Cement firms contemplating Rs 10-Rs 15 per bag hike

Cement prices are hardening across the country, having gone up by Rs 16 per bag since August this year, said Emkay Global Financial Services Ltd. According to a report by the company, in November the prices went up by about Rs 6-7 per bag. While the prices remained flat in the western and central parts of the country, the rates hardened in the northern, eastern and southern regions, Emkay Global said. According to the report, the cement companies are contemplating further price hikes of Rs 10-15/bag across the country this month. “Absorption of the price hikes will get revealed over the next few days. With the financial-year change (from December to March) by ACC and Ambuja, volume push by these companies is likely to be limited in December. This is positive for the pricing trend in the near term,” Emkay Global said. “We expect the industry's profitability to increase by move r than Rs200/ton QoQ (even higher for eastern region players) in Q3FY23, with improving cement prices along with peakout of operating cost in Q2FY23,” it added. See also: JK Cement begins commercial production at PannaUltraTech Cement commissions new cement capacities