Uptick in Indian demand expected from next fiscal

Cement demand in India is likely to see an uptick in the next financial year starting 1 April on expected pick-up in construction and housing activity as well as improvement in rural demand, says Reliance Securities.

Though demand improved in January, pricing remained dismal due to oversupply and the attempt by new entrants to increase market share, the brokerage adds.

But that should slow and construction demand recovery, improving industry profitability in the longer term, Reliance says.