Cement Stocks Outlook for the week – 08 to 12.08.2016
Seen up on positive momentum in broader market
( www.rupeedesk.in )
Stocks of cement manufacturing companies are seen trading
with a positive bias next week due to
likely positive momentum in the broader market even as
investors wait for the Reserve Bank of
India's monetary policy review on Tuesday. The broader
market is seen trading higher next week led
by gains in Asian markets, following Bank of England's first
rate cut in seven years. Cement stocks
will look for cues from the broad market due to paucity of
sector or company-specific triggers next
week. Rains have curbed demand for cement across most of the
country. The Jul-Sep quarter has
been a the traditionally weak quarter. Cement prices have
declined by 5-30 rupees per 50-kg bag in
large parts of north India and dealers expect them to fall
further. Analysts will await the Apr-Jun
earnings of JK Cement scheduled to be announced on Saturday.