Cement Stocks Outlook for the week – 27 to 31.03.2017
Cement Stocks Outlook for the week – 27 to 31.03.2017
The shares of cement companies are seen trading mixed next week due to the absence of major triggers. The UltraTech Cement stock looks strong and is likely to see gains. Demand for cement, which was hit by demonetisation, has seen a revival since mid-January, as the availability of currency notes has improved. As demand started improving, cement companies increased prices across the country by 3-20 rupees per bag in February and March. However, the companies are unlikely to hike prices further this month, as they would try to increase sales volume in the last month of the financial year (Apr-Mar). The revival in rural economy and huge spending on infrastructure will greatly benefit cement demand in the next fiscal. In the Union Budget for 2017-18 (Apr0Mar), Finance Minister Arun Jaitley had allocated a record 3.96 trln rupees to infrastructure, up 10.5% from 2016-17. UltraTech Cement Ltd is in a positive territory and is likely to continue making gains.
Source : Cogencis Information Services Ltd
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Cement Stocks Outlook for the week – 27 to 31.03.2017
The shares of cement companies are seen trading mixed next week due to the absence of major triggers. The UltraTech Cement stock looks strong and is likely to see gains. Demand for cement, which was hit by demonetisation, has seen a revival since mid-January, as the availability of currency notes has improved. As demand started improving, cement companies increased prices across the country by 3-20 rupees per bag in February and March. However, the companies are unlikely to hike prices further this month, as they would try to increase sales volume in the last month of the financial year (Apr-Mar). The revival in rural economy and huge spending on infrastructure will greatly benefit cement demand in the next fiscal. In the Union Budget for 2017-18 (Apr0Mar), Finance Minister Arun Jaitley had allocated a record 3.96 trln rupees to infrastructure, up 10.5% from 2016-17. UltraTech Cement Ltd is in a positive territory and is likely to continue making gains.
Source : Cogencis Information Services Ltd