Pollution curbs, infra inactivity to dampen India cement demand, brokerage says

ACC

26/11/2024 09:58

** Pollution restrictions in north India; nationwide lack of
infrastructure projects to play "spoilsport" for near-term
cement demand, Prabhudas Lilladher says in a note
    ** Brokerage says cement demand in Delhi declined in
November due to pollution curbs
    ** Adds spending on construction activities "subdued" across
all regions - east, west, north, central and south
    ** In west markets, demand was pressurised due to absence of
projects ahead of Maharashtra state elections, PL says  
    ** Expects significant uptick in government-funded projects
in Maharashtra after ruling party's win in state polls,
brokerage adds
    ** Prabhudas Lilladher's top picks: UltraTech Cement
 ULTC.NS , Adani-owned Ambuja Cements  ABUJ.NS  and ACC  ACC.NS 
 
    ** ULTC down 2.7% on the day
    ** ABUJ and ACC fall 2% and 1%, respectively, as part of a
wider drop in Adani group stocks 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))