Systematix sees Indian cement sector's demand, prices recovering in Q4

Ultratech Cement

04/03/2025 09:44

** India's cement sector demand to gain momentum in coming months - Systematix Equities

** Improvement to come after months of weak pricing and volume due to lower govt capex, religious festival Maha Kumbh, and fiscal year-end push for more sales - brokerage

** Brokerage's top picks remain Ultratech Cement ULTC.NS and Ambuja Cements ABUJ.NS

   ** On the day, both buy-rated ULTC and ABUJ up less than 1%

   ** Pan-India price improved 2% month-on-month, with momentum in North India offset partially by flat pricing in the south, says brokerage

   ** Adds, overall pricing has recovered by 10% from the August 2024 low

   ** Systematix expects 7%-8% vol growth y/y in Jan- March qtr

   ** ULTC up 4.17% and ABUJ down ~23% in the last 12 months

 (Reporting by Ananta Agarwal in Bengaluru)

 ((Ananta.Agarwal@thomsonreuters.com))