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Street cuts FY20 growth estimate as demand woes continue for cement players

Prices remain on a declining trajectory, slowdown in government projects led by delay in payments continues to hurt industry

Topics
Cement production | cement firms

Ujjval Jauhari  |  New Delhi 



The company had accumulated loss of ~103 crore as on end-March, 2018, according to its annual report
Photo: iStock

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.

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First Published: Tue, September 03 2019. 19:10 IST

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