Concrete gains

As Ramco Cements shares rally, promoter PR Venketrama Raja-led entity Sri Vishnu Shankar Mill sells shares worth ₹103 million

Published 2 years ago on Nov 19, 2019 1 minute Read

Cement sector hasn’t seen the best of days this year, but one stock that has defied the trend is Ramco Cements. Despite weak sentiment clouding the space, the stock has gained more than 20% over the past 11 months, rallying 11% in the month of October alone. This was triggered by a strong performance in Q2FY20. Even amidst a weak demand scenario, its volume rose 10% YoY. Meanwhile, net sales and profit grew 12.36% and 47%, respectively. Analysts at Motilal Oswal Securities expect sales and profit growth of 10% and 30% for FY20.