Cement sector likely to witness negative growth in Oct

New Delhi : The cement sector is likely to witness negative growth in sales in October due to a slowdown in infrastructure construction activities amid the festive season, besides the higher base in the corresponding month last year, a brokerage firm has said.

Given last year's higher base and the upcoming festival season (Diwali), the cement industry is expected to report negative year-on-year growth in dispatches for the month of October, 2011," Elara Securities said in a report.

In September, the country's cement firms reported a marginal 1.4% decline in dispatches vis-a-vis the same month last year. In August, cement dispatches were down by 6.6% in comparison to July.