Cement Stocks Outlook For The Week - 26 to 30.11.2018
Stocks of most cement companies are likely to track the broader market next week due to lack of any major sector-specific triggers, adding that the action will remain stock specific. However, recent fall in crude oil prices and expectations of demand improving, and thereby cement prices, will keep the bias positive for the sector. Fall in fuel prices bodes well for the margins of cement companies. Companies and dealers are optimistic of cement prices rising, with a resultant improvement in utilisation. Stock of UltraTech Cement is likely to remain under pressure in the near-term, as the company's acquisition of Binani Cement is likely to keep its profitability and margins subdued. Though the recent sell-off in cement stocks by foreign institutional investors remains a cause for concern, domestic institutions remain bullish on the sector. On the technical charts, stocks of Ambuja Cement, India Cements and Dalmia Bharat are seen positive next week, while those of ACC, UltraTech Cement and Shree Cements are likely to remain subdued.
Source : Cogencis Information Services Ltd.
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Stocks of most cement companies are likely to track the broader market next week due to lack of any major sector-specific triggers, adding that the action will remain stock specific. However, recent fall in crude oil prices and expectations of demand improving, and thereby cement prices, will keep the bias positive for the sector. Fall in fuel prices bodes well for the margins of cement companies. Companies and dealers are optimistic of cement prices rising, with a resultant improvement in utilisation. Stock of UltraTech Cement is likely to remain under pressure in the near-term, as the company's acquisition of Binani Cement is likely to keep its profitability and margins subdued. Though the recent sell-off in cement stocks by foreign institutional investors remains a cause for concern, domestic institutions remain bullish on the sector. On the technical charts, stocks of Ambuja Cement, India Cements and Dalmia Bharat are seen positive next week, while those of ACC, UltraTech Cement and Shree Cements are likely to remain subdued.
Source : Cogencis Information Services Ltd.
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