How is a south-based cement player wooing top investors?

MUMBAI: A south-India based cement company is on a road-show to woo institutional investors and it has helped its share price too.

Key company officials have so far met around 35-40 domestic and foreign investors over the past few weeks. Fund managers whom ET spoke to said, the company’s ‘pitch’ is that leading cement players in south plan to raise prices post monsoon in a way that may not legally amount to ‘cartelisation.’

Such a promise has led the share price of this company to more than double over the past couple of months. Interestingly, research notes say cement prices in south have not sustained above Rs 350 a bag for over a year now. But funds are taking the bait.