Goldman Sachs and Nomura picked up stakes in Afcons Infrastructure through bulk deals, despite the stock’s negative listing. Afcons Infrastructure’s muted debut was due to negative market sentiments and lower-than-expected subscription, primarily caused by the parent’s higher OFS and challenging phase.
Q3 woes: Cement companies may face earnings downgrades again
Cement producers expect net profit declines in the December quarter, leading to earnings downgrades. Despite a 7-8% increase in sales volumes, revenues will remain flat.
January 10, 2025