Indian cement makers gain on government's tax cut

Ultratech Cement

04/09/2025 04:55

** Indian cement makers gain between 1.5% and 3.3%

** Stocks rise as traders welcome government's decision to cut the GST rate on cement down to 18% from 28%

** Ambuja Cements ABUJ.NS leads gains with a 3.3% climb, top cement maker UltraTech Cement ULTC.NS jumps 2.5%

** ACC ACC.NS and Sagar Cement SGRC.NS climb 1.2% and 1.5%, respectively

** CLSA see a strong positive impact for cement companies from GST cut

** Says GST cut slightly less significant for demand, but price hikes could boost cement makers' profitability; a 1% price rise may lift EBITDA by 4%–5%

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))