Cement Stocks Outlook
Seen trading sideways in near term
This story was originally published at 21:15 IST on 3 October 2025
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MUMBAI – Shares of cement companies are expected to continue trading sideways in the coming week amid lack of positive triggers, analysts said. "We need a fresh trigger to justify a fresh bullish momentum in cement stocks going forward," Vatsal Bhuva, technical analyst at LKP Securities, said.
"All cement stocks are trading sideways, more or less, right now. We have a non-directional vew on cement stocks," Bhuva said. Analysts remain upbeat on the longer-term view on cement stocks, primarily driven by expectations of a consumption boost which could be created by the recent cut in goods and services tax.
According to Prabhudas Lilladher, selling prices of cement fell by around INR 20-30 per bag across regions, reflecting a full pass-through of the GST-related benefits. "Near-term price hikes remain unlikely due to government mandate to pass on GST benefits; rains, labor shortages, and festive activities keeping demand subdued while pet coke is inching up," the firm said in a note earlier this week.
The fact that cement prices are unlikely to rise in the near term could weigh on the industry's revenues, especially during this seasonally strong quarter, and this could reduce their realisations in the December quarter. "Early conclusion of the festive season, coupled with an expected increase in consumption, may support volume growth and partially offset the margin impact," Prabhudas Lilladher said.
Shares of cement prices could also react to companies' quarterly earnings for the September quarter, which tends to be their weakest due to the monsoon-led demand slowdown and scheduled plant shutdowns and maintenance activities, analysts said. "We expect the EBITDA margin to remain stable at 20% in Q2FY26 (a monsoon quarter), compared to 20% in Q1FY26 (a price-driven quarter) and 13% in Q2FY25 (also a monsoon quarter) for our coverage universe," Yes Securities said in a note.
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Following are the resistance and support levels for the stocks for next week as per calculations by Informist based on their prices on the National Stock Exchange:
| Company | Price | Week-on-week change in % | Resistance | Support |
| ACC LTD | 1849.10 | 1.40 | 1868.40 | 1818.40 |
| AMBUJA CEMENTS LTD | 576.15 | 1.90 | 585.10 | 565.80 |
| ANDHRA CEMENTS LTD | 80.71 | (-)7.70 | 80.70 | 80.70 |
| GRASIM INDUSTRIES LTD | 2791.40 | 1.60 | 2828.90 | 2747.30 |
| J.K. CEMENT LTD | 6318.00 | (-)0.50 | 6457.30 | 6185.30 |
| JK LAKSHMI CEMENT LTD | 862.90 | 1.60 | 872.90 | 850.60 |
| SAGAR CEMENTS LTD | 251.45 | (-)0.30 | 261.30 | 245.10 |
| SHREE CEMENT LTD | 29180.00 | 0.90 | 29566.70 | 28796.70 |
| ULTRATECH CEMENT LTD | 12019.00 | (-)0.40 | 12203.70 | 11889.70 |
| INDIA CEMENTS LTD | 386.75 | 0.30 | 396.70 | 379.40 |
| NIFTY 50 | 24894.25 | 1.00 | 25006.10 | 24691.60 |
| BSE SENSEX | 81207.17 | 1.00 | 81638.70 | 80433.80 |
End
Reported by Anand JC
Edited by Avishek Dutta
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