 "UltraTech Cement")
Cement is one sector where investors have been taking positions on the hope that demand would see a revival in the 2023-24 financial year (FY24), given a rebound in the realty sector as well as a strong budgetary focus on infrastructure.
Indeed, every cement major has been committed to capex to increase capacity in anticipation of rising demand.
Another reason for optimism has been a softening of input costs. Energy costs, in particular, are down -- especially petcoke costs -- and cement production is energy-intensive and requires pet-coke as fuel. On average, the reduction should translate into savings of at least Rs 300 per tonne. Lower crude costs should also translate into lower transport costs and transport too is a
