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Thursday, Dec 07, 2006

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Cement stocks: Price hike hopes

The continued uptrend in cement prices coupled with expectations of yet another price hike has been driving interest in cement counters on the bourses. Analysts also talk of a lot of M&A activity in this sector, which is expected to provide further impetus to cement company stocks.

There is also market talk of Holcim looking to up its stake further in Gujarat Ambuja.Most cement stocks, however, ended lower on Wednesday in line with the broad market trend. GACL ended at Rs 140 on the BSE, the total traded quantity of shares stood at 11 lakh shares against the two-week average of 9,07,253. ACC closed at Rs 1145.15, the total traded quantity of shares stood at 2,02,287 today as against the two-week average of 1,98,024. While ACC has gained more than 12 per cent month on month, GACL has seen a 9.25 per cent gain.

Deeptha Rajkumar

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