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Cement Stocks Outlook for the week – 27 to 31.07.2015


A bearish bias is seen prevailing in benchmark indices in a trigger-heavy week ahead. Companies Apr-Jun earnings, the ongoing Monsoon Session of Parliament, expiry of July derivatives contracts, and the US Federal Open Market Committee's monetary policy meeting are some of the major events which will be closely tracked during the next week.

The overall market sentiment seems to be low owing to lack of progress on key bills in the ongoing Parliament session. If you observe in the past three days, indices weakened only in the second half of the trading session. This is because the Parliamentary houses kept getting adjourned and policy markers are taking too long to pass key bills on Goods and Services Tax and land acquisition.

Most Nifty companies have posted poor Apr-Jun earnings so far. Banks, which form a major portion of Nifty constituents, have reported higher non-performing assets and provisions this quarter as well, "Earnings of major sector-leaders will be key in setting market trend for next week.

Ambuja Cements, Tech Mahindra, Maruti Suzuki India, Punjab National Bank, Vedanta, YES Bank, Bank of Baroda, Dr Reddy's Laboratories, ITC, Kotak Mahindra Bank, NTPC, ICICI Bank, and Larsen & Toubro are among the Nifty constituents posting Apr-Jun earnings next week.

Shares of Bharat Electronics, Agro Tech Foods, Geojit BNP Paribas Financial Services, and State Bank of Bikaner and Jaipur will also be in focus as they are yet to report Apr-Jun earnings today.

Andhra Bank, Havells India, Indian Overseas Bank, Persistent Systems, and Pfizer will detail their earnings for the reporting quarter on Saturday. Investors will also await details on Justice A.P. Shah Committee's final report on Minimum Alternate Tax. The authorities are meeting today, but the government may only announce its stance on the issue after Supreme Court gives its verdict on the  Castleton case.

The Supreme Court is slated to give its order on a plea filed by Castleton Investment against
minimum alternate tax demand on Aug 4. The Bombay High Court has also stayed the hearing on Aberdeen Global Emerging Markets' plea against Minimum Alternate Tax demand till the Supreme Court gives its verdict the Castleton case. )