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ICI 'Sell' on Madras Cement

Thursday 9th Jun 2011 1361

Chennai : Madras Cements’s (MCL) management said demand in the south continues to decline, and the near-term outlook for the industry is challenging.

The report stated that MCL said the recent price hikes are primarily to pass on sharp cost increases. MCL’s capacity will increase to 12 mtpa in 2QFY12 and no further capacity expansions are planned, given poor industry fundamentals.

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