Cement Stocks Outlook
Demand may rise Dec qtr; retail prices seen stable QoQ
This story was originally published at 17:38 IST on 26 December 2025
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MUMBAI – Demand for cement is expected to rise on year in the December quarter. Analysts expect the pricing to be broadly stable on a sequential basis on the retail side while non-trade side could see some volatility.
"Cement demand in Q3 (December quarter) of 2025-26 (Apr-Mar) is expected to grow by around 6%," said Jyoti Gupta, research analyst at Nirmal Bang Institutional Equities. She said that this projection factors in weak demand during October, followed by a noticeable improvement in November. Further, Gupta said December has been marginally better than November, which has supported the overall recovery trend through the quarter.
Ambuja Cements is likely to continue its growth momentum following its approval of the scheme of amalgamation of ACC and Orient Cement. "This merger is a long-awaited structural fix for Ambuja Cements, enabling value unlocking through simplification, cost reduction, and improved governance," Gupta said. She expects cost savings of INR 100 per tonne from supply chain optimisation alone. Further, the merger unlocks immediate tax benefits, contributing to margin improvement from the first year, she said. Shares of Ambuja Cements ended higher for the fifth straight session, gaining 3.5%.
TOP HEADLINES
* UltraTech Cement commissions 1.8 mtpa more capacity, total now at 194 mtpa
* JK Cement preferred bidder for Kishanpura limestone block in Rajasthan
* Shree Cement withdraws Raipur unit lockout on Mon after reaching settlement
* Ambuja Cements board approves amalgamation of ACC, Orient Cement
* UltraTech Cement gets INR-3.90-bln tax demand order from Patna tax dept
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 | 1735.30 | (-)0.90 | 1764.40 | 1710.40 |
| AMBUJA CEMENTS LTD | 554.65 | 2.80 | 559.40 | 545.80 |
| ANDHRA CEMENTS LTD | 69.48 | 3.00 | 71.70 | 65.60 |
| GRASIM INDUSTRIES LTD | 2817.70 | 0.20 | 2853.60 | 2791.40 |
| JK CEMENT LTD | 5685.50 | 4.90 | 5805.20 | 5553.20 |
| JK LAKSHMI CEMENT LTD | 775.90 | (-)1.00 | 805.90 | 753.10 |
| SAGAR CEMENTS LTD | 210.65 | 1.20 | 217.10 | 204.40 |
| SHREE CEMENT LTD | 26420.00 | 3.20 | 26746.70 | 25906.70 |
| ULTRATECH CEMENT LTD | 11794.00 | 2.60 | 11909.30 | 11685.30 |
| INDIA CEMENTS LTD | 441.30 | 0.80 | 454.00 | 427.20 |
| NIFTY 50 | 26042.30 | 0.30 | 26200.60 | 25929.40 |
| BSE SENSEX | 85041.45 | 0.10 | 85560.00 | 84678.60 |
End
Reported by Arundathi AR
Edited by Akul Nishant Akhoury
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