JK Cement that is one of the prominent name in the cement industry is facing price pressure when it comes to its stock price. Stock has fallen by 14% from its 52-week high.
post-election in the construction activities will again resume we can see uplift in the demand of construction related commodities. Currently in sight of monsoon and slowness in the construction activity due to election has put some negative sentiments in the mind of investors this year so far there are three sectors which are facing pressure number one is IT number two is FMCG number three is cement.
Currently, the stock of JK cement is below its 90 and 20 days moving average, which clearly shows the pressure on the stock price at the moment. But very soon we will have JK cement coming up with its Q phone numbers, if the numbers will be in line with expectations of the market. We can see some relief. If we analyse the cement sector companies that have already come up with you for earnings, the numbers are not very promising though there are growth in revenue but there is some pressure on the bottom line. Market sentiments changes very quickly. If market will see the value in investing cement sector stocks for a quick gain of 10 to 15%, we can see some buying comin but that seems to be only visible near the Q1 earning season.
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