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Informist, Friday, Jan. 16, 2026

MUMBAI – Most cement stocks are likely to trade with a positive bias in the coming week as brokerages have turned positive on the sector outlook, on early signs of demand recovery and improving pricing trends across regions. After two years of muted momentum around the Makar Sankranti period, analysts believe 2026 has begun on a relatively stronger footing, with both volumes and prices showing encouraging movement.

According to Anand Rathi Research, channel checks indicate that cement volumes started picking up meaningfully from early December itself, supported by factors such as a favourable base effect after two subdued years and a gradual revival in construction activity. Cement companies have already announced price hikes across most regions and customer segments in January, which dealers expect to sustain on the back of firm demand conditions.

Region-wise, southern India has seen some of the sharpest price actions. In Bengaluru, trade prices were raised by INR 10–20 per bag and non-trade prices by around INR 20 per bag in the first week of January, with dealers expecting another round of hikes after Sankranti. In Hyderabad, a steep INR 50 per bag hike announced on Jan. 1 has largely held so far, reflecting healthier demand sentiment. The northern region shows a mixed picture--Jaipur has witnessed strong infrastructure-led demand, enabling INR 15 per bag hikes in both trade and non-trade segments, while the National Capital Region continues to face seasonal disruption due to fog and pollution, limiting non-trade hikes to around INR 5 per bag.

Emkay Global has a cautiously optimistic stance, noting that non-trade prices have risen by an average of INR 15–INR 20 per bag across most regions, while trade segment hikes have been more selective. Although demand momentum softened slightly in early January after a strong push in the second half of December, analysts expect a sustainable improvement through March. Successful absorption of January hikes could pave the way for another round of increases in early February. Brokerages believe companies with higher exposure to the non-trade segment--Dalmia Bharat, UltraTech Cement, JK Cement and JSW Cement--stand to benefit the most if price hikes sustain.

On Friday, UltraTech Cement ended 1% higher at INR 12,378. Out of four sessions this week, the stock traded in the green in three sessions. JK Cement rose over 3% to INR 5,885. Shree Cement gained over 1% to close at INR 27,840. Dalmia Bharat ended 0.7% lower at INR 2,162. JSW Cement ended slightly higher at INR 121.73 on Friday.

TOP HEADLINES

* Earnings Review: Nuvoco Vistas posts profit in Q3 on higher volumes
* CareEdge Global assigns "BBB+" long-term rtg to Shree Cement; outlook stable

Following are the resistance and support levels for key cement stocks for next week as per calculations based on their prices on the National Stock Exchange:

End

Reported by P. Madhu Kumar

Edited by Ashish Shirke

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