Road Transport Ministry to Focus on Quality Construction and Highway Maintenance in 2025

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December 31, 2024

Road Transport Ministry to Focus on Quality Construction and Highway Maintenance in 2025

The Ministry of Road Transport and Highways (MoRTH) is set to shift its focus in 2025 towards enhancing the quality of construction and the maintenance of National Highways (NHs). After a remarkable achievement of constructing over 56,700 km of NHs in the last decade, the government is now prioritising the sustainability and quality of the roads, in line with its long-term vision for road infrastructure development.

Since 2013-14, the total length of National Highways in India has surged from 0.91 lakh km to an impressive 1.46 lakh km, a significant expansion. However, the Ministry has been grappling with criticism over the quality of certain highway stretches, such as the Delhi-Jaipur (NH-48) and the Amritsar-Jamnagar Economic Corridor, which have been subject to public scrutiny, particularly on social media. To address these concerns, MoRTH has been working on strategies to ensure better standards for new and ongoing highway projects. New Highways Secretary, V Umashankar, has held several meetings aimed at bolstering construction quality and improving highway maintenance.

Union Minister for Road Transport and Highways, Nitin Gadkari, has voiced his dissatisfaction with the poor quality of some highways, urging faster corrective measures to ensure better road safety and smoother journeys. In response, the National Highways Authority of India (NHAI) has introduced a performance-based rating system for concessionaires involved in the construction and maintenance of NHs. This new system will evaluate the quality of their work bi-annually, with the ratings being published on NHAI’s official website and social media platforms to maintain transparency and accountability. As part of its 2025 roadmap, NHAI aims to set new benchmarks for both the construction quality and management of National Highways. This initiative is expected to improve the travel experience for millions of highway users, making journeys safer and more seamless. The ministry is also pushing for the completion of major expressways that have faced delays, including the Delhi-Mumbai Expressway, Delhi-Dehradun Expressway, and Bengaluru-Chennai Expressway. All three projects are expected to be completed by 2025, significantly enhancing connectivity and reducing travel time across key regions.

Additionally, MoRTH is shifting towards a corridor-based approach for highway development, moving away from the traditional project-based strategy. This new model aims to improve logistics efficiency, ensure consistency in construction quality, and prioritise user convenience. As part of this shift, a network of 50,000 km of high-speed highways has been identified through data-driven studies, with the intention to support India’s goal of becoming a $30 trillion economy by 2047. To ensure barrier-free travel, MoRTH plans to implement a multi-party interoperable toll collection system based on satellite navigation technology. This will be part of the broader initiative to modernise the tolling system and enhance revenue generation for road maintenance.

Looking ahead, the Indian road infrastructure sector is poised for further growth, supported by progressive policies and increased investments. Experts predict that the shift towards quality construction, improved maintenance, and innovative tolling systems will not only boost the efficiency of National Highways but also contribute to the overall development of India’s transport infrastructure. With an ambitious roadmap ahead, the focus on quality construction and maintenance is expected to significantly elevate the standard of National Highways, ensuring that India’s road transport system can meet the growing demands of a rapidly developing economy.

Hyderabad Contributes ₹4 Lakh Crore to Real Estate

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December 31, 2024

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Hyderabad Contributes ₹4 Lakh Crore to Real Estate

In 2024, Hyderabad cemented its position as a key player in India’s residential real estate sector, recording significant growth with over 0.7 lakh registered property transactions. This translated into an impressive contribution of Rs 0.4 lakh crore to the nationwide performance, according to a comprehensive report by Square Yards. The city emerged as a dominant force in the southern region, closely trailing Bengaluru in terms of transaction volume, underlining Hyderabad’s growing importance as a preferred real estate hub.

Nationally, the residential property market witnessed a marked increase in activity, with 5.77 lakh units transacted in 2024, reflecting a 4% rise compared to the previous year. The total transaction value exceeded Rs 4 lakh crore, representing a 2% year-on-year growth. Western cities, particularly Mumbai, Thane, Navi Mumbai, and Pune, continued to dominate, accounting for 61% of transactions and 69% of the total sales value. In the south, however, Bengaluru led with 0.8 lakh transactions, despite a slight dip caused by the introduction of E-khata regulations. Hyderabad followed closely, achieving 80% of Bengaluru’s transaction volume, signalling its growing appeal to both investors and homebuyers.

