Shares in ACC Ltd and Ambuja Cements India Ltd fall even as their earnings beat forecasts as dealers say other income and tax credit contributed significantly to their net profits.
ACC falls 2.8 per cent even after reporting on Thursday March-quarter net profit of Rs. 399 crore, above consensus forecasts for Rs.337 crore.
Ambuja Cement is down 2.7 per cent after the company reported on Friday a forecast-beating 6.6 per cent rise in quarterly profit from a year earlier.
Ambuja's net profit was helped after other income rose by 53.2 per cent to Rs. 132 crore from a year earlier, according to company's filing.
Ambuja's shares had initially risen 1 per cent to a record high of Rs.221.
ACC falls 2.8 per cent even after reporting on Thursday March-quarter net profit of Rs. 399 crore, above consensus forecasts for Rs.337 crore.
Ambuja Cement is down 2.7 per cent after the company reported on Friday a forecast-beating 6.6 per cent rise in quarterly profit from a year earlier.
Ambuja's net profit was helped after other income rose by 53.2 per cent to Rs. 132 crore from a year earlier, according to company's filing.
Ambuja's shares had initially risen 1 per cent to a record high of Rs.221.