CREDAI has requested PM Modi to take urgent steps to arrest the cement and steel price rise for survival of the real estate sector in the country.
In August, CCI had slapped an over Rs 6,700 crore penalty on 11 cement firms including ACC, Ambuja, Ramco and JK Cement as well as the industry body Cement Manufacturers Association (CMA) for indulging in cartelisation.
Cement manufacturers have rolled out steep price increase across region.
India Ratings has revised its outlook for Indian cement manufacturers to "stable to negative" for 2013 from negative in 2012, driven by limited downside risk for demand.
Leading cement manufacturers ACC and Ambuja Cement (ACL) on Monday reported a modest growth in production at 1.97 million tonnes (MT) and 1.78 MT respectively in June.
Stocks of cement manufacturers fell on rumors that Competition Commission of India's (CCI) ruling on alleged cartelisation by companies is expected shortly, with a negative verdict likely to hurt profits and pricing power of manufacturers, dealers said.
Fitch Ratings has come out with its report on cement manufacturers.