Freeze price order hammers cement stocks

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Union Commerce Minister Kamal Nath's announcement that cement companies will not hike prices for a year has negatively impacted the cement sector. Major cement stocks have tumbled on government's decision.

 

Shree Cement's management told CNBC-TV18 that company's margins would be hit due to the price freeze. He also said that option was either to rollback prices or hold steady.

 

Jaiprakash Associates's management says that no undertaking by the government to reduce excise.

 

 

Cement - North			Cement - South
Company	% chg		Company	% chg
Shree Cements	-10.00		India Cements	-8.15
Birla Corp	-9.36		Chetinad Cem	-5.76
Mysore Cement	-7.26		Rain Commoditie	-4.42
ACC	-5.80		Sagar Cement	-4.02
Shree Digvijay	-5.63
Mangalam Cement	-5.00