We advise investors to tread carefully as the rich valuations might be difficult to sustain in a weak demand environment.
Meanwhile, Tata Consultancy Services and Reliance Industries are the only two stocks in the elite $100 billion club.
Cement sales volumes increased to 5.93 million tonne in quarter ended December 2018 against 5.3 million tonne in year-ago
Edelweiss bullish on Shree Cements has recommended buy rating on the stock with a target price of Rs 19909 in its research report dated July 30, 2018.
The two incorporated companies will act as investment companies for acquiring controlling stake in another companies in UAE, Shree Cements said in a regulatory filing.
Power and fuel costs account for 25-30 percent of the total operating cost for the power guzzling industry.
Kotak Securities recommended accumulate rating on Shree Cements with a target price of Rs 20748 in its research report dated January 12, 2018.
Amid high valuations and a volatile macro environment, Credit Suisse recommends investors to focus on long-term structural themes that have been shaping up in India.
Sudarshan Sukhani of s2analytics.com is of the view that one can buy Apollo Tyres, Dewan Housing Finance Corporation and Shree Cements and can sell Tata Motors and Glenmark Pharma.
Shree Cements' Q1 earning beat estimates as sales volumes were strong and capacity expansion is coming on stream. In an interview to CNBC-TV18, HM Bangur, MD of the company spoke about the results and his outlook for the company.
Operating profit margin contracted by 640 basis points YoY to 26.8 percent in Q1.
Net Sales are expected to increase by 3.3 percent Q-o-Q (up 11.9 percent Y-o-Y) to Rs 2459.7 crore, according to Edelweiss. Shree Cement to report net profit at 404.5 crore down 20.3% year-on-year.
Shree Cements is the top pick in the cement space, while Dalmia Bharat is a preferred mid-cap play.
According to Prakash Gaba of prakashgaba.com, Nifty's trend is still up with some more sideways movement not ruled out. The crucial support for the Nifty is at 9560-9540 and the resistance is at 9676.
Prakash Gaba of prakashgaba.com is of the view that 9540 is a strong support to work with and upside to 9660 is a possibility and it is the banks that hold the key. The crucial support for the Nifty is at 9660 and the resistance is at 9560. Bank Nifty has support at 23100 and resistance at 23500.
Edelweiss is bullish on Shree Cements has recommended buy rating on the stock with a target price of Rs 21140 in its research report dated May 16, 2017.