Dec qtr results were disappointing as costs escalated and volumes came under pressure
Ambuja Cements, The Ramco Cements look weak on charts, while UltraTech Cement seems the best bet in the sector.
Mindtree dips 4% on profit booking after December quarter results; Aurobindo Pharma ends 5% down on US FDA warning letter for unit; India Cements gains 4%; hits highest level since January 2008
Ambuja Cements and India Cements charts indicate breakout of 'Inverse Head and Shoulder' pattern, thus a bullish trend ahead.
Analysts expect under-performance by FMCG shares to continue
The rise in price has been attributed to inputs commodity cost pressure such as coal and diesel supported by rising demand
Shares of cement companies have delivered impressive returns. But they are now announcing rate cuts, especially in the Delhi-NCR region. Will this halt the rally in cement shares? Let's find out
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Auto stocks outperform on reports that chip shortage may be easing; Cement stocks decline on reports of price cut in Delhi-NCR
All the major cement stocks are gearing up for next upside, check the near term support and likely targets here
The present scenario hints a strong momentum in the cement stocks, wherein shares of ACC, Grasim and UltraTech Cement are claiming new uncharted territory with firm volumes
The company is witnessing strong demand from various infrastructure constructions such as highway construction, railways, metro rail, irrigation projects, airports and urban housing market
The significant pick up in the infra activity backed by the NIP is likely to see healthy traction in terms of new project awards and execution medium term, which is expected to boost cement demand.
Investors appear to have paid heed to the negative aspects in the recent past
Going forward, easing of localised curbs and post monsoon, analysts expect a sharp rebound in demand for cement.
In the past one month, shares of Dalmia Bharat, JK Lakshmi Cement, Ramco Cement and Ambuja Cement have rallied between 11 per cent and 19 per cent
UltraTech Cement and Grasim Industries are only a few bucks short of their lifetime high of Rs 7,055 and Rs 1,547, respectively
Analysts expect a sustainable demand recovery in volumes in coming quarters on the back of gradual relaxations in lockdowns, expectations of construction activities gaining momentum post-monsoon
With ease in restrictions from July onwards, demand is expected to pick up
All-India average cement price, according to analysts' estimates, is likely to be up around 1 per cent quarter-on-quarter (QoQ) and nearly 5 per cent YoY in Q4-FY21E