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Cement stocks surge as Jefferies forecasts recovery in second half of fiscal year

Cement stocks experienced a rally on December 2, led by Ultratech Cement, which rose over 3% to become the top gainer on the Nifty 50. Jefferies forecasts an 8-10% volume growth in H2FY25, driven by improved demand and government capital expenditure revival, with Ultratech and JK Cement identified as top picks. Other companies like Shree Cement and ACC also saw gains of 2-3%.

adani group stocks rebound after significant market losses from bribery allegations

Adani Group stocks showed signs of recovery after a significant drop due to US bribery charges. Adani Ports and SEZ rose 1.7% to Rs 1,133, while Adani Green Energy climbed 3.5% to Rs 1,186. Despite this, Adani Energy Solutions fell 3.5% to Rs 673, following a tumultuous session that saw the group lose Rs 2.2 lakh crore in market capitalization.

Adani Group faces 2.2 lakh crore loss amid US bribery allegations

Adani Group's market capitalization plummeted by Rs 2.2 lakh crore on November 21, with stocks falling up to 20% following US bribery charges against Gautam Adani. Prosecutors allege he and other executives paid over $250 million in bribes to secure solar energy contracts, violating federal laws while raising $1.36 billion from American investors. Just hours before the allegations, Adani raised an additional $600 million through green dollar bonds from US investors.

ACC reports strong volume growth with revised target price of 3262

ACC reported a 15% YoY volume growth in 2QFY25, reaching 9.3mt, driven by increased trade volume and premium products. Despite a 1.6% QoQ decline in average NSR due to lower cement prices, EBITDA remained in line with expectations. The company anticipates improved demand in 2HFY25, supported by infrastructure projects, and has revised its target price to Rs 3,262, valuing the stock at a long-term EV multiple of 15x September 2026 EBITDA.

stocks to watch as quarterly earnings are announced on october 24

On Thursday, stocks such as HUL, Escorts Kubota, NLC India, Nuvoco Vistas, AU SFB, VIP Industries, Thyrocare, and Dr. Lal PathLabs will be in focus. Additionally, ITC, IndusInd Bank, NTPC, ACC, JSW Energy, and several others are set to announce their quarterly earnings on October 24.
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