Stocks of major cement companies are seen rising next week, but investors will eye despatches data for September before taking a medium-term view on the sector. Sentiment for the sector is positive and next week also we should see some rally in cement counters unless there is some unexpected disappointment in despatch data. Additionally, the rise in some stocks may be capped due to profit sales.
Shares of cement majors rose significantly this week due to the bullish sentiment for the sector, with shares of ACC, Ambuja cement and UltraTech Cement touching life-time highs. Wednesday, Credit Suisse raised the price target for the top three cement players noting that they are likely to benefit from easing cost pressures and strength in cement prices. Shares of UltraTech Cement are likely to remain in focus next week, after the company was included the 50-share Nifty index on Friday. Shares of Dalmia Bharat Enterprises may be in the spotlight after the company announced acquisition of Adhunik Cement, which owns a 1.5-mln-tn cement unit at Meghalaya. The acquisition was completed for a consideration of 5.60 bln rupees. By RUPEE DESK [email protected] -- You received this message because you are subscribed to the Google Groups "Kences1- Rupeedesk" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/kences1?hl=en.
