During April-September 2016-17, cement prices in the North were higher by around Rs 60-65 per bag, compared to the same period in 2015-16, ICRA said in a statement.
Post monsoon, with the expected pickup in demand, the company expects to see Rs 20-25 per bag increase in cement prices, Ashok Gutgutia, Vice Chairman & Managing Director of Burnpur Cement told CNBC-TV18.
All India average cement price currently ruling Rs 285 - 290 per bag compared to an average price of Rs 308 per bag in December 2014, the report by Reliance Securities said. Northern and western regions have witnessed maximum correction between 10-12 percent.
"Three lakh tonnes of cement have been sold while 95 lakh tonnes have been booked by various government departments through the portal where 37 cement makers have got 117 factories registered," Nitin Gadkari said.
The company had posted a net profit of Rs 34.87 crore in the year-ago period. Total income of the firm fell by 8.69 per cent to Rs 394.39 crore in the first quarter as against Rs 382.65 crore in the corresponding quarter of 2013-14.
The company expects both volumes and prices to improve over the next six months, particularly in the run up to the election.
There is optimism that prices would go up but at the same time when newer capacities come in, there will be pressure on prices, correction will happen, says Sanjay Ladiwala, Cement Stockists and Dealers Association of Mumbai. This volatility is likely to continue for the next six months.
CREDAI Chairman Lalit Kumar Jain said cement prices have gone up by about Rs 60-70 per bag across the country in last one week. "We feel that there is a cartel. We are considering moving CCI. We are currently taking legal advice," he added.
According to dealers, cement prices are expected to remain firm in the coming days, which is important to cover the costs as volumes are not supporting and falling continuously due to monsoon arrival in the country, says ICICIdirect.com.
Amid speculations of likely depression in cement prices due to early arrival of monsoon, Heidelberg Cement told CNBC-TV18 today that the company had raised cement prices by Rs 2-5 per 50kg bg in some markets.
Credit Suisse upgraded India's ACC Ltd to 'neutral' from 'underperform'.
Heidelberg Cement has hiked cement prices by around Rs 5-6/50 on each kilogramme per bag to offset the recent diesel price hike.
On the back of cement prices rising across regions, Heidelberg Cement has seen a year-on-year growth in realization. The cement major which was a decent recovery in demand in the preceding quarter might see the trend continue.
The Competition Commission of India has held the Cement Manufacturers‘ Association guilty of being party to price collusion by the large players. CMA collects cement prices, both at the retail and wholesale level from all over the country.
CLSA says cement prices have started to weaken across India, with dealers expecting more falls ahead, according to its India Reality Research survey. Cement prices have fallen by an average of 2% per bag since April 15, with dealers citing rising inventories, while demand is being hit by "sluggish" construction activity.
Lower demand for residential real estate and slower pace of execution of infrastructure projects weighed down demand for cement in the April 2011 to January 2012 period.
Wholetime director of JK Lakshmi Cements, Shailendra Chouksey says that the board has priced the share buyback at an upper limit of Rs 70 per share.
Average retail prices of cement have increased by about 3 per cent month-on-month to Rs 289 per bag, and by almost 17 per cent year-on-year, says CRISIL Research report.
CRISIL Research has come out with its report on Cement prices. As per the research firm during April – October 2011, cement demand has grown at a slow pace of 3%.
Ashish Guha, MD & CEO, Heidelberg Cements in an interview to CNBC-TV18 spoke about the financial performance of the company and the road ahead.
CRISIL Research has come out with its report on cement prices.
Speaking to CNBC-TV18, VM Mohan, CFO, India Cements says that cement prices could go up, but the company will be able to maintain margins on account of the current surplus and capacity that is expected to come in.
SP Tulsian gives his view on the new Land Acquistion Bill and its effect on infrastructure companies, the possibility of a cement price hike and other stocks that made news today.
Sandip Sabharwal, chief executive officer of Portfolio Management Services, Prabhudas Lilladher, joins CNBC-TV18 to pick out the outperformers and highlight the market outlook for the day.
Cement prices are expected to recover after the monsoon ends due to a likely pick-up in construction activity, the Centre for Monitoring Indian Economy has said.