The report also shed light on the significant price growth across major cities, driven by robust demand for residential properties. Gurugram recorded a staggering 132% price increase over the last five years, largely fuelled by the demand for luxury housing. Hyderabad saw a more balanced 43% price growth, reflecting the city’s stable and sustainable market development. Other cities like Bengaluru and Pune also experienced substantial price hikes, with increases of 66% and 60%, respectively. This price growth indicates a clear demand for quality housing, with buyers increasingly seeking properties that offer both value and luxury.

In response to this surge in demand, developers across Hyderabad and other major cities launched 3.9 lakh new residential units in 2024, catering to the growing preference for gated communities and lifestyle-oriented properties. The strong demand was mirrored in the national housing sector, where over 4 lakh residential units were completed during the year. The confidence in the real estate sector was further reflected in the stock market, where the NIFTY Realty Index emerged as the top-performing sectoral index, registering a 40% gain year-to-date.

Looking towards 2025, Square Yards projected a promising outlook for India’s real estate sector, with developers set to launch over 3.6 lakh units in the coming year. This growth is supported by a robust pipeline of projects covering 300 million square feet, with Hyderabad’s real estate market expected to continue its upward trajectory. This sustained growth, combined with a focus on sustainable development, positions Hyderabad as a model for balanced, eco-friendly urban development in the future.

As Hyderabad’s real estate market continues to flourish, it represents a shift towards more sustainable and community-focused urban planning. The growing demand for eco-conscious living spaces, coupled with the city’s focus on infrastructure development, is positioning it as a leader in urban sustainability. This long-term growth strategy ensures that Hyderabad remains a strong contender for both residential and commercial investments, providing investors with an attractive and sustainable avenue for growth in the coming years.

In conclusion, the rise of Hyderabad as a dominant force in India’s residential real estate market is a testament to the city’s economic dynamism and evolving appeal. With developers increasingly focusing on lifestyle-oriented, sustainable properties and a strong market outlook for 2025, Hyderabad is set to maintain its position as a key player in the real estate sector, offering investors and homebuyers alike a secure and profitable future.

CREDAI-MCHI to Unveil India’s First Quick Real Estate Mall at 32nd Property & Home Finance Expo

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December 31, 2024

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CREDAI-MCHI to Unveil India’s First Quick Real Estate Mall at 32nd Property & Home Finance Expo

CREDAI-MCHI, the apex body representing real estate developers in the Mumbai Metropolitan Region (MMR), is set to redefine home buying with the launch of India’s first-ever Quick Real Estate Mall at the upcoming 32nd CREDAI-MCHI Property and Home Finance Expo. Scheduled from January 17 to 19, 2025, at the Jio World Convention Centre, the event will introduce a groundbreaking approach to home buying, tailored to empower women and streamline the purchasing process.

This year’s expo will place a strong emphasis on Pink Sunday, a dedicated initiative focused on empowering women homebuyers through the MCHI STREE Awas Yojana. This program underscores CREDAI-MCHI’s commitment to making homeownership more inclusive and accessible for women, aligning with its vision of fostering transparency, trust, and empowerment in the real estate sector. By addressing the unique needs of women in the home-buying journey, the initiative ensures a supportive and welcoming environment for aspiring homeowners.

Speaking about this transformative initiative, Mr. Dominic Romell, President of CREDAI-MCHI, emphasized, “The Quick Real Estate Mall is a reflection of our vision to transform the real estate sector with innovation and customer-centric solutions. By streamlining the home-buying process and introducing unique features, we are making homeownership more accessible, especially for first-time buyers. This is not just an event; it is the beginning of a new era in Indian real estate.”

He added, “This expo is designed to provide an unparalleled experience to buyers. From the Friday Ambassadors Connect, which will see the participation of over 5,000 channel partners, to the Super Saturday Sale offering exclusive deals, we have planned engaging initiatives to benefit everyone involved.”

Nikunj Sanghvi, Chairperson of the Expo and Treasurer of CREDAI-MCHI, remarked, “We are thrilled to present this groundbreaking initiative to redefine how people experience real estate. With dedicated efforts like Pink Sunday and the Quick Real Estate Mall, we aim to address the evolving demands of homebuyers while empowering women to take confident steps towards homeownership. This expo will set a new benchmark in creating an accessible and inclusive home-buying ecosystem.”

The Quick Real Estate Mall is poised to revolutionize the home-buying experience by enabling prospective buyers to book their dream homes and secure loan approvals within just ten minutes. This innovative concept addresses the growing demand for convenience and efficiency, streamlining the entire process and setting a new standard in the industry. With this initiative, CREDAI-MCHI aims to enhance accessibility for first-time buyers and create a seamless experience for all participants.

