Better profits for North cement makers

According to the rating agency ICRA, an uptick in demand in north India followed by strong pricing discipline, resulted in a rebound in cement prices to Rs 305 to Rs 345 per cent bag in the first-half of 2016-17 from Rs 225 to Rs 240 a bag in January 2016. During April-September 2016-17, cement prices in the North were higher by around Rs 60 to Rs 65 per bag, compared to the same period in 2015-16. ICRA expects most North Indian cement manufacturers to report better profit for the first-half of 2016-17 vis-a-vis the same period of 2015-16.