Equity Analysis /
India

IN : Constrn & Material - Overall - Weekly Cement Compendium

    CGS-CIMB
    8 January 2022
    Published byCGS-CIMB

    3QFY22F margins are likely to be lower qoq due to cost inflation and price roll-back in Nov and Dec 2021 on account of weak demand. As per our channel checks, companies have announced price hikes of Rs10-20/bag across regions in Jan 2022, but they are yet to be implemented fully. We maintain our Overweight stance on the sector, with UTCEM and TRCL as our top stock picks. We also like PRSMJ and ORCMNT.