Cement – Sector Update – Price stability takes the center stage
Published on 30 Jun 2026
We interacted with cement dealers across regions in India to assess demand and pricing trends in Jun’26. Our discussions indicate that demand remained mixed during June, with North and Central markets witnessing healthy pre-monsoon construction activity, while East continued to remain subdued amid project delays while South region remained weak due to sluggish real estate activity and the lingering impact of labour disruptions. Pricing remained largely stable across most markets (except South where it declined), with no meaningful price hikes implemented during the month as companies focused on maintaining realizations amid the seasonal slowdown. Dealers expect construction activity to soften further with the onset of the monsoon, limiting near-term pricing actions. Overall, the industry has entered its seasonally weak quarter, with companies largely expected to prioritize price stability over aggressive pricing until demand improves post-monsoon. Top Picks: UTCEM, JKCE & JSWCEMEN.
