent. Among sectoral indices, FMCG dropped 0.79 per cent, IT declined 0.71 per cent, BSE Focused IT by 0.68 per cent, auto by 0.66 per cent, bankex by 0.60 per cent, utilities by 0.57 per cent and metal by 0.52 per cent. Healthcare, industrials, telecommunication, capital goods, realty and consumer durables were the gainers. 'We are currently witnessing a tug-of-war between bulls and bears amid mixed global cues.
The Print
27-05-2025
- Business
- The Print
Stock markets snap 2-day rally, Sensex falls nearly 625 pts as banking, IT shares retreat
The 50-issue NSE Nifty declined 174.95 points or 0.70 per cent to 24,826.20. The barometer saw sharp swings in both directions in the first half but sustained profit-taking in heavyweight stocks dragged the index down. The 30-share BSE Sensex dropped 624.82 points or 0.76 per cent to settle at 81,551.63 in a volatile session. During the day, the barometer tanked 1,054.75 points or 1.28 per cent to 81,121.70. As many as 25 Sensex shares declined while five advanced. Mumbai, May 27 (PTI) Snapping the two-day gaining streak, benchmark Sensex tumbled nearly 625 points on Tuesday due to profit-taking in banking, IT and auto shares. Key indices Sensex and Nifty had advanced around 1.5 per cent in the past two sessions. Analysts said investors turned cautious ahead of the release of industrial and manufacturing production data for April on Wednesday and the first quarter GDP numbers, scheduled to be announced later this week. From the Sensex firms, UltraTech Cement fell the most by 2.21 per cent, followed by ITC which declined 2.01 per cent. Tata Motors, NTPC, Axis Bank, HCL Tech, Mahindra & Mahindra, HDFC Bank, ICICI Bank and Eternal were among the laggards. IndusInd Bank, Sun Pharma, Adani Ports, Nestle and Asian Paints were the gainers. 'The domestic market witnessed volatility and snapped a two-day rally, as investors opted for profit booking driven by valuation concerns and weakness across Asian markets,' Vinod Nair, Head of Research, Geojit Investments, said. Mid- and small-cap segments remained relatively resilient, supported by better-than-estimated Q4 earnings and moderation in premium valuation, Nair added. The BSE smallcap gauge went up by 0.19 per cent and midcap index climbed 0.18 per cent. Among sectoral indices, FMCG dropped 0.79 per cent, IT declined 0.71 per cent, BSE Focused IT by 0.68 per cent, auto by 0.66 per cent, bankex by 0.60 per cent, utilities by 0.57 per cent and metal by 0.52 per cent. Healthcare, industrials, telecommunication, capital goods, realty and consumer durables were the gainers. 'We are currently witnessing a tug-of-war between bulls and bears amid mixed global cues. However, favourable domestic factors such as a good monsoon and strong macroeconomic data are helping maintain a positive undertone,' Ajit Mishra – SVP, Research, Religare Broking Ltd said. In Asian markets, South Korea's Kospi and Shanghai's SSE Composite index settled in the negative territory while Japan's Nikkei 225 index and Hong Kong's Hang Seng ended higher. Markets in Europe were trading in the green. US markets were shut on Monday for Memorial Day. Foreign Institutional Investors (FIIs) bought equities worth Rs 135.98 crore on Monday, according to exchange data. Global oil benchmark Brent crude climbed 0.51 per cent to USD 65.07 a barrel. The BSE Sensex jumped 455.37 points or 0.56 per cent to settle at 82,176.45 on Monday. The Nifty climbed 148 points or 0.60 per cent to 25,001.15. PTI SUM MR MR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Business Upturn
27-05-2025
- Business
- Business Upturn
Nifty 50 top losers today, May 27: UltraTech Cement, ITC, JSW Steel, Tata Motors, Axis Bank and more
By Aman Shukla Published on May 27, 2025, 15:47 IST The Indian stock market faced a sharp decline on Tuesday, May 27, 2025, as both benchmark indices ended the session deep in the red. The BSE Sensex fell by 624.82 points, or 0.76%, closing at 81,551.63, while the Nifty 50 index slipped 174.95 points, or 0.70%, to settle at 24,826.20. Several stocks from the Nifty 50 index ended in the red. Among the biggest losers of the day were well-known names like UltraTech Cement, ITC and JSW Steel. Let's take a closer look at the top losers of the Nifty 50, according to Trendlyne. Nifty 50 top losers on May 27 UltraTech Cement closed at ₹11,421.00, down 2.3%. ITC closed at ₹433.90, down 2.0%. JSW Steel closed at ₹1,013.70, down 1.8%. Tata Motors closed at ₹716.50, down 1.7%. Axis Bank closed at ₹1,195.60, down 1.6%. Grasim Industries closed at ₹2,614.20, down 1.6%. NTPC closed at ₹338.60, down 1.4%. Mahindra & Mahindra closed at ₹3,039.80, down 1.3%. HCL Technologies closed at ₹1,652.10, down 1.3%. Bajaj Finserv closed at ₹2,029.90, down 1.1%. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Axis BankITCJSW SteelNiftyTata MotorsUltraTech Cement Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
