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Cement crumbles on price cuts in Himachal
Cement stocks were under pressure today, on account of price cuts in Himachal Pradesh. Cement prices have been cut by about Rs 25 per 50 kg bag. ACC, Gujarat Ambuja and Jaypee are the three leading companies which have cut their cement prices.
Cement stocks were under pressure today, on account of price cuts in Himachal Pradesh. Cement prices have been cut by about Rs 25 per 50 kg bag. ACC , Gujarat Ambuja and Jaypee are the three leading companies which have cut their cement prices.
The cement companies have cut the prices after pressure from the Himachal Government. However the state's opposition parties are still dissatisfied with the size of the price cut.
Meanwhile Himachal's CM has written to the prime minister to declare cement as controlled item under essential commodities act
Meanwhile there are some good news for the cement industry too -- DIPP Secretary P K Chaudhury today assured cement manufactures that his department will support their demand to white top roads that use bitumen. However he asked the industry to look for alternative energy resources and not expect any coal linkages in the near future.
"Let me assure you that we would from fully support you in this initiative. We will take it up with the roads ministry. I am quite sure they will see logic in what the industry is saying and there will be a long term solution. Ministry of coal is looking at it but the current problem with the power sector is engaging so much national attention that do not expect something in the short term," he added.
