Many analysts still remain positive about the sector's prospects, but most cement stocks have seen corrections in the last three months
Shares of cement companies have slid up to 19 per cent in the last four weeks on the NSE, against a 1.06 per cent jump in the benchmark Nifty50
Adani family was likely to sell around 3 per cent stake in Ambuja Cements via block deals
Management indicated that cement demand would remain weak until calendar year 2024-end and expects a full recovery from Q4FY25, brokerage firm MOFSL said.
India Cements stock hit a new high of Rs 343.85, surging 6% in an otherwise volatile market. The stock has zoomed 50% since June 25.
After Lok Sabha Elections and Assembly elections in some States, the centre and States are expected to retain their focus on development agenda, India Cements had said on sector outlook.
As per media reports, Adani Group was evaluating multiple cement companies like Penna Cement, Saurashtra Cement, JP Associates' cement business & Vadraj Cement for acquisition.
Cement stocks: The rally comes amid hopes of sustained push on infrastructure development and government-driven capex continuing in India
The surge in JK Lakshmi Cement share was fuelled by robust Q4FY24 results, which came in line with street estimates
Cement stocks investment strategy: Investors with a long-term horizon may strategically accumulate shares of fundamentally strong cement companies
Dalmia Bharat stock update: Dalmia Bharat stock tumbled in Thursday's trade after the company reported a 50 per cent drop in Q4 net profit on a YoY basis.
Analysts believe cement demand would remain healthy aided by expedited pre-election government spend, continued focus of infrastructure development.
Nomura estimates margins to expand on stronger volume growth, pricing discipline and relatively lower fuel cost
Shares of Mangalam Cement hit a new high of Rs 694.40 as they surged 16 per cent on the BSE in Friday's intraday trade
A sharp surge in the stock price has seen the market capitalisation of this Aditya Brila Group firm near the Rs 3 trillion mark, BSE data shows.
While Q2 was decent despite seasonally weak, higher prices and operating leverage point to better prospects
Ambuja Cements Q1FY24 results: Shares of Ambuja Cement slipped 2 per cent in the intra-day trade to Rs 452 apiece
Management expects Ebitda growth to sustain with further improvement expected due to various efficiency and operational initiatives
The broader trend in the cement sector remains optimistic, price action riding along the overall bullish sentiment
UBS and Nomura expect volume growth of 10 per cent and 8 per cent, respectively, in FY24 aided by an uptick in the real estate cycle.