Cement companies under pressure; UltraTech Cement, Ambuja hit 52-week low

India Cements, Sanghi Industries, Birla Corporation, Andhra Cements, Orient Cement, NCL Industries and Mangalam Cement were down 30% to 40% thus far in 2018.

Shares of cement companies were under pressure with most of the frontline stocks hitting 52-week lows on concerns of a delay in the pickup of demand trends, lower-than-expected pricing realizations and higher-than-expected increases in costs.

UltraTech Cement, Ambuja Cement, ACC, JK Cements, Shree Cement, India Cements and Panyam Cement have hit their respective 52-week lows on the BSE in intra-day trade on Thursday.

Thus far in the current calendar year 2018, the market values of mid and small-sized cement companies like India Cements, Sanghi Industries, Birla Corporation, Andhra Cements, Orient Cement, NCL Industries and Mangalam Cement were down