Cement Stocks Outlook for the week – 02 to 06.01.2017
Cement Stocks Outlook for the week – 02 to 06.01.2017
( www.rupeedesk.in )
Prime Minister Narendra Modi's speech on Saturday is expected to set the trend for shares of cement manufacturing companies in the coming week, as demand for the commodity took a beating post the demonetization of 500-and 1,000-rupee notes on Nov 8. Though cement stocks ended higher this week, this is believed to be a short-term year-end rally led by foreign funds, and is unlikely to sustain in January. Large-cap cement stocks such as UltraTech Cement, ACC Ltd, and Ambuja Cements closed 2-5% higher, while mid-cap stocks Jaiprakash Associates, India Cements, and Shree Cement closed up 4-9% this week. Next week, cement stocks are seen tracking any specific announcement by the government on measures to revive demand in the economy, as well as spends on rural and urban infrastructure. Dealers across the country were forced to undertake a 10-15% price cut to clear inventories after the government demonetized high-value currency notes.
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Cement Stocks Outlook for the week – 02 to 06.01.2017
( www.rupeedesk.in )
Prime Minister Narendra Modi's speech on Saturday is expected to set the trend for shares of cement manufacturing companies in the coming week, as demand for the commodity took a beating post the demonetization of 500-and 1,000-rupee notes on Nov 8. Though cement stocks ended higher this week, this is believed to be a short-term year-end rally led by foreign funds, and is unlikely to sustain in January. Large-cap cement stocks such as UltraTech Cement, ACC Ltd, and Ambuja Cements closed 2-5% higher, while mid-cap stocks Jaiprakash Associates, India Cements, and Shree Cement closed up 4-9% this week. Next week, cement stocks are seen tracking any specific announcement by the government on measures to revive demand in the economy, as well as spends on rural and urban infrastructure. Dealers across the country were forced to undertake a 10-15% price cut to clear inventories after the government demonetized high-value currency notes.
