Shares of Ramco Cements Ltd. fell nearly 8% to its lowest intraday level since Feb. 1, 2021 after third quarter net income and Ebitda miss analysts’ estimates.
The Ramco Cements Q3FY22 (Consolidated, YoY)
- Revenue up 16% at Rs 1,552.50 crore Vs Rs 1,343.89 crore
- Net profit down 63% at Rs 75.62 crore Vs Rs 206.71 crore (Bloomberg consensus estimate: Rs 176 crore)
- Ebitda down 43% at Rs 228.92 crore Vs Rs 398.15 crore
- Margins at 14.7% Vs 29.6%
Of the 36 analysts tracking the company, 24 maintained ‘buy’, seven maintained ‘hold’ and five maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 26.4%.
Trading volume on the stock is 12.5 times the 30-day average volume at this time of the day. The relative strength index on the stock is at 24, suggesting it may be oversold.
Source: Exchange Filing, Bloomberg
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