Cement stocks surged over 5% on Monday, driven by Jefferies’ positive outlook on demand recovery, supported by increased government capital expenditure and favourable price trends.

JK Cement led the rally with a 5.3% jump, while UltraTech Cement rose 3.82%, making it the top performer on the Nifty 50. Dalmia Bharat and Grasim Industries gained over 3% each, with Shree Cement and Ambuja Cement adding 2.77% and 1.32%, respectively.

“Cement stocks have been consolidating without significant upward movement for over a year,” noted Vikas Jain, head of research at Reliance Securities. “The Jefferies report with positive price feedback prompted a revaluation of these stocks today.”

According to Jefferies, cement prices were stable in November, with earlier declines bottoming out. The industry is now targeting price hikes of Rs 10-15 per bag in December.

The brokerage highlighted moderate demand growth in October and November, with recovery expected to strengthen in the fourth quarter, supported by a revival in government infrastructure spending.
Analysts are optimistic about a stronger recovery in the latter half of FY25, driven by anticipated increases in government investments in infrastructure projects.
(ET)

The Indian government has introduced anti-dumping duties on anodized aluminium frames for solar panels and modules imported from China, a move hailed by the Aluminium Association of India (AAI) as a significant step toward fostering a self-reliant aluminium sector.

The duties, effective for five years, aim to counter the influx of low-cost imports that have hindered domestic manufacturing. According to the Ministry of Finance, Chinese dumping has limited India’s ability to develop local production capabilities.

Ahead of Budget 2025, the aluminium industry has urged the government to introduce stronger trade protections. Key demands include raising import duties on primary and downstream aluminium products from 7.5% to 10% and imposing a uniform 7.5% duty on aluminium scrap to curb the influx of low-quality imports.

India’s heavy reliance on aluminium imports, which now account for 54% of the country’s demand, has resulted in an annual foreign exchange outflow of Rupees 562.91 billion. Scrap imports, doubling over the last decade, have surged to 1,825 KT in FY25, primarily sourced from China, the Middle East, the US, and the UK.

The AAI noted that while advanced economies like the US and China impose strict tariffs and restrictions to protect their aluminium industries, India has become the largest importer of aluminium scrap globally. This trend undermines local producers, who are urging robust measures to enhance the domestic aluminium ecosystem.

With India’s aluminium demand projected to reach 10 million tonnes by 2030, industry leaders emphasize the need for stronger policies to support local production and drive investments in capacity expansion. The anti-dumping duties on solar panel components, they say, are a vital first step in building a sustainable and competitive aluminium sector.

Ambuja Cements has taken a significant step toward achieving its Net Zero targets by collaborating with Finland-based Coolbrook to implement its innovative RotoDynamic Heater (RDH) technology.

This cutting-edge, zero-carbon heating solution, powered entirely by renewable electricity, is designed to replace conventional fossil fuels in pre-calciner kilns. By leveraging this technology, Ambuja aims to drastically reduce its carbon footprint and dependence on fossil fuels, aligning with its commitment to sustainability and operational efficiency.

Ajay Kapur, CEO of Cement Business at AdGroup, emphasized the strategic importance of this partnership, stating, “Leveraging Adani Group’s green power capabilities, we are driving decarbonization across our cement value chain while delivering value to stakeholders.”

Coolbrook CEO Joonas Rauramo hailed the collaboration as a major step forward in revolutionizing heavy industries with sustainable electrification.

The partnership aligns with Ambuja Cements’ goal to achieve 60% green power usage and increase its reliance on Alternative Fuels and Raw Materials (AFR) to 28% by 2028, reinforcing its leadership in sustainable manufacturing.

With the adoption of RDH technology, Ambuja Cements continues to set benchmarks in advancing the global energy transition while addressing the challenges of climate change.