Nifty is also trading above its two major simple moving averages 100-DMA and 200-DMA that are rising and placed around 11,000. The crossover between them hints at strong uptrend in mid-term
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What also works in favour of the company is cement price which is atleast Rs 20 per bag higher in the core NE markets than those in West Bengal. Significant state thrust on roads and hydro power projects offers long-term cement demand potential of 15 percent CAGR.
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