The volume of cement transported by Indian railways increased 26 per cent YoY in the September-December quarter to 35.5Mt, according to the Ministry of Railways. This also represented a 35 per cent growth compared to the 2QFY20-21.

The rise in cement freight has been attributed to a seasonal improvement in construction activity across the country.

However, freight costs rose six per cent YoY and three per cent QoQ, according to a report by JM Financial.