@Thiagarajan Ramasamy
@Rakcyt When the resolution plan was approved in May 2023, and the stock was removed from suspension, the stock started from zero and hence has traded as per quarterly results, the reason behind the 1800% parabolic move.
The results for cement companies in general have been good because of raw material prices, especially crude lingering at not so high levels as OPEC would have wanted. Even the war between Israel and Palestine did not give that spark. This resulted in improved profit margins for the companies. Look how Ultratech performed. But going ahead, as interest rates get a cut, if as expected, the raw material, in general commodities, won't be as cheap as current due to fall in USD, which will impact margins going ahead, so with that in view mere positive sentiment due to capex driven sentiments won't push this stock up as decrease in OPM margins clearly show it has lost pricing power just after few quarters of getting revived, which affects its sales. Plus cement companies are more of YoY outlook than QoQ.
As for the OFS, since its a price priority basis OFS, the equilibrium price will be slightly higher than floor price of Rs 90. Keep a tab on the equilibrium price close to 3:30 PM. Stock will move lower as it has today after OFS annoucement as an interested person looking to corner a big chunk of shares without block deal comes in to grab shares at lower prices and post OFS you will generally see a 10-12% rally in the prices.