The cement sector will be on watch today after Nomura released a positive sector update, highlighting that significant price hikes in South India are driving overall price momentum for the June quarter.
Pan-India, trade prices increased ₹2 per bag month-on-month (MoM) in June, and prices are now up ₹12 per bag quarter-on-quarter (QoQ) for Q1FY26.
In the Southern region, price momentum is the strongest — trade prices rose ₹19 per bag MoM in June, and are now up ₹36 per bag QoQ for Q1.
In contrast, Eastern region prices fell ₹2 per bag MoM in June, though still up ₹26 per bag QoQ.
Northern region prices remained flat MoM and flat QoQ in Q1FY26.
In the Western region, prices declined ₹5 per bag MoM, but are still up ₹4 per bag QoQ.
In the Central region, prices decreased ₹3 per bag MoM in June, and are now down ₹4 per bag QoQ.
Overall, Nomura flagged that the sharp price hikes in South India are offsetting price moderation in other regions, helping support blended pan-India pricing trends in Q1. The firm remains constructive on the sector’s near-term earnings outlook, with South pricing momentum a key monitorable going forward.
Disclaimer: This article is for informational purposes only and does not constitute investment advice.
