Cement Stocks Outlook For The Week – 26 To 29.12.2017
Stocks of cement companies are seen trading mixed next week and activity is likely to be stock-specific, as concerns about demand and a rise in input costs persist. While ACC Ltd and Ambuja Cements Ltd are seen trading in a narrow range next week, UltraTech Cement Ltd is likely to gain as technically. Positive trend on the cement sector in the medium- to long term because of the government's focus on affordable housing and higher infrastructure spending. However, concerns remain in the short term. Cement companies had increased prices post the Supreme Court's
decision to ban the use of petroleum coke in Uttar Pradesh, Haryana and Rajasthan, but they were unable to fully pass on the higher costs as demand from the housing sector is yet to pick up. Though the court lifted the ban last week, the government has hiked import duty on petroleum coke to 10% from 2.5%. This is likely to raise input costs for cement manufacturers, and they may also have to resort to using coal. Besides, an issue with availability of sand in states such as Uttar Pradesh, Bihar, Rajasthan, and Tamil Nadu is affecting demand for the commodity.
Source : Cogencis Information Services Ltd.
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Stocks of cement companies are seen trading mixed next week and activity is likely to be stock-specific, as concerns about demand and a rise in input costs persist. While ACC Ltd and Ambuja Cements Ltd are seen trading in a narrow range next week, UltraTech Cement Ltd is likely to gain as technically. Positive trend on the cement sector in the medium- to long term because of the government's focus on affordable housing and higher infrastructure spending. However, concerns remain in the short term. Cement companies had increased prices post the Supreme Court's
decision to ban the use of petroleum coke in Uttar Pradesh, Haryana and Rajasthan, but they were unable to fully pass on the higher costs as demand from the housing sector is yet to pick up. Though the court lifted the ban last week, the government has hiked import duty on petroleum coke to 10% from 2.5%. This is likely to raise input costs for cement manufacturers, and they may also have to resort to using coal. Besides, an issue with availability of sand in states such as Uttar Pradesh, Bihar, Rajasthan, and Tamil Nadu is affecting demand for the commodity.
Source : Cogencis Information Services Ltd.
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