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Cement stocks continued their downward spiral on Tuesday with ACC, Ambuja Cements, UltraTech Cement and Shree Cement losing more than 4 per cent on the bourses. In fact, Ambuja Cements hit a fresh 52-week low. Analysts say that their channel checks suggest that demand woes continue for these players with August cement volumes continuing to disappoint, and this is putting pressure on cement prices month after month.
Binod Modi at Reliance Securities says that dealers opine that continued slowdown in government projects led by delay in payments continues to hurt the industry. After the first quarter of FY20 seeing slower
