BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
India’s cement industry has shown resilience amid the phase-wise opening up of the economy in a seasonally weak quarter.
The volume recovery seen in May and June, driven by strong demand from the rural and semi-urban areas, has largely sustained in Q2 FY21 (adjusted for monsoon seasonality).
As per our channel checks, we estimate industry volumes to have grown 3% YoY / 33% QoQ in Q2 FY21.
Higher growth was reported in North and East, while demand remained weak in South and Maharashtra (down 15–20% YoY).
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