Nomura has reiterated a positive view on the cement sector, noting that cement spreads are improving with an upward trend in cement prices.
Key highlights:
Cement prices rose ₹2 per bag month-on-month in June
First quarter FY26 prices are up ₹12 per bag quarter-on-quarter
Average global fuel costs remain stable; spot prices suggest a downward trend
Nomura remains bullish on long-term sector tailwinds and prefers Ambuja Cement, Ultratech Cement, Shree Cement, and Ramco Cements.
It maintains ‘Reduce’ ratings on Dalmia Bharat, ACC, and Nuvoco.
Disclaimer: The views and target prices mentioned in this article are as stated by Nomura. They do not represent the opinions or recommendations of this publication. Readers are advised to consult their financial advisors before making any investment decisions.
