Stocks of major cement companies are seen in a narrow range next week amid lack of sector-specific triggers. Some stock-specific action in the sector is possible. Next week, stocks of cement companies may track the market. The next trigger for the sector will come from the data on cement despatches in August, to be released on Sep 1.
This week, stocks of India Cements and Madras Cements rose more than 6% due to attractive valuations. Shree Cement shares rose 5% after the company Thursday reported better-than-expected earnings for Apr-Jun. In Apr-Jun, Shree Cement's net profit surged to 3.51 bln rupees from 550.1 mln rupees a year ago due to improved realisations and sales volumes. Net sales in the quarter increased 43% to 145.53 bln rupees.
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