ACC, Ambuja shares fall as July-September earnings miss estimates

Shares in Ambuja Cements Ltd and ACC Ltd fell after the cement makers reported lower-than-expected July-September earnings.

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 per cent after it posted a 45 per cent fall in net profit to Rs 166 crore, missing market estimates of Rs 240 crore, according to Thomson Reuters I/B/E/S.

ACC Ltd also fell as much as 1.8 per cent after net profit for India's second-largest cement maker halved to Rs 121 crore in the July-September quarter, missing estimates of Rs 189 crore, according to Thomson Reuters I/B/E/S.

Copyright: Thomson Reuters 2013