Net profit of ACC is estimated to have declined 0.6 per cent to 1.05bn rupees.

Shares of cement companies have outperformed a 7 per cent fall in the Bombay share index in the past three-and-half months as investors ignored short term troubles to bet on the sector’s long-term prospects.

Gujarat Ambuja trades at a forward price to earnings multiple of about 14, compared with 12 for the main stock index, Reuters Estimates show.

"The frontline companies look fully priced at the current level. But long-term demand drivers are strong for the sector," Dey said.