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June 2011 – Cement Numbers
ACC and Ambuja Cements reported their cement dispatches numbers for June 2011.
ACC posted a 7.3% yoy increase in dispatches to 1.91mn tonnes, aided by capacity
addition. On mom basis, dispatches for the month declined by ~4%. Ambuja Cements’
dispatches fell by 1.2% yoy to 1.70mt. On mom basis, dispatches were down by 3.4%.
Cement dispatches are witnessing muted growth across the country due to poor demand
from the real estate and infrastructure segments. Dispatches are expected to slowdown
further in the next few months due to the seasonal effect with the arrival of the monsoons.
Cement prices have corrected substantially across the country, except the southern region,
from March 2011 peak levels. Prices are expected to correct further with slowdown in
demand. We remain Neutral on ACC and Ambuja.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
June 2011 – Cement Numbers
ACC and Ambuja Cements reported their cement dispatches numbers for June 2011.
ACC posted a 7.3% yoy increase in dispatches to 1.91mn tonnes, aided by capacity
addition. On mom basis, dispatches for the month declined by ~4%. Ambuja Cements’
dispatches fell by 1.2% yoy to 1.70mt. On mom basis, dispatches were down by 3.4%.
Cement dispatches are witnessing muted growth across the country due to poor demand
from the real estate and infrastructure segments. Dispatches are expected to slowdown
further in the next few months due to the seasonal effect with the arrival of the monsoons.
Cement prices have corrected substantially across the country, except the southern region,
from March 2011 peak levels. Prices are expected to correct further with slowdown in
demand. We remain Neutral on ACC and Ambuja.
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