Cement Stocks Outlook
Likely to rise next week as demand seen stable in Q1
This story was originally published at 19:14 IST on 17 April 2026
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MUMBAI – Cement stocks are likely to continue their upward trend in the near term, as positive sentiment from the de-escalation of tensions in West Asia is expected to benefit the sector, analysts said. They also expect cement demand to remain stable in the first quarter of 2026-27 (Apr-Mar).
"The government spending on infrastructure will gain momentum if no further disruptions happen in the West Asia conflict," Tushar Chaudhari, equity research analyst at PL Capital Group – Prabhudas Lilladher, said.
Cement companies are expected to give a good set of results for the March quarter on a year-on-year basis, supported by sustained individual housing demand and a pick up in the non-trade segment, Systematix Institutional Equities said in a report. According to the brokerage, cement companies are likely to report healthy sales volume growth of around 8% on year as demand normalises in the seasonally strong March quarter.
Chaudhari of PL Capital Group expects UltraTech Cement and JK Cement to outperform their peers. Shares of UltraTech Cement gained 2.6% this week, while those of JK Cement shed 3.1% during the period. JK Lakshmi Cement was the top gainer among cement companies during the week, rising 7.8%.
Meanwhile, Crisil Intelligence said in a report that operating margins of cement companies are expected to fall 150–200 basis points in 2026-27 (Apr-Mar) to 16–18%, as rising energy prices amid the West Asia conflict increase power and fuel costs.
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The 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:
| Company | Price | Week-on-week change in % |
Resistance | Support |
| ACC LTD | 1,432.20 | 0.50 | 1,458.50 | 1,415.10 |
| AMBUJA CEMENTS LTD | 459.00 | 3.10 | 464.90 | 453.20 |
| ANDHRA CEMENTS LTD | 57.92 | 1.00 | 59.60 | 56.80 |
| GRASIM INDUSTRIES LTD | 2,720.50 | (-)0.80 | 2,760.80 | 2,672.20 |
| JK CEMENT LTD | 5,543.00 | (-)3.10 | 5,627.00 | 5,428.00 |
| JK LAKSHMI CEMENT LTD | 673.70 | 7.80 | 695.20 | 643.30 |
| SAGAR CEMENTS LTD | 185.19 | 1.90 | 191.90 | 177.90 |
| SHREE CEMENT LTD | 25,290.00 | 3.90 | 25,493.30 | 24,953.30 |
| ULTRATECH CEMENT LTD | 11,886.00 | 2.60 | 12,044.00 | 11,658.00 |
| INDIA CEMENTS LTD | 415.60 | 7.70 | 425.90 | 403.20 |
| Index | Levels | |||
| NIFTY 50 | 24353.55 | 1.30 | 24549.70 | 23998.00 |
| BSE SENSEX | 78493.54 | 1.20 | 79085.00 | 77430.50 |
End
Reported by Arundathi A R
Edited by Saji George Titus
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