 "Cement shares extend rally; UltraTech, Ambuja Cements hit six-month high")
Shares of cement companies continued to trade higher for a third straight session on the bourses on expectation of strong show in the current quarter as volume growth picking up, mainly from the infrastructure sector.
UltraTech Cement (Rs 3,240) and Ambuja Cements (Rs 228) have touched their respective six-month high price, while The Ramco Cements (Rs 420) hit a 52-week high, while Shree Cement (Rs 13,020) touches four-month high on the BSE in intra-day trade.
In past three–trading sessions, most of the frontline cement stocks rises more than 5% each as compared to 1.7% rise in the S&P BSE Sensex.
According to Religare Institutional Research believes the cement industry should see 9-10% growth in Q4 (January-March).
UltraTech Cement (Rs 3,240) and Ambuja Cements (Rs 228) have touched their respective six-month high price, while The Ramco Cements (Rs 420) hit a 52-week high, while Shree Cement (Rs 13,020) touches four-month high on the BSE in intra-day trade.
Read more from our special coverage on "CEMENT"
In past three–trading sessions, most of the frontline cement stocks rises more than 5% each as compared to 1.7% rise in the S&P BSE Sensex.
According to Religare Institutional Research believes the cement industry should see 9-10% growth in Q4 (January-March).
“We believe earnings downgrades, particularly for large-caps, are nearing an end as volume and pricing have turned favourable and cost benefits have begun to flow in”, added report.
UltraTech Cement said that the cement industry to witness strong demand growth ahead …in line with average historical multiple of GDP.
Demand to improve with government focusing on investment & infrastructure revival and various reforms, the company said in an investor conference in February.
The government’s focus on infrastructure is evident with the total targeted spending in FY17 increasing 28% over FY16.
This, along with a number of benefits provided on affordable housing, would aid recovery in cement demand, CRISIL Research said in a Budget analysis.
UltraTech Cement said that the cement industry to witness strong demand growth ahead …in line with average historical multiple of GDP.
Demand to improve with government focusing on investment & infrastructure revival and various reforms, the company said in an investor conference in February.
The government’s focus on infrastructure is evident with the total targeted spending in FY17 increasing 28% over FY16.
This, along with a number of benefits provided on affordable housing, would aid recovery in cement demand, CRISIL Research said in a Budget analysis.
| Name | 16/03/2016 | LTP | % chg |
| OCL India | 403.05 | 475.50 | 17.98 |
| Sanghi Inds | 51.20 | 59.50 | 16.21 |
| Mangalam Cement | 194.10 | 221.60 | 14.17 |
| Saurashtra Cement | 53.75 | 61.25 | 13.95 |
| Deccan Cements | 542.75 | 618.00 | 13.86 |
| Birla Corpn. | 349.40 | 396.40 | 13.45 |
| Dalmia Bharat | 696.00 | 780.00 | 12.07 |
| ACC | 1,237.55 | 1,369.70 | 10.68 |
| JK Lakshmi Cement | 305.15 | 337.25 | 10.52 |
| NCL Inds. | 89.05 | 98.40 | 10.50 |
| Ambuja Cements | 205.80 | 226.70 | 10.16 |
| Shree Cement | 11,448.30 | 12,584.00 | 9.92 |
| K C P | 74.70 | 81.70 | 9.37 |
| India Cements | 77.00 | 83.90 | 8.96 |
| UltraTech Cement | 2,974.35 | 3,218.00 | 8.19 |
| Heidelberg Cement | 73.05 | 78.90 | 8.01 |
| Prism Cement | 76.20 | 82.00 | 7.61 |
| Orient Cement | 137.45 | 147.55 | 7.35 |
| Sagar Cements | 375.70 | 402.00 | 7.00 |
| The Ramco Cement | 390.10 | 417.00 | 6.90 |
| Sensex | 24,682.48 | 25,092.00 | 1.66 |
| LTP : Last traded price on BSE in Rs at 12:16 PM | |||