Cement stocks: Fate indecisive

Pressure is likely to build on cement stocks as some of Dalal Streets savvy traders were unwinding their positions.

J P Associates, Ultratech, Century and Birla Corp. saw huge interest on anticipation of government clarification over limestone mine transfer in case of M&As.

Amendment to Mines Transfer Act, a key for mine transfers, could not happen during the December Parliament session leading to pessimism for the sector.

More, a top PE player, who was eying cement plants of a heavily debt laden company, has backed-off for now sources close to the deal said. With too much uncertainty, fate of cement stocks hangs in balance.