Cement stocks were trading lower despite the rating agency ICRA’s latest report stated that the demand for cement has been tepid in the first quarter of the current financial year (Q1FY20) due to slowing of the project execution on account of general elections.
Shree Cement is currently trading at Rs. 21761.35, down by 148.30 points or 0.68% from its previous closing of Rs. 21909.65 on the BSE. The scrip opened at Rs. 22007.15 and has touched a high and low of Rs. 22007.15 and Rs. 21700.00 respectively.
Ultratech Cement is currently trading at Rs. 4588.00, down by 17.20 points or 0.37% from its previous closing of Rs. 4605.20 on the BSE. The scrip opened at Rs. 4610.00 and has touched a high and low of Rs. 4622.00 and Rs. 4580.00 respectively. So far 10522 shares were traded on the counter.
ACC is currently trading at Rs. 1578.00, down by 2.55 points or 0.16% from its previous closing of Rs. 1580.55 on the BSE. The scrip opened at Rs. 1585.70 and has touched a high and low of Rs. 1587.55 and Rs. 1571.10 respectively. So far 36798 shares were traded on the counter.
ICRA expects the demand to pick up from the third quarter of the fiscal, post-monsoon season and expects it to increase by nearly 7 per cent during for FY20. It also said the growth is likely to be driven by housing, primarily rural housing and affordable housing, and improved focus on infrastructure segments, mainly road, railway and irrigation projects. Talking about profitability, it noted that in Q1FY20, the higher cement prices and lower costs power and fuel and freight expenses are likely to result in margin recovery.
It further said that in Q2FY20, the consumption is expected to be on lower side owing to the monsoon season. In April this year, cement production stood at 28.7 million MT, which was lower by 13.3 per cent as compared to March 2019.
| Company Name | CMP |
|---|---|
| Ultratech Cement | 9399.10 |
| ACC | 2405.85 |
| Shree Cement | 24409.60 |
| Ambuja Cement | 609.45 |
| Dalmia Bharat | 1949.10 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Download APP
