RITES reported its Q2 results on Wednesday afternoon. What Happened: RITES saw its consolidated net profit decline 25.11% year on year to ₹82.5 crore. The public sector company’s revenue declined 7.12% from the previous year to ₹540.86 crore. The numbers missed the analyst estimates of ₹91 crore net profit and ₹553 crore revenue.
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Geojit Financial Services research report on UltraTech Cement. UltraTech Cement Ltd is the largest cement manufacturer in India. It produces grey and white cement and ready-mix concrete (RMC). In Q2FY25, UltraTech's consolidated revenue de-grew 2.4% YoY to Rs. 15,635cr, with sales volume increasing 4.3% YoY. The de-growth was due to weaker cement prices that reduced sales realisation 6.4% YoY.
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Subscriptions for Acme Solar Holdings’ initial public offering (IPO) are now available. Investors will have until November 8 to place bids on the issue. The IPO would consist of an offer for sale (OFS) by the selling shareholders for Rs 505 crore and new equity shares at Rs 2,395 crore, for a total IPO value of Rs 2,900 crore. As of 2:37 pm, Retail investors led the charge subscribing to 96%.
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