Cement prices set to increase as expenses surge

Shree Cement incurs Rs 6.62 billion profit for Q4; beats expectations

Shree Cement, India's third-largest cement manufacturer by market capitalisation announced a fourth-quarter profit that exceeded, attributing it to increased volumes driven by lower cement prices. Typically, cement companies witness a surge in volumes in the March quarter as they reduce prices to clear year-end inventory backlogs.

Analysts had anticipated that reduced fuel costs would partially offset the decline in prices. Shree Cement's profit for