Cement Stocks Outlook for the week – 26 to 30.12.2016
( www.rupeedesk.in )
The shares of cement manufacturing companies are expected to extend their losses next week because of lower volumes due to Christmas and New Year holidays, as well as higher volatility owing to the expiry of the December derivatives contract. The Cement stocks that corrected more than markets this week are not expected to see early recovery next week as the week is also a derivatives expiry week. The benchmark Nifty 50 fell around 1.89% this week. Cement stocks corrected 1-4% this week, with large-cap stocks such as UltraTech Cement and Ambuja Cement correcting 2.2% and 1.2%, respectively, while mid-cap stocks Jaiprakash Associates and Shree Cement fell 4.5% and 3.4%, respectively. Next week, the performance of cement stocks will also depend on a revival in demand, which took a beating due to the withdrawal of 500-and 1,000-rupee notes by the government. The country were forced to undertake a 10-15% price cut to clear inventories and the situation is unlikely to improve this month either.
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Cement Stocks Outlook for the week – 26 to 30.12.2016
The shares of cement manufacturing companies are expected to extend their losses next week because of lower volumes due to Christmas and New Year holidays, as well as higher volatility owing to the expiry of the December derivatives contract. The Cement stocks that corrected more than markets this week are not expected to see early recovery next week as the week is also a derivatives expiry week. The benchmark Nifty 50 fell around 1.89% this week. Cement stocks corrected 1-4% this week, with large-cap stocks such as UltraTech Cement and Ambuja Cement correcting 2.2% and 1.2%, respectively, while mid-cap stocks Jaiprakash Associates and Shree Cement fell 4.5% and 3.4%, respectively. Next week, the performance of cement stocks will also depend on a revival in demand, which took a beating due to the withdrawal of 500-and 1,000-rupee notes by the government. The country were forced to undertake a 10-15% price cut to clear inventories and the situation is unlikely to improve this month either.
