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Mazhar Mohammad of Chartviewindia.in said the near-term trend may remain directionless, as Nifty50 appears to be in a new trading range between 16,350-16,160.
Shares of cement companies continued their northward movement in Monday's session, with frontline stocks like UltraTech Cement, ACC, Ambuja Cement and Dalmia Bharat from the S&P BSE500 index hitting their respective new highs on the BSE in intra-day trade amid a positive outlook. A gradual recovery in rural housing, supported by the higher minimum support price (MSP) for Kharif crop, increased procurement by government agencies, improved food grain production in rabi harvest and forecast for a third consecutive normal monsoon, bodes well for the cement sector. UltraTech Cement, Orient Ceme...
Shares of cement companies were in focus on the bourses on Tuesday in an otherwise subdued market with Ambuja Cement (up 6 per cent to Rs 360) and JK Lakshmi Cement (up 4 per cent at Rs 622.50) hitting their respective record highs on expectation of the profitability of the sector companies remaining intact despite cost rise. Besides these two stocks, UltraTech Cement, ACC, Orient Cement, Star Cement, India Cements, The Ramco Cement, Shree Cement and JK Cements were up between 1 per cent and 3 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.10 per cent at 52,934 points at 09:3...
Strong buying seen in energy, power, realty and metal counters helped erase some of the losses, helping the Nifty close in the green.
ICICI Securities has add call on Orient Cement with a target price of Rs 138. The current market price of Orient Cement Ltd. is Rs 127.5. Orient Cement Ltd., incorporated in the year 2011, is a Small Cap company (having a market cap of Rs 2601.83 Crore) operating in Cement sector. Orient Cement Ltd. key Products/Revenue Segments include Cement, Scrap and Power for the year ending 31-Mar-2020. Financials For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 834.28 Crore, up 36.32 % from last quarter Total Income of Rs 611.98 Crore and up 26.05 % from last yea...