Cement stocks surge as producers raise prices for September

05 Sep 2023 CW Team

Shares of cement companies witnessed a rally on Monday following price hikes for September ranging from 3% to 10% in east, west, and central India. Companies such as UltraTech Cement, ACC, Ambuja Cements, Shree Cements, Dalmia Bharat, Gujarat Ambuja Exports, Birla Corp, Ramco Cements, Nuvoco Vistas, ACC, and Ambuja Cements saw gains of 2% to 9% on the NSE.

While the September quarter is typically weak for cement producers due to reduced construction activity, strong demand in August, attributed to below-average monsoon rains, allowed companies to implement price increases this month. Cement prices have risen by ₹10-35 per 50kg bag, with the steepest hikes observed in eastern India, according to Jefferies. There's also potential for further price hikes in this region by mid-month, the brokerage noted.

Despite a 2% month-on-month decrease in the average cement prices in India to ₹358 per bag in August, prices remained relatively stable compared to the previous year, particularly in central and south India.

The market's response to these price hikes and the sustainability of these increases will be key factors impacting cement shares. The surge in cement company stocks is further supported by higher-than-usual trading volumes, with many reaching multi-month highs.

While robust demand is expected in the cement sector this year due to infrastructure and housing investments, the addition of incremental capacities by several cement producers may keep pricing competitive, experts caution. Lower fuel costs have also contributed to improved profitability, although the pricing trend will remain critical in the September quarter.

In addition to the positive momentum in the cement industry, Shree Cements received a boost after Nomura Financial upgraded its rating on the company's shares from 'reduce' to 'buy,' setting a target price of ₹28,700."

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..