Cement Stocks Outlook For The Week - 15 To 19.10.2018
Stocks of cement companies are seen falling next week due to concerns about weak prices and muted demand. Retail prices of major cement companies ACC Ltd, Ambuja Cements Ltd and UltraTech Cement Ltd declined by 3-6 rupees per 50-kg bag in Mumbai in October due to weak demand and higher competition. Despite an estimated 9% volume growth in 2018- 19 (Apr-Mar), the earnings before interest, tax, depreciation and amortisation pet tn is expected to be lower than the average for the last decade. We are positive on demand for cement in the medium term, expecting it to rise in the run-up to the general elections next year because of higher spending by the government. However, prices are likely to be muted in 2018-19 because of pressure on the government in an election year, ramp-up in utilisation of units acquired, and higher competition.
Source : Cogencis Information Services Ltd.
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Stocks of cement companies are seen falling next week due to concerns about weak prices and muted demand. Retail prices of major cement companies ACC Ltd, Ambuja Cements Ltd and UltraTech Cement Ltd declined by 3-6 rupees per 50-kg bag in Mumbai in October due to weak demand and higher competition. Despite an estimated 9% volume growth in 2018- 19 (Apr-Mar), the earnings before interest, tax, depreciation and amortisation pet tn is expected to be lower than the average for the last decade. We are positive on demand for cement in the medium term, expecting it to rise in the run-up to the general elections next year because of higher spending by the government. However, prices are likely to be muted in 2018-19 because of pressure on the government in an election year, ramp-up in utilisation of units acquired, and higher competition.
Source : Cogencis Information Services Ltd.
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