India Cements BUY Call was recommended by market expert Kushal Gupta today and the stock has remained range-bound today.

Shree Cement stock recovered today after yesterday’s massive decline.

Shree Cement stock was down by 11 percent in early trade as the company informed the exchanges on Saturday that the locations of the company were surveyed by income tax department.

Technical analyst Sudarshan Sukhani has suggested two BUY and two SELL calls for traders in today’s session.

Rajasthan-based Shree Cement Ltd has decided to invest Rs 1,200 crore in the current financial year to expand its production capacity, including setting up two greenfield plants and installing four captive power plants.

According to company officials, the investments would be made in two grinding units in Rajasthan and Uttaranchal, and two power plants of 50MW each at Bangur city.

According to the consolidated first quarter results posted by the cement bigwig ACC Ltd, the company's year-on-year net profit figures, for the quarter ended March 31, 2009, have gone up from Rs 324.3 crore a year before to Rs 399.34 crore.

In its filing to the stock exchange, the cement maker said that its total income also moved upward - from the year earlier Rs 1953.33 crore to Rs 2217.82 crore.