MOSL: Morning India (29/June/17)-1. Cement (Speed breakers ahead) 2. United Breweries 3. Persistent Systems 4. Healthcare
​MOrning India (29/June/17): 1. Cement (Speed breakers ahead); 2. United Breweries; 3. Persistent Systems; 4. Healthcare
Today’s top research theme
- ​Cement: Speed breakers ahead; Prefer stocks with good long-term earnings prospects
- May-17 saw price correction across the north, south and central markets due to demand weakness and government intervention to curb price increases.
- Prices in the east have been stable, barring some correction in Chhattisgarh. West was an exception, witnessing price increase in May-17.
- Heavy volume base from June 2016 and demand uncertainty due to impending GST implementation are likely to keep demand muted.
- We expect price correction, particularly in the north and central markets, in monsoon this year due to weak demand conditions and ramp-up of JPA’s assets acquired by Ultratech in 1HFY18.
- Against the backdrop, we prefer stocks with good long-term earnings prospects – Dalmia Cement, Birla Corporation, Ramco Cement, JK Cement and Shree Cement.
Piping hot news
Banks refer Amtek Auto, Electrosteel Steels, Jyoti Structures for bankruptcy proceedings
Banks on Wednesday initiated bankruptcy proceedings against Amtek Auto Ltd, Electrosteel Steels Ltd and Jyoti Structures Ltd on, taking the total number of cases filed under the Insolvency and Bankruptcy Code (IBC) to five, said two people aware of the matter.
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