Star Cement: Will the Low Cost Operations Last?
Cement stocks have been rising on the expectation that the government will do something about the infrastructure sector in the Union Budget and also improvement in prices in some parts of the country. Stock prices of some of the best cement companies, like Shree Cement as well as Birla Cement, have gone up a lot.
 
One of the cement companies with interesting fundamentals is Star...
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  • Nifty, Sensex may move in a narrow range – Thursday closing report
    We had mentioned in Wednesday’s closing report that Nifty, Sensex may move in a narrow range. The major indices suffered a minor correction. On the NSE, there were 560 advances, 1,238 declines and 350 unchanged. The trends of the major indices in the course of Thursday’s trading are given in the table below:
     
     
    YES Bank shares tanked after India Ratings (Ind-Ra) expressed doubts over the lender's fundraising plans. The rating agency said raising sizeable capital in the near-term could be challenging for the lender.
     
    Brokerage firm Macquarie downgraded the share price of Reliance Industries to 'underperform' saying most of the positives are already priced in.
     
    Shares of Dewan Housing Finance declined nearly 5% after reports that former DHFL CMD Kapil Wadhawan had allegedly siphoned off Rs.12,773 crore bank money with the help of 79 shadow entities and one lakh fictitious customers.
     
    The Department of Telecom is set to issue an approval letter for the merger of Tata Teleservices' consumer mobile business with Airtel next week while deciding not to pursue the case in the Supreme Court after the court declined to stay telecom tribunal TDSAT order that had cleared the deal with some payment.
     
    Pine Labs announced Paper POS for merchants to accept payments across different kinds of UPI and Bharat QR payments, including from Amazon Pay, Google Pay, PayZapp, PhonePe, YONO, among others.
     
    Indian Oil Corporation reported a 10% year-on-year decline in revenues to Rs1,47,431 crore for the quarter ended December 2019. Net profits grew 178% YoY to Rs2,684 crore.
     
    LIC Housing Finance reported a 12% year-on-year increase in net interest income to Rs5,006 crore for the quarter ended December 2019. Net profits fell 0.83% YoY to Rs602 crore.
     
    WS Industries India approves the sale of land situated at Pondicherry and appointment of Mr.K.Rajasekar as manager with the designation of President (corporate affairs).
     
    Bajaj Auto reported 1.99% YoY growth in revenues for the quarter ended December 2019, at Rs8,006 crore. Net profits rose 8.33% to Rs1,322 crore.
     
    L&T Construction’s water & effluent treatment business has secured a prestigious EPC order from Narmada Valley Development Authority (NVDA), Government of Madhya Pradesh to execute the Indira Sagar - Parwati Phase III & IV Lift Micro Irrigation Project. This is a repeat order from NVDA, for whom L&T is already executing the Parwati Phase I and II and various other projects.
     
    The USFDA has issued a letter to Aurobindo Pharma classifying its oral solids formulation manufacturing facility as Official Action Indicated (OAI). The company believes that OAI classification will not have any material impact on the existing revenues or the supplies to US business at this juncture. 
     
    The top gainers and top losers of the major indices are given in the table below:
     
     
    The closing values of the major Asian indices are given in the table below:
     
     
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