Cement Stocks Outlook
Seen in tight range next wk but bias remains bullish
This story was originally published at 20:14 IST on 21 November 2025
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MUMBAI – Shares of cement companies are likely to remain in a tight range in the near term, in the absence of major triggers for the sector. Though demand for cement remained muted in the September quarter due to an extended monsoon, it picked up slightly from the end of the said quarter, supported by the government's spending on infrastructure. Among some risks for the sector, higher pet coke cost could be one but its impact will likely be negated by price hikes, analysts said.
In the last few months, cement prices in the business-to-business segment fell across the board and those in the business-to-consumer category fell in southern regions and Odisha, a cement analyst at a large domestic broking firm said. In the remaining parts of the country, prices were steady in the business-to-consumer segment, he added. Valuations are at reasonable levels, the analyst said, adding that it is difficult to comment about the trends in private capital expenditure at the moment.
For most cement players, the cost of power and fuel rose sequentially in the September quarter due to higher pet coke prices and yearly planned shutdown of kilns but this was partially offset by a higher green energy mix, broking firm Prabhudas Lilladher said in its report. Freight costs remained benign, aided by stable diesel prices, lower lead distances and improved logistics efficiencies.
In an attempt to reduce cement transportation costs in the country, Union Minister for Railways, Ashwini Vaishnaw, introduced a uniform transportation rate of 90 paise per gross tonne km, a standard measure used to calculate transportation charges. The minister also announced a tank container specifically designed for bulk cement movement. "This tank container can be filled at a cement factory. After filling, it can be transported across the country to wherever consumption is needed," Vaishnaw said.
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Following are the resistance and support levels for the sector's key stocks for next week, as per calculations based on their prices on the National Stock Exchange:
| Company | Price | Week-on-week change in % |
Resistance | Support |
| ACC LTD | 1830.10 | (-)0.60 | 1867.20 | 1805.80 |
| AMBUJA CEMENTS LTD | 547.55 | (-)2.80 | 560.60 | 538.50 |
| ANDHRA CEMENTS LTD | 73.85 | (-)4.20 | 76.00 | 72.00 |
| GRASIM INDUSTRIES LTD | 2734.80 | (-)1.80 | 2772.10 | 2704.30 |
| J.K. CEMENT LTD | 5621.00 | 1.20 | 5719.30 | 5518.30 |
| JK LAKSHMI CEMENT LTD | 794.80 | (-)3.10 | 824.90 | 777.30 |
| SAGAR CEMENTS LTD | 220.11 | (-)0.60 | 224.10 | 213.90 |
| SHREE CEMENT LTD | 26480.00 | (-)0.80 | 26880.00 | 26220.00 |
| ULTRATECH CEMENT LTD | 11729.00 | (-)1.20 | 11833.00 | 11639.00 |
| INDIA CEMENTS LTD | 403.70 | 2.80 | 414.90 | 394.70 |
| NIFTY 50 | 26068.15 | 0.60 | 26226.90 | 25972.90 |
| BSE SENSEX | 85231.92 | 0.80 | 85764.60 | 84921.50 |
End
Reported by Anjana Therese Antony
Edited by Nishant Maher
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