The Hindu Business Line : Shree Cements: Riding infrastructure boom

The Shree Cements stock, which dropped by one per cent on the NSE to close at Rs 1,138.20, is being tracked by analysts in the context of what is being seen as the company's aggressive expansion plan. The Bangur group outfit, among the larger players in the sector in Rajasthan, has in recent times enunciated various expansion proposals. Shree Cements, which has more than one facility in the State, has decided to hike capacity in line with growing demand for cement, a move that its board has approved. The company, which has brands like Shree Ultra and Shree Ultra Red Oxide, is expected to ride the infrastructure sector boom, which has thrown up greater demand for its products. Its access to raw material and capability to generate power are considered as advantages in an acutely competitive sector, analysts comment. The stock at present trades at about 11.2x and 7.4x fiscal 2007 and 2008 estimated earnings respectively. Its 52-week high stands at Rs 1,200 and its low at Rs 375.55. Volumes, however, were low; about 21,000 shares were traded.

Nilanjan Dey

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