The three-day event will also host prestigious awards ceremonies, including the Golden Pillars Awards and Spaciux Awards for Architects, celebrating excellence and innovation in the real estate sector. These initiatives aim to create an engaging platform for developers, financial institutions, and homebuyers to connect, collaborate, and explore new opportunities.

NRI Investors Drive Growth in Indian Property Market

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December 31, 2024

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NRI Investors Drive Growth in Indian Property Market

The Indian real estate market is currently experiencing a remarkable surge in interest from Non-Resident Indians (NRIs), driven by a confluence of favourable economic conditions, regulatory reforms, and evolving buyer preferences. With the festive season further enhancing momentum, NRIs are now viewing the Indian property market not just as a home-buying opportunity but as a stable and profitable investment avenue, in alignment with global investment strategies.

The reasons behind the growing appeal of Indian real estate to NRIs are manifold, with both emotional and financial motivations playing a significant role. With the Indian Rupee’s favourable exchange rates, NRIs now have greater purchasing power, making it easier for them to secure valuable assets. Additionally, government initiatives such as the Real Estate Regulatory Authority (RERA) and the Goods and Services Tax (GST) have brought transparency and efficiency to the sector, creating a more reliable investment climate. As Mukul Bansal, Managing Director of Motiaz Group, explains, “The real estate sector has seen a transformation, with NRIs now seeking high-value investments that meet global living standards. Our developments in Chandigarh Tricity align perfectly with these demands, offering not only luxury but also sustainability and long-term growth potential.”

Chandigarh Tricity, comprising Chandigarh, Mohali, Zirakpur, and Panchkula, has emerged as the top choice for NRIs seeking real estate opportunities. The region offers a compelling blend of world-class amenities, top-tier healthcare facilities, renowned educational institutions, and strategic proximity to key commercial hubs. This combination makes it an ideal destination for both residential and commercial investments. Furthermore, the region’s infrastructure growth, including smart city initiatives, positions it as a highly attractive and future-proof choice for NRI investors looking for stable and appreciating asset values.

Regulatory reforms have played a pivotal role in creating a favourable environment for NRI investments. Advanced technologies, such as blockchain-based property registration systems and AI-driven analytics, are simplifying the process for NRIs to invest remotely. Virtual property tours have also become an indispensable tool, allowing buyers to explore properties without leaving their homes abroad. Piyush Kansal, Executive Director of Royale Estate Group, elaborates, “NRIs demand more than just a home; they seek assurance in quality, timely delivery, and compliance with legal norms. With technology enabling seamless transactions, we can now provide NRIs with a hassle-free experience while delivering projects that are in line with their expectations.”

From luxury villas to smart office spaces, real estate developers are responding to the diverse needs of NRI buyers. A pronounced shift towards gated communities equipped with advanced security features, green spaces, and smart home technologies is evident. As Tejpreet Singh Gill, Managing Director of Gillco Group, points out, “NRIs are looking for a perfect balance of luxury, convenience, and connectivity. Our virtual site visits and digital transaction processes ensure they can invest from anywhere in the world. Chandigarh Tricity’s blend of urban sophistication and cultural familiarity resonates deeply with them.”

The growth of NRI investments is reshaping the landscape of the Indian real estate market, and as developers tailor their offerings to meet international standards, the outlook for this sector looks exceptionally promising. The focus on sustainability and green living in developments further adds to the long-term appeal of these investments. The Chandigarh Tricity region, with its rapid infrastructural development, eco-friendly initiatives, and high quality of life, serves as a beacon of opportunity for NRIs looking to invest in a reliable and forward-thinking real estate market.

In conclusion, the current NRI investment season is not just a trend but a transformative shift in the Indian real estate market. With developers increasingly focusing on sustainability, technological innovation, and providing high-value properties that align with global aspirations, the future of the sector looks robust. Chandigarh Tricity stands at the forefront of this revolution, offering both NRIs and local investors unparalleled opportunities to secure assets that promise long-term growth and prosperity.

Steel Margins Boost Iron Ore Rebound

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December 31, 2024

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Steel Margins Boost Iron Ore Rebound

Iron ore prices have shown signs of recovery, driven by improving steel margins, a drop in portside stocks, and hopes of continued economic stimulus in China, the world’s largest consumer of the commodity. After a period of declines, futures prices for iron ore rebounded, signalling a positive shift in market dynamics, although certain factors are still dampening the overall sentiment.

