Orient Cement share price to grow 13 pct in one month, say experts: Should you buy?

At a time when the stock market is moving sideways and Nifty is trading in a broader range of 11,650 to 11,900, share market investors are in a wait and watch situation ahead of the Federal Reserve meeting and ease in Sino-US trade fever. However, the experts are of the opinion that these are sentiments which don't affect the counters for long. They say if the fundamentals and technicals are strong, then a scrip is bound to perform and Orient Cement is one of such stocks. As per the expert opinion, the Orient Cement counter is expected to give around 13 per cent return in short-term perspective means one month time.

Giving details of the technical chart in regard to the Orient Cement share price Simi Bhaumik, a SEBI registered technical equity analyst told Zee Business Online, "Technical chart of the Orient Cement shares are quite strong and in short-term perspective, one can take a buy position at current market levels and add on if it lowers from current Rs 113/stock levels to around 110-105 levels." Simi went on to add that the counter has strong support at Rs 100 per counter levels and if an investor decided to invest in Orient Cement stock, he or she must maintain a stop loss below Rs 100 per shares. 

On target that she would recommend to the stock market investors Simi Bhaumik said, "The Orient Cement counter would soon show the Rs 125 per stock levels and once it breaks this level, ti would show Rs 135 per stocks in around a week." She said that the counter would show Rs 135 per shares in short-term and an investor can think of taking a buy position in the counter if it dips by around 3-4 rupee from its current levels. Currently, the Orient Cement shares are oscillating around Rs 113 per stock levels.

Giving details of the fundamentals of Orient Cement Debanjana Chatterjee, Research Analyst at HDFC Securities said, "Orient Cement Ltd (OCL) is a part of
CK Birla group promoted by late BM Birla. The company was incorporated to acquire the cement division of Orient Paper & Industries Ltd (OPIL). The company’s cement plants have an aggregate installed capacity of 8 million tonnes per annum (MTPA) - located at Telangana, Maharashtra and Karnataka." The HDFC Securities analyst said that margins may expand on account of the company’s efforts to improve its realisations from the superior quality cement it introduced in Q1FY19.

On the suggestion to the stock market investors in regard to the Orient Cement counter Debanjana Chatterjee of HDFC Securities said, "From the fundamental perspective, the Orient Cement share price is expected to show Rs 122.5 per stocks soon and once it sustains above this levels, ti would then show Rs 131 per stocks."