Cement Stocks Outlook For The Week - 30.10.2017 To 03.11.2017
Cement Stocks Outlook For The Week - 30.10.2017 To 03.11.2017
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Stocks of cement companies may gain next week as most of the big manufacturers have reported better than estimated results, and on hopes of improved demand in coming months. Ambuja Cements Ltd, ACC Ltd and UltraTech Cement Ltd have so far posted higher than estimated profit for the quarter ended September. We remain positive on the sector in medium to long term as cement demand to rise because of government's focus on infrastructure. Also, a pick-up in affordable housing projects is expected to aid cement demand. The government's announcement of infra projects will help demand scenario. The government had on Tuesday announced a 6.9-trln-rupee plan to build 83,677 km of roads over the next five years, including the 5.35-trln-rupee Bharat mala road project which includes a dozen expressways connecting major Indian cities. The first phase of the Bharat mala project envisages building 28,400 km of roads over the next five years. Ambuja Cements, while announcing its quarterly earnings, had said that it also expects good monsoon rains to give a boost to the rural economy, which in turn will lead to improvement in cement demand. UltraTech (Cement) is likely to outperform other companies. ACC and Ambuja (Cements) are likely to follow UltraTech (Cement).
Source : Cogencis Information Services Ltd.
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( www.rupeedesk.in )
Stocks of cement companies may gain next week as most of the big manufacturers have reported better than estimated results, and on hopes of improved demand in coming months. Ambuja Cements Ltd, ACC Ltd and UltraTech Cement Ltd have so far posted higher than estimated profit for the quarter ended September. We remain positive on the sector in medium to long term as cement demand to rise because of government's focus on infrastructure. Also, a pick-up in affordable housing projects is expected to aid cement demand. The government's announcement of infra projects will help demand scenario. The government had on Tuesday announced a 6.9-trln-rupee plan to build 83,677 km of roads over the next five years, including the 5.35-trln-rupee Bharat mala road project which includes a dozen expressways connecting major Indian cities. The first phase of the Bharat mala project envisages building 28,400 km of roads over the next five years. Ambuja Cements, while announcing its quarterly earnings, had said that it also expects good monsoon rains to give a boost to the rural economy, which in turn will lead to improvement in cement demand. UltraTech (Cement) is likely to outperform other companies. ACC and Ambuja (Cements) are likely to follow UltraTech (Cement).
CEMENT - Up
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Source : Cogencis Information Services Ltd.
