Cement Stocks Outlook For The Week - 17 To 21.12.2018
Stocks of cement companies are likely to continue with their positive momentum next week given their rally this week due to the capacity expansion plan announcements by ACC Ltd, Ambuja Cement Ltd and Ramco Cements Ltd. Ambuja Cement has announced it will expand its clinker production to 3.1 mtpa from 1.7 mtpa in Rajasthan, whereas ACC will increase clinker production by 3 mtpa in Madhya Pradesh. Ambuja Cement has revised its capital expenditure plan to 23.5 bln rupees from 13.9 bln rupees estimated earlier, while ACC's capital expenditure is around 30 bln rupees. Ramco Cements has said it plans to invest 34.3 bln rupees to expand its capacity to 20 mtpa by the end of 2020. The GST Council meeting on Dec 22 will be closely watched by investors as it is likely to cut down GSTon cement to 18% from 28%. Also, prices of petcoke, which is used as a raw material in cement production, will be monitored and will serve as a major indicator for cement stocks movements.
Source : Cogencis Information Services Ltd.
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Stocks of cement companies are likely to continue with their positive momentum next week given their rally this week due to the capacity expansion plan announcements by ACC Ltd, Ambuja Cement Ltd and Ramco Cements Ltd. Ambuja Cement has announced it will expand its clinker production to 3.1 mtpa from 1.7 mtpa in Rajasthan, whereas ACC will increase clinker production by 3 mtpa in Madhya Pradesh. Ambuja Cement has revised its capital expenditure plan to 23.5 bln rupees from 13.9 bln rupees estimated earlier, while ACC's capital expenditure is around 30 bln rupees. Ramco Cements has said it plans to invest 34.3 bln rupees to expand its capacity to 20 mtpa by the end of 2020. The GST Council meeting on Dec 22 will be closely watched by investors as it is likely to cut down GSTon cement to 18% from 28%. Also, prices of petcoke, which is used as a raw material in cement production, will be monitored and will serve as a major indicator for cement stocks movements.
Source : Cogencis Information Services Ltd.
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