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Recommendation Date : 21-Jun-2010 Last Update Date : NA
Cement :
Is cement a favourable sector? If one looks at the market sentiment does not look like. The market is just not factoring in the correct variables according to us. If cement was in a bad state, why aren’t cement companies up for grabs? This has happened historically over various market cycles in the past. The last one year or so has seen no consolidation deals happening in the sector. What does this tell us about the position of companies in this sector? Obviously the good times are yet to come but the times are not as bad as the market feels. Cement prices are rising and the price cartel is falling in place once again. Demand is likely to remain robust thanks to newer vistas of consumption like government spending on infrastructure particularly roads. Can imports spoil the party? May be, but not certainly. Moreover if the futures isn’t looking as bright, why are Indian companies setting up expansion plans? The growth trajectory that cement companies are likely to witness is quite clear to us. According to us the markets neglect of cement stocks which in some cases are available way below their replacement cost is not justified.
 
Recommended Companies:
Company Name
Shree Cement Ltd
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