Indian cement prices are softened by Rs 15-20/bag MoM in August due to a lean monsoon period. However, on YoY basis, prices are up 5%, given the weak base last year and tight production discipline in the Southern and Western regions.

''Our channel checks suggest that off-take has been weak so far in August on account of monsoon and high base in the last month. However, they expect strong pick-up in both demand and prices in September with the rebound in infra demand and private spending,'' said Prabhudas Lilladher (PL).

''Despite sharp run-up in stock prices, we continue to maintain our Overweight outlook on the sector, given the ample leg room left for valuations to reach peak levels and strong outlook on the earnings. We like ACC, UltraTech and Shree Cement in the large caps space, while, in midcaps space, we remain positive on JK Lakshmi and Ramco Cements,'' it opined.

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