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Cement makers plan to hike price by Rs 10-15/bag in Dec
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IANS | 06 Dec, 2022
The price of cement is hardening across the country and since August
this year, the rates have gone up by Rs 16/per bag, said Emkay Global
Financial Services Ltd.
According to a report by the company, in November the prices went up by about Rs 6-7/bag.
While
the prices remained flat in Western and Central parts of the country,
the rates hardened in Northern, Eastern and Southern regions, Emkay
Global said.
According to the report, the cement companies are attempting further price hikes of Rs 10-15/bag across the country this month.
"Absorption
of the price hikes will get revealed over the next few days. With the
financial-year change (from December to March) by ACC and Ambuja, volume
push by these companies is likely to be limited in December. This is
positive for the pricing trend in the near term," Emkay Global said.
"We
expect the industry's profitability to increase by move r than
Rs200/ton QoQ (even higher for Eastern region players) in Q3FY23, with
improving cement prices along with peakout of operating cost in Q2FY23,"
it added.
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