Sharekhan Investor's Eye dated December 06, 2006

[Sunil]

 

Investor's Eye [December 06, 2006] Please see the attachment for details Share khan www.sharekhan.com

Summary of Contents SECTOR UPDATE Cement Buoyancy continues  The cement majors have reported buoyant dispatch numbers for the month of November 2006. Cumulatively these majors have reported a strong 8.8% year-on-year (y-o-y) growth in the cement dispatches to 53 lakh tonne. The AV Birla group (which includes Grasim Industries and UltraTech) recorded a y-o-y growth of 12.7% to 24.7 lakh tonne whereas Gujarat Ambuja recorded a smart 9.5% y-o-y growth to 13.11 lakh tonne. ACC's growth remained subdued at 2.7% at 15.2 lakh tonne which could probably be attributed to the heavy monsoons in the south where it has significant exposure. Year-till-date (ytd), all the three majors have approximately reported a growth of 8.8% yoy. Automobiles  A power-packed performance by ALL Ashok Leyland's November sales are ahead of our expectations. The company reported an overall growth of 64% year on year (yoy) as its vehicle sales jumped to 6,923 units in the month. Its domestic sales grew by 59% while its exports rose by a whopping 179%.

Regards, The Sharekhan Research Team myac...@sharekhan.com

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