ACC, Ambuja shares fall as July-Sept earnings miss estimates
Oct 24 2013 , Mumbai
ACC and Ambuja are controlled by Switzerland's Holcim Ltd, the world's No.2 cement maker, which in July said it plans to restructure its Indian operations to cut costs.
Shares in Ambuja Cements fell as much as 2.3 percent after it posted a 45 percent fall in net profit to 1.66 billion rupees, missing market estimates of 2.4 billion rupees, according to Thomson Reuters I/B/E/S.
ACC Ltd also fell as much as 1.8 percent after net profit for India's second-largest cement maker halved to 1.21 billion rupees in the July-September quarter, missing estimates of 1.89 billion rupees, according to Thomson Reuters I/B/E/S .