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Informist, Friday, Feb. 27, 2026

MUMBAI – The bias for cement stocks is seen negative in the upcoming sessions, according to technical analysts. Two brokerages in their monthly updates wrote that price hikes are likely to remain moderate in the coming months, but expect the March quarter to be better due to seasonality. Demand has improved in February on a sequential basis, both Elara Capital and YES Securities said, with the latter adding that, "the recovery appears largely driven by year-end dynamics rather than a structural acceleration in demand."

Elara Securities believes margins will improve sequentially in March quarter for cement companies, supported by operating leverage and modest price increases, largely driven by the non-trade segment. Despite healthy demand conditions, price gains in Jan-Mar are likely to remain moderate as continued volume push to meet year-end targets may cap pricing discipline in March. Elara expects material price rise to get absorbed by the market only in Apr-Jun.

Channel checks suggest that any price hikes in March are unlikely to sustain, given limited acceptance from dealers and temporary demand disruptions due to the festival season and upcoming state elections, the two brokerages said. Dealers, however, expect price revisions to be attempted in April, in line with the typical start-of-year pricing cycle, YES Securities said. 

According to YES Securities, significant near-term price hikes appear unlikely due to intense competition among larger players, making it difficult to pass on input cost pressures fully. However, industry leaders with higher green energy usage, reduced lead distances, and better operating efficiency are likely to outperform, the broking firm said. "We do not expect any positive surprises in Q4 (Jan-Mar), despite it being a seasonally volume-driven quarter," it said.

During the week, India Cements, Shree Cement, and Ambuja Cements declined 2-4% and were hit the hardest among peers this week. Only Andhra Cements, The Ramco Cements, and JK Lakshmi Cement closed with gains during the week. "Majority of Cement stocks, barring UltraTech Cement and Ramco (both are candidates for buying on dips), are indicating negativity trends in the near term," said Vipin Kumaar, assistant vice president – technical and derivatives at Globe Capital Market.

TOP HEADLINES

* Ramco Cements sells non-core assets to Rainbow Foundations for INR 595.6 mln 

* Shree Cement commissions 3.65 mtpa clinker capacity at Karnataka plant 

* Prism Johnson's cement division launches gypsum plaster, Prism Chakachak

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 Gopika Balasubramanium

Edited by Ashish Shirke

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