UltraTech Cement, JK Cement Are ICICI Securities' Top Pick In Cement Pack — Q2 Results Preview

The brokerage views the recent GST rate cut (from 28% to 18%) as a ‘shot-in-the-arm’ for the cement sector, potentially inducing a demand uptick. While demand in H1 FY26 is estimated to have improved just 2–4% (despite a low base – impacted by India’s general elections last year), it expects strong recovery – in high single-digit – in H2 FY26E.