Cement stocks have been on the radar considering the government’s infra push and acquisition of Ambuja Cements and ACC by Adani Group. Analysts said the twin acquisitions by Adani have raised hopes of more such deals in the sector as a few players are finding it difficult to pare their leverage and may be willing to exit the cement business at good valuations.
EIL Q3 profit soars over 3x YoY to Rs 302 crore
State-owned Engineers India Ltd (EIL) reported an over 3-fold on-year jump in net profit to Rs 302 crore for the third quarter ended December 31,