Market share loss dents Shree Cement's June quarter performance

Weak demand, low pricing ability to restricting performance in following quarters

The share price of Shree Cement has shed over 2 per cent in the last three trading sessions. The decline has come despite higher per-tonne operating profit for its cement business in the June quarter (Q1).

The stock has underperformed the broader market indices like the Nifty, which was flat during the same period. What hurt investors besides pricey valuations was the market share loss, along with a sharp 13 per cent year-on-year (YoY) decline in cement volumes against the estimated 1 per cent decline at the industry level. Price hikes taken by the company at the beginning of Q1 worsened