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Wednesday, Apr 19, 2006

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Cements on MNCs' radar?

Mid-cap cement stocks including Mysore Cements, India Cements, Prism Cement, Shree Cement and Madras Cements have gained substantially over the last 3-4 of weeks on buzz about multinational cement majors Lafarge, Holcim, Heidelberg Cement and Italcementi looking for possible acquisitions in the mid- and small-cap cement space in India.

Dealers said investors are also expecting good prospects for cement companies, thanks to the booming construction and infrastructure sectors. Further, cement prices are also up, increasing the profit margins of the companies.

Mysore Cements has risen by 23.80 per cent in the last one month to Rs 51.50 while Prism Cement gained by a hefty 51.17 per cent to Rs 38.85. Similarly, Madras Cements flared up 40.46 per cent to Rs 2,948.45 from Rs 2,099.10 and Shree Cement rose 23.80 per cent to Rs 1,084.15 while India Cements went up 24.81 per cent to Rs 204 during the last one-month period.

Rajesh Abraham

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