Stocks of major cement companies are seen tracking broad market next week due to lack of any sector-specific triggers. We expect some correction in cement companies' shares in the medium term, as most of these scrip are trading close to their life-time highs and are seen as overvalued.
Stocks of ACC and Ambuja Cements saw minor corrections during the week, as the two stocks have been trading close to their life-time highs since the past couple of weeks. Stocks of Jaiprakash Associates rose 13% during the week, after having taken a beating for over past two months. The company's shares also benefited due to its exposure to the infrastructure and power sectors. Investors are hopeful that the government may announce some reforms for these key sectors, which may benefit Jaiprakash Associates.
