On the indicator front, the MACD is comfortably placed above its signal-line and the 14 period RSI is soaring northwards, affirming that Ambuja Cements' stock may surge in the coming future
Following around 10 per cent YoY growth in volumes in Q3FY21, Motilal Oswal Securities expects the sector's volumes to grow around 20 per cent YoY in Q4FY21
NMDC announced resuming mining operations at its Donimalai iron ore mine in Karnataka
Escorts share price has witnessed a decent correction and has flattened out near 1290 levels to improve the bias
This will not impact positive sentiment in the sector, say analysts
The CCI has initiated an investigation against cement companies in India regarding alleged anti-competitive behaviour
India's antitrust body conducted raids at offices of UltraTech Cement and two subsidiaries of the world's largest cement maker LafargeHolcim, two sources said
UltraTech, Shree Cement, JK Cement, and Ambuja Cements among analyst picks
All indicators point to a gradual rise in Aurobindo Pharma's stock from the 100 EMA support
The volatility index, IndiaVIX, fell by 5 per cent and ended at a 4-month low of 24.75 levels on Thursday
Virus-led disruption, availability of labour major concerns
Corporate results would get a lot worse in the coming quarters
Manufacturers in India and China were anticipating growth on the back of an infrastructure splurge. The pandemic has forced them to cut back, and revival this year looks tough
Combined profit before tax of 81 firms down 37.5% y-o-y, worst show in at least 3 years
According to a Business Standard report, the government will give out new official economic growth and budgetary projections in July or later
On March 23, Ambuja Cements temporarily suspended its operations at various locations, in compliance with the direction issued by the government in view of the pandemic
Most regions show cement prices per 50 kg bag to have improved by 0.7-5.0 per cent, while average prices in South India are still down 0.4 per cent.
While UltraTech and Shree Cement have risen 13-16 per cent since their December lows, ACC and Ambuja Cements have lagged, with gains of 6-9 per cent
Profitability, declining costs are positives, but demand revival key for any upside
Having witnessed a strong demand environment during H2FY18 till FY19, domestic cement firms are likely to report subdued sales volume in Q1FY20