Accumulate Orient Cement; target of Rs 184: Emkay

Emkay’s research report on Orient Cement Sales volume in April-May remain better compared to industry average in its key markets (South and West) region helped by higher exposure to the West region. Price in the South region remained better compared to other regions, weakness seen in the West region Gulbarga, Karnatak plant with a capacity of 3mtpa is expected to start commercial production by end-July ’15. Trial-run will start from mid-July ‘15