Preface

Investors today need more information about the markets and companies before making investments in the share market. They want to have every information necessary to maximize their returns. The window dressing of the share market has tempted most of the retail investors to invest in share market. With the growing investments in share market it becomes necessary to provide the investors with the details of the sector and various companies. Through this report we have tried to bring about the details of the cement sector and the major players in this sector. We have tried to highlight the financial details of the major players and their future prospects which would be required by the investors to maximize their returns.

Acknowledgement
A project report compiled by us as a partial fulfillment toward the summer training was conceptualized by Mr.Vimal Shah. We take this opportunity to acknowledge our gratitude to Mr.Vimal Shah who spared his valuable time and provided the necessary guidance and information for the successful completion of the project. Without his support it would have been difficult to complete the project. We would like to express our profound gratitude to Mr.Himal Parikh for giving us the opportunity to do the project and providing the necessary information. We would like to thank the employees of Interface Brokerage and Financial Services for providing the necessary help in completion of the project. We would like to thank all those individuals who have helped us directly or indirectly for the successful completion of the project.

ii

CEMENT SECTOR
Executive Summary

Cement industry is the backbone of infrastructure industry. In our country, government has laid plans to improve the infrastructure in order to support various industries and facilitate the overall economy. India is the second largest producer and consumer of cement in the world, after China. Moreover, factors like globalization and technological up gradation are resulting into modernization of the industry. The industry is witnessing a change through consolidations, which will strength the dynamics of the industry, wherein major players will continue to dominate the industry. However, still the key success factor in the industry remains location of plants as transportation is a major expense to cement industry. But with government taking the initiative by liberalizing the industry and given concessions such as tax holidays, higher depreciation allowances cement industry is bound to play a major role in coming decade.

iii