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Informist, Friday, Jul. 31, 2026       

MUMBAI – Trading in cement stocks is likely to remain subdued in the coming week as August is considered the weakest in terms of demand and pricing. Tushar Chaudhari of Prabhudas Lilladher expects no price hikes as monsoon peaks during the month. Chaudhari is bearish on Shree Cement after the company detailed its June quarter earnings Friday.

Shree Cement Friday reported a net profit of INR 4.38 billion, down over 29% on year, for the June quarter, as its expense growth was outpaced by the on-year revenue growth. Its revenues for the quarter were at INR 56.23 billion, up nearly 14% on year. The company's total expenses for the quarter rose over 20% on year to INR 51.90 billion. This was led by a more than 29% year-on-year rise in power and fuel costs at INR 14.81 billion and a near-21% jump in freight and forwarding expense at INR 13.07 billion.

Ambuja Cements reported a nearly 34% on-year fall in its net profit for the June quarter at INR 5.77 billion. Its revenue from operations for the quarter fell 7.5% on year to INR 94.74 billion.

"Looking ahead, Aug-26 pricing will be closely monitored, as the delayed monsoon and seasonally weak demand may limit pricing power," Nirmal Bang Institutional Equities said in a sector-specific report. It expects prices to remain broadly stable in August, with a modest increase likely in September ahead of the festive season to partially offset continuous input cost pressures.

Despite the recent moderation, elevated fuel costs are likely to continue weighing on profitability in 2Q FY27 (Jul-Sept), as cement companies typically carry 45–50 days of fuel inventory, delaying the passthrough of lower spot prices," the brokerage said. On the demand front, Nirmal Bang sees it to soften temporarily in August due to labour shortages as rural and migrant workers remain engaged in paddy sowing, along with slower new construction activity during the "Shravan" period.

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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

US$1 = INR 95.28

Reported by Arundathi A R

Edited by Deepshikha Bhardwaj

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