Cement price hikes fail to sustain

Brokerages remain cautious on the cement sector as price increases that began in April have failed to sustain. Sluggish demand and the onset of monsoons suggest price moderation should continue and margins could peak near term in the June quarter. Cement prices in June 2019 have corrected by 2 per cent or Rs 7 per kg, reversing the increase in May. While Ambuja Cement and ACCNSE 0.43 % declined 5 per cent each in the past month, UltraTech gained just a percent. The other two cement majors such as Shree CementNSE -0.21 % and Grasim gained 5 per cent and 6 per cent, respectively.