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Stocks of major cement companies are seen trading with a negative bias during the week as weak earnings estimates weigh on investor sentiment. Also, cement behemoths ACC Ltd and Ambuja Cements Ltd will be in focus as they are set to detail Oct-Dec earnings on Thursday. Q3 Oct-Dec results are expected to be hit by cost pressures and constrained volumes.
According to weak demand persisted during the quarter on account of infrastructure slowdown. Also, even though manufacturers have started announcing price hikes across select regions, in anticipation of a demand pick-up. With minimal visibility on a demand pick-up, prices may remain under pressure over the near term. We expect a muted show from cement stocks amidst the stretched earnings downgrade cycle.
Stocks of major cement companies are seen trading with a negative bias during the week as weak earnings estimates weigh on investor sentiment. Also, cement behemoths ACC Ltd and Ambuja Cements Ltd will be in focus as they are set to detail Oct-Dec earnings on Thursday. Q3 Oct-Dec results are expected to be hit by cost pressures and constrained volumes.
According to weak demand persisted during the quarter on account of infrastructure slowdown. Also, even though manufacturers have started announcing price hikes across select regions, in anticipation of a demand pick-up. With minimal visibility on a demand pick-up, prices may remain under pressure over the near term. We expect a muted show from cement stocks amidst the stretched earnings downgrade cycle.
