India's cement sector earnings likely to be resilient after tax cuts, Goldman Sachs says

** "The cement sector could prove to be resilient in the upcoming earnings season," analysts at Goldman Sachs said in a note

** Costs remained largely stable in the quarter, says brokerage

** Adds, price hikes in April-June have corrected only marginally in the ongoing quarter, which came as "a positive surprise"

** This, combined with the tax cuts, is expected to drive a turnaround in volumes in September end

** The GST cuts will likely benefit cement companies' margins - GS

** Keeps "buy" rating on UltraTech Cement NSE:ULTRACEMCO, "neutral" on Shree Cement NSE:SHREECEM, Dalmia Bharat NSE:DALBHARAT, Ambuja Cements NSE:AMBUJACEM and JSW Cement NSE:JSWCEMENT

** Retails "sell" on ACC NSE:ACC