Cement Stocks Outlook for the week - 28.11.2016 to 02.12.2016
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The shares of cement manufacturers are seen rising next week, as the valuations of these stocks have improved on charts, following deep corrections over the past few months. The price correction, which started a few months ago, gained pace following the government's announcement of the withdrawal of high-value currency notes from circulation. Now, however, the stocks have bottomed out. Hence, the stocks are likely to sustain the upward movement next week onwards. We expect some of the stocks in this segment that have higher participation of foreign investors, such as UltraTech Cement, may see a pull-back due to FII sell-off in anticipation of a rate hike by the US Federal Reserve.
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The shares of cement manufacturers are seen rising next week, as the valuations of these stocks have improved on charts, following deep corrections over the past few months. The price correction, which started a few months ago, gained pace following the government's announcement of the withdrawal of high-value currency notes from circulation. Now, however, the stocks have bottomed out. Hence, the stocks are likely to sustain the upward movement next week onwards. We expect some of the stocks in this segment that have higher participation of foreign investors, such as UltraTech Cement, may see a pull-back due to FII sell-off in anticipation of a rate hike by the US Federal Reserve.
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