NCL IN­DUS­TRIES

{ Ticker: 502168 { FV: ₹10 { 52-Week H/L: ₹249.70/99.90

Flash News Investment - - RECOMMENDATIONS -

We had rec­om­mended NCL In­dus­tries in Vol­ume No. 33, Is­sue No. 47 (dated Septem­ber 11, 2017), when the scrip was trad­ing at Rs 235. Our rec­om­men­da­tion was backed by ca­pac­ity ex­pan­sion and grow­ing de­mand in South In­dia. The Te­lan­gana mar­ket has sta­bi­lized and has high growth prospects. The state gov­ern­ment is spend­ing funds to­wards in­fras­truc­ture for pro­mot­ing low cost hous­ing, ir­ri­ga­tion and other in­fra projects. The im­pact of GST has been sub­dued on the prices of ce­ment at the in­dus­try level as a whole. But in the long run, pos­i­tive im­pact would be seen and NCL would ben­e­fit from it. Mon­soons also have been bet­ter than ex­pec­ta­tions this year, which would au­gur well for the com­pany. Hence, we rec­om­mend our in­vestors to HOLD the scrip.

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