Cement Sector Check - Q3 Price Remains Up, Consensus Upgrading Ebitda: IDBI Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Our interaction with cement dealers suggests that the cement price at all India level has marginally decreased by 1% month-on-month in November 2023. After factoring Nov-23 weakness, Q3 FY24 avg cement price (i.e. Oct-23 and Nov-23) is still up 2.5% QoQ (i.e. Rs 200/tonne) with South prices are up ~4% and East is up 7% so far. Energy prices have decreased in Nov-23 given weakness in crude, with imported coal (RB index 6000 kcal) is down 11% (~Rs 250/tonne) versus Oct-23. Price uptick and costs weakness is positive for cement companies and we expect further upgrade in the cement stocks Ebitda. In the last two quarters we have seen consensus has upgraded cement Ebitda (top 14 cement players) for FY24E and FY25E by 1% and 2% respectively. And importantly, this upgrade has come after weak four quarters of FY23 which was impacted from costs. We prefer ACC Ltd. and Ultratech Ltd..Click on the attachment to read the full report:.Byju's Taken To NCLT By BCCI .DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Cement Sector Check - Q3 Price Remains Up, Consensus Upgrading Ebitda: IDBI Capital

Average cement prices at an all-India level was -1% month-on-month in November 2023.

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Cement Sector Check - Q3 Price Remains Up, Consensus Upgrading Ebitda: IDBI Capital

Average cement prices at an all-India level was -1% month-on-month in November 2023.

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