Cement Stocks Outlook for the week – 05 to 09.12.2016
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Cement Stocks Outlook for the week – 05 to 09.12.2016
( www.rupeedesk.in )
The shares of cement manufacturing companies will track the broader market next week,
which may be influenced by Sunday's constitutional referendum in Italy.
Italian citizens will vote on constitutional reforms on Sunday in what is seen as the most
significant political event in Europe this year, even bigger than Brexit.
The cement stocks performed mixed this week, with large-cap stocks such as ACC,
Ambuja and UltraTech closing 1-3% higher, while mid-cap stocks India Cements and
Shree Cements closed lower 2.4-6.0%.
The cement stocks also bore the brunt of the demonetisation of 500- and 1,000-rupee notes,
as overall demand and supplies got impacted recently, forcing companies and dealers to cut
prices to clear inventories. We believe cement stocks have now bottomed out. But they are
likely to trade higher on global triggers.
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Cement Stocks Outlook for the week – 05 to 09.12.2016
( www.rupeedesk.in )