Is anyone tracking cement space ? we have seen crude fall off from $114 to $90 and yet the stocks haven’t reflected this. Also, select cement companies are trading at 1 to 1.5 P/B and many are doing capex. With infrastructure sector picking up (guessing from their orderbook) cement space can deliver good results. Few companies post capex with fall below EV $50/t which is at 50% discount to replacement cost of $100/t.
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