Cement Check - High Pricing Optimism; Upcoming Festival Season To Be The Real Litmus Test: ICICI Securities

ICICI Securities Report

The pricing optimism, expressed by several sector experts and intermediaries, towards the end of September 2023 remains high across regions.

Living up to the feedback of a ripe expectation, cement prices have indeed seen a sharp spike in South India in October 2023 and its rub-off effect has been witnessed in West India as well.

Although with some lag (announced in end Sep-23 but implemented in Oct-23), hikes are seen getting absorbed in North and Central India, too.

While pricing optimism is on a high, its sustainability in the upcoming festive season may be the real litmus test. We maintain our stance that even as fundamental sector concerns remain intact; the hikes may improve cement sector sentiment in the near term.

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