SEBI analyst Rajneesh Sharma said cement demand is set to rise with FY25 output at 453 MMT and FY26 seen above 480 MMT. UltraTech and Shree Cement show near-term weakness, while ACC and Dalmia Bharat display bullish setups supported by volume and chart patterns. With infra push and capacity expansions, Sharma expects the next cement rally to be structural, not speculative.