Cement prices in India likely to firm after Q2FY25, Centrum says

Shree Cement

19/06/2024 09:05

** Cement prices across India are expected to improve after
Q2FY25, analysts at brokerage Centrum say citing dealers 
    ** Q1 prices were largely at same levels as in Q4FY24, when
pan-India cement prices fell to two-year lows, brokerage adds  
    ** Expects muted near to medium term pricing as top players 
such as UltraTech  ULTC.NS  and Adani's Ambuja  ABUJ.NS  and ACC
 ACC.NS  battle for pole position in terms of capacity 
    ** Centrum expects FY25 demand to get a boost from govt's
housing schemes, road spending
    ** Flags Shree Cement's  SHCM.NS  brand revamp to compete
better with rivals "slow in gaining ground" 
    ** On the day, ULTC, ABUJ, ACC down between 1%-1.2%, SHCM up
0.4% while benchmarks trade flat  .BO 

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