Construction Industry News
Cement prices are toughening across the country and have risen by Rs 16 per bag since August this year, Emkay Global Financial Services Ltd said.
According to a report from the company, prices increased by around Rs 6-7 per bag in November.
While prices remained flat in the western and central parts of the country, prices hardened in the northern, eastern and southern regions, Emkay Global said.
According to the report, the cement companies are considering further price hikes of Rs 10-15/bag across the country this month.
“Absorbing the price increases will be revealed in the coming days. With the change of the financial year (from December to March) by ACC and Ambuja, the volume pressure of these companies will probably be limited in December. This is positive for short-term price development,” said Emkay Global.
“We expect industry profitability to increase in Q3FY23 with an increase of Rs200/tonne QoQ (even higher for players in the Eastern region), with cement prices improving and operating expenses peaking in Q2FY23,” it added.
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