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Sector Outlook

Bank Sector Rating: Positive In 3Q 2010, our coverage universe reported positive growth in Net interest income (NII) with decent growth in advances except ICICI Bank. Net interest margins has grown up on back of falling cost of deposit as banks have bolstered their CASA base. We continue to have bullish view on sector since IIP (Index of Industrial production) can surprise on upside which will ignite private capital...

ACC Ltd.

ACC Limited is India ’s leading manufacturer of cement, mainly into Bulk Cement and Ready Mix Concrete. In CY09, the company?s improved operational efficiency helped to gain a decent performance, despite lower volumes and reported 33% jump in its net profit. The net sales were up by 10% and OPM improved by 230 bps to 23.6%. Currently, the total capacity of the company stands to 26 MMTPA. Bargarh expansion...

Cement: Cautious View

Investors are recommended to book profit on the cement counter as this sector looks weak on the following reasons: - Cement prices are coming down on all India basis with maximum fall observed in South India (E.g. Rs 170 per 50 Kg bag in Vishakapatnam). - Our discussion with various industry experts suggests us that cement prices seems to have peaked out with supply overhang resulting in lower capacity...

Q3 2009 results and India Inc.

The much-expected RBI rates cuts and the second economic stimulus package has come and gone. Despite the announcements, the markets remained range bound because of the expected Q3 results from the next week. Well, results are not expected to be good in most of the sectors. But there are some sectors, which have shown a positive trend and would post a good performance, providing the balance. Among all sectors, the...

Types of Cement

Types of Cement· . Clinker Cement · Ordinary Portland Cement · Portland Blast Furnace Slag Cement · Portland Pozzolana Cement · Rapid Hardening Portland Cement · Oil Well Cement · White Cement · Sulphate Resisting Portland Cement · Clinker Cement: It is the solid material produced by the cement kiln stage. Clinker is ground to become Portland cement. It may also to be interground with other...

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