Cement Stocks Outlook for the week - 05 to 09.May.2014
Stocks
of major cement companies to remain rangebound next week, as gains from the
Jan-Mar
earnings of ACC, Ambuja Cements and UltraTech Cement have been factored
in
and there are no significant triggers on the horizon.
The
gains in share prices following the Jan-Mar earning announcements of three big
cement
makers have been eroded to some extent by profit booking, but the strong
results
have
brought positivity about the sector.
However,
demand for cement has improved and is seen stable after the general elections
and
this would stem loss in the value of these shares even after some profit
booking.
Construction
activity has picked up in parts of north and west India, the biggest cement
markets,
and therefore cement manufacturers' stocks are seen remaining strong in the
medium
term.
Cement
companies have also been raising product prices, improving their margin, which
has
attracted investors to these stocks. Outlook of sustained demand over the
medium
term
is expected to help retain investor interest in these stocks.
Over
the past few sessions, there has been profit booking in cement stocks and they
shed
some gains made after strong Jan-Mar earnings by
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