The May contract for iron ore on the Dalian Commodity Exchange (DCE) saw an uptick of 0.91%, settling at 775 yuan (USD 106.18) per metric ton, following a decline of 1.8% in the previous week. In a similar vein, the benchmark January iron ore on the Singapore Exchange advanced by nearly 2%, climbing to USD 100.80 per tonne by the morning session, reversing earlier losses. Despite these gains, year-to-date performance remains less impressive, with the Dalian contract down 16.4% and the Singapore contract falling by 19%. However, steelmakers are finding some reprieve as nearly half of the surveyed steel mills in China are back to operating at a profit, indicating a recovery in steel margins, which typically drive iron ore demand.

Portside stocks have also continued to decline, which signals a tightening of supply. In the week leading up to December 27, iron ore inventories at major Chinese ports dropped by 0.6%, totalling 146.85 million tonnes. This reduction follows a broader trend of slower shipments from major miners, which has been cited as a key factor in the tighter market conditions. Analysts remain cautiously optimistic, noting that the demand for iron ore may continue to show resilience. Steel output, typically a bellwether for iron ore consumption, is expected to dip in January, though the overall decline may not be substantial, as mills remain profitable. Additionally, analysts anticipate a continued push from the Chinese government for infrastructure development, which could support iron ore demand in the coming months.

While iron ore prices are benefiting from improved steel margins and declining stocks, the market is far from being out of the woods. Analysts caution that the seasonal slowdown in construction activities and ongoing global uncertainties will keep the market in a state of flux. Nonetheless, the outlook remains moderately optimistic, with a stable demand environment in the latter half of the fiscal year providing some support for price growth.

Adani’s Takeover of Orient Cement Sparks Job Insecurity and Protests in Telangana

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December 31, 2024

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Orient Cement Compliance Filing Signals Transparency Push

Adani’s Takeover of Orient Cement Sparks Job Insecurity and Protests in Telangana

The Adani Group’s October 2024 acquisition of Orient Cement Company (OCC) has sparked significant concerns among the cement manufacturer’s employees regarding their job security. OCC, originally established by the CK Birla Group in Devapur village, Telangana, 42 years ago, was bought by Adani Cement for an equity value ofINR8,100 crore. The acquisition is expected to be completed within the next three to four months, after which the management will transition to Adani Cement.

Employees, numbering 2,358 in total, including permanent, contract, management, and loading staff, are anxious about potential job cuts under the new management. Many fear that the takeover will lead to workforce reductions and that Adani Cement may not honor the promises made by the previous management. Ch Tirupathi Reddy, the working president of the recognized trade union at OCC, emphasized that while company acquisitions are a common business practice, the new management must fulfill past commitments. If not, employees are prepared to protest. Reddy also highlighted previous promises made by the current management, including the establishment of a fourth plant and the creation of 4,000 local job opportunities for those displaced by land acquisition.

Additionally, the company had pledged to improve basic infrastructure in the surrounding villages, such as healthcare, education, and roads. These promises, employees claim, have not been fully honored, with several court orders remaining unfulfilled. Ramulu Naik, the former MLC and president of the OCC permanent workers union, announced plans for a day-long sit-in protest in front of the company if the existing management does not begin construction of the fourth unit in Devapur, as promised. Employees’ concerns about their future remain a pressing issue, especially with the upcoming change in management.

The Orient Cement plant, originally commissioned in 1982 with a daily capacity of 2,000 metric tonnes, underwent significant expansions over the years. By 2007, the plant’s daily capacity had increased to 8,000 metric tonnes. In 2023, the Telangana government laid the foundation for the fourth unit, estimated to cost INR 2,000 crore. As the transition to Adani Cement approaches, employees remain uncertain about the future and are increasingly vocal about ensuring that their rights and promises made to the local community are not overlooked.

Cement Makers Eye INR 7-INR 10 Per Bag Price Hike in January Amid Improved Demand

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December 31, 2024

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Cement Makers Eye INR 7-INR 10 Per Bag Price Hike in January Amid Improved Demand

Cement manufacturers are planning a price hike of INR 7 to INR 10 per bag in January, anticipating sustained demand growth and a rise in construction activities. Following a price increase in December across key markets in North, Central, and East India, which ranged between INR 7–8 per bag, cement prices have remained stable, with no rollbacks or additional discounts. The prices in December ranged between INR 365 and INR 368 per 50-kg bag, marking a notable increase from the November exit price of INR 358–360 per bag. Industry participants are optimistic about January, citing a boost in demand due to ongoing infrastructure spending, especially on state roads and government disbursals.

