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Cement counters will come under the market radar this week after UltraTech Cement reported a weak financial performance that fell well short of Street expectations. ACC and Ambuja Cements are scheduled to announce their September quarter results on October 23. UltraTech recorded a net profit of Rs 264 crore during the quarter, 52 per cent lower than the Rs 550 crore in the corresponding quarter last year. Analysts had estimated a net profit of about Rs 410 crore. Net sales were down 4 per cent at Rs 4,502 crore (Rs 4,699 crore) for the country’s largest cement producer, which has installed capacity of 54 million tonnes per annum. Angel Broking expects cement firms to post a decline in margins on a y-o-y basis.
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