ICICI Securities: Cement Demand, Prices Improve Further In October
Indian labourers unload bags of cement from a truck in Gurgaon (Photographer: Adam Ferguson/Bloomberg News)

ICICI Securities: Cement Demand, Prices Improve Further In October

BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Our channel checks suggest cement demand has further improved by 8-10% month-on-month in October 2020 on the back of approximately 20% month-on-month improvement seen during September 2020.

This would translate to mid-teens YoY growth for October 2020 on low base (down approximately 8% YoY during October 2019) due to shift of festive holidays to November 2020 this year.

Management as well as consensus commentaries on FY21E demand outlook are likely to turn incrementally positive.

Click on the attachment to read the full report:

ICICI Securities Cement Monthly Update.pdf

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