The market expects this upward trend to continue, especially with the government’s anticipated infrastructure spending in the upcoming budget. One market participant mentioned that while the fiscal year will not experience a dramatic recovery, the second half of FY25 (October-March) is expected to see better demand conditions, particularly as the base effect of FY24 moderates. From FY22 to FY24, cement demand saw a compound annual growth rate (CAGR) of 11 percent, driven by robust infrastructure and rural development spending. However, demand has slowed down in FY25, with growth projected to be between 4.5percent to 5.5percent, mainly due to base effects, seasonal factors, and slower construction activities during the first half of FY25, impacted by heatwaves and labor shortages during the general elections.

Despite moderating growth, companies have added significant capacity, with 101 million tonnes (MT) of new capacity coming online in the last two fiscal years. Between FY25 and FY29/30, another 210-220 MT is expected to be added, representing a 5.5 percent–6.5 percent CAGR. Realizations are expected to remain under pressure, with operating margins hovering between 15percent and 16percent, lower than previous years. Cement prices reached a record high ofINR391 per 50-kg bag in FY23 but fell by 2 percent to INR 384 per bag in FY24. Given the moderating demand growth and increasing competition, prices are expected to decline by 5-6 percent in FY25.

Regional variations in price movements are anticipated, with North India likely to see stable prices, Western India following a flat trend, and Central India experiencing a potential dip. The Eastern region is expected to face the most significant price decline, with an 11-12 percent drop expected due to the addition of 30 MT of capacity in the last two years. In the South, prices are projected to fall 5-6percent after a 4percent dip in the previous fiscal year. While cautious optimism prevails in the market, overall, the mood remains one of restraint, with companies carefully navigating the pressures of rising competition and fluctuating demand.

Star Cement’s Target Price Maintained at INR 227 by ICICI Securities

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December 31, 2024

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Star Cement's Target Price Maintained at Rs 227 by ICICI Securities

Star Cement’s Target Price Maintained at INR 227 by ICICI Securities

ICICI Securities has downgraded its recommendation on Star Cement to “Hold” with a target price of INR 227, slightly below its current market price of INR 231.55. This downgrade follows a series of developments, including the announcement of UltraTech Cement’s acquisition of a non-controlling 8.69 percent stake in Star Cement at a price of INR 235 per share.

For the quarter ending 30 September 2024, Star Cement reported consolidated total income of INR 643.18 crore, a decrease of 14.51 percent from the previous quarter, but a growth of 8.82 percent compared to the same quarter in the previous year. The company posted a net profit of INR 5.67 crore for the quarter. Star Cement, a mid-cap company founded in 2001, has a market capitalization of INR 9,441.25 crore. The company’s products primarily include cement, clinker, and scrap, with its total outstanding shares standing at 40 crore as of September 30, 2024.

ICICI Securities noted that while Star Cement’s promoter group holds a substantial 66.47% stake in the company, the upcoming acquisition by UltraTech Cement, valued at INR 235 per share, is likely to lead to expectations of a potential merger or acquisition. The stake purchase comes as part of UltraTech’s strategy to expand its footprint in the cement sector. The deal prices Star Cement at an enterprise value of approximately USD 150 per tonne based on its current capacity of 7.7 million tonnes per annum (MTPA), which aligns closely with ICICI Securities’ target price of INR 227 per share. Given the uncertainty surrounding the merger and acquisition (M&A) activity and the recent increase in Star Cement’s stock price, ICICI Securities has downgraded its previous “Buy” rating to a “Hold” with a target price of INR 227.

Cement Prices to Fall Further, Profitability Decline Forecasted for FY25

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December 31, 2024

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Cement Prices to Fall Further, Profitability Decline Forecasted for FY25

The Indian cement industry is set to face significant financial pressure in the upcoming fiscal year, with operating margins projected to shrink by 170-220 basis points, settling between 15-16 percent for FY25, according to a report by CRISIL. The decline in profitability is attributed to weakened pricing power and subdued demand, even as input costs remain under control.

