Finance Minister Nirmala Sitharaman on Tuesday said that the government will consider a review of the 28 per cent Goods and Services Tax (GST) levied on cement.
UltraTech Cement said that rising government spending, recovery in the rural economy on a pickup in farm incomes and pre-sales of housing real estate should also help the industry recover.
Analysts expect cement stocks to witness catch up activity after months of underperformance as many negatives seem to be priced-in
Analysts expect industry margin to bottom out in Q2, with peaking of cost, higher exit of cement prices, and pick-up in construction activity in coming quarters