Outlook for cement is "sanguine": CARE Ratings

Outlook for cement is "sanguine": CARE Ratings

The first two quarters were clear washout for the cement business. However green shoots were seen from third quarter onwards. The initial pickup in numbers happened due to pent up demand since economy started on positive note after a major disruption. The capacity utilisation is also set to improve. "Budgetary allocation made towards roads development, housing and rural infrastructure is slated to lead to an increase in demand for the months to come but at the moment the industry is riddled with the COVID-19 pandemic and issues associated with it.

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