Tag: shares of cement companies

Shares of cement companies are showing positive signals on tech charts While the S&P BSE Sensex managed to stage a new all-time high of 53,129 yesterday(6th July 2021); the overall sentiment remains tepid. The current momentum in the cement sector indicates an upside of nearly 10 percent in select stocks. Further, if the breakout is supported by volume, the sector could be in for a sharp upside in the short term. Shares of UltraTech Cement and Grasim Industries, for instance, are only a few bucks short of their lifetime high of Rs 7,055 and Rs 1,547, respectively. Even fundamentally, the outlook for the cement sector remains strong. " All key consumption drivers are showing signs of traction, which will aid the cement companies to sustain robust earnings growth. Thus, a valuation re-rating is on the cards for the cement companies in light of promising growth visibility," say some research analysts. Read more

The benchmark indices in Indian markets traded flat with a positive bias in morning deals today(6th July 2021). The S&P BSE Sensex traded 60 points up at 52,940 levels and the Nifty50 index was holding the 15,800-mark. HDFC Bank, Maruti Suzuki, and Bajaj Finance were the top Sensex gainers. The Nifty sectoral indices traded mixed, with the Nifty Realty index, up 0.55 percent, leading the gainers. The S&P BSE MidCap and SmallCap indices traded 0.23 percent and 0.47 percent higher in the broader markets, respectively. Shares of cement companies were in focus on the bourses today in an otherwise subdued market with Ambuja Cement (up 6 percent to Rs 360) and JK Lakshmi Cement (up 4 percent at Rs 622.50) hitting their respective record highs on the expectation of the profitability of the sector companies remaining intact despite cost rise.