Demand for cement, which had previously enjoyed a robust compound annual growth rate (CAGR) of 11 percent between FY2022 and FY2024, is expected to slow down significantly to just 4.5-5.5 percent in FY25. A variety of factors are contributing to this deceleration, including base effects, a prolonged heatwave, labour shortages during the general elections, and a reduction in construction activity in the first half of the fiscal year. Despite these challenges, the latter half of FY25 is expected to see some recovery. This is expected to be driven by an uptick in rural demand and an increase in government spending on infrastructure projects. These factors could help ease the negative impact of the first half’s slow growth.

Cement prices, which had reached an all-time high of INR 391 per 50 kg bag in FY2023, fell by 2 percent in FY2024 to INR 384 per bag. This trend is expected to continue in FY25, with prices likely to decrease by 5-6 percent as demand growth moderates and competition intensifies. Notably, the eastern region is forecasted to experience the sharpest decline in prices, with reductions of 11-12 percent due to sluggish demand and substantial capacity additions. Similarly, the southern region is expected to see a price drop of 5-6 percent, while the northern region is projected to experience a 4-5 percent decrease. The western and central regions will likely see more moderate price declines of 3.5-4.5 percent and 2-3 percent, respectively.

The cement industry has undergone significant capacity expansion over the past two years, with an additional 101 million tonnes (MT) added. An even larger expansion, ranging from 210-220 MT, is expected by FY2029, reflecting a 5.5-6.5 percent CAGR. While the capacity additions are expected to boost supply, they also intensify competition, further exerting downward pressure on prices. Although input costs such as power, fuel, raw materials, and freight surged in FY2022 and FY2023, a correction in energy prices in FY2024 has provided some relief. These cost reductions, expected to continue in FY25, offer a buffer against the negative impact of declining realisations. However, the ongoing challenges of weak pricing power and low demand growth are expected to pressure profit margins. While the second half of FY25 holds promise with anticipated government infrastructure spending and a potential recovery in rural construction, the cement sector faces a difficult start to the fiscal year. Manufacturers will need to carefully navigate these challenging market conditions to protect their profitability.

JK Lakshmi Cement Faces Stock Downgrade After 21% Drop in Sales

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December 31, 2024

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JK Lakshmi Cement Faces Stock Downgrade After 21% Drop in Sales

JK Lakshmi Cement, a mid-cap cement player, has recently faced significant operational and financial challenges, culminating in a stock downgrade by MarketsMOJO to a “Sell” rating on December 30, 2024. The company reported a sharp decline in net sales, which fell by 21.08% year-on-year. Further compounding its troubles, JK Lakshmi Cement posted a staggering loss of Rs 13.99 crore in Profit After Tax (PAT), marking a drastic 112.2% decrease compared to the previous period.

This downturn is part of a broader trend, as the company has struggled to deliver positive results for two consecutive quarters. The negative financial performance has severely impacted the company’s stock, which has underperformed the broader market over the past year. While the BSE 500 index has posted a return of 14.51%, JK Lakshmi Cement’s stock has recorded a negative return of 7.06%, raising concerns among investors. Despite these setbacks, the company maintains certain financial strengths. JK Lakshmi Cement holds a relatively high Return on Capital Employed (ROCE) of 13.22%, a key indicator of its management efficiency and profitability in relation to its invested capital. Additionally, the company’s low Debt to EBITDA ratio of 1.41 times highlights its ability to manage debt effectively, indicating a lower financial risk in servicing its obligations.

Moreover, the company has demonstrated a healthy long-term operating profit growth, with an annual increase of 25.95%, suggesting that, if the current challenges are addressed, there is potential for recovery in the future. However, the stock’s technical trend has remained stagnant, showing a sideways movement and a lack of clear price momentum. Institutional holdings in JK Lakshmi Cement stand at 36.48%, reflecting a degree of confidence from larger investors, though the broader market outlook appears cautious given the recent decline in sales and profitability. Given the company’s recent financial performance and the downgraded stock call, investors may need to exercise caution until there is a clear path to recovery and improved market conditions.

Steel Margins Boost Iron Ore Rebound

Adani’s Takeover of Orient Cement Sparks Job Insecurity and Protests in Telangana

Cement Makers Eye INR 7-INR 10 Per Bag Price Hike in January Amid Improved Demand

Star Cement’s Target Price Maintained at INR 227 by ICICI Securities

Cement Prices to Fall Further, Profitability Decline Forecasted for FY25

JK Lakshmi Cement Faces Stock Downgrade After 21% Drop in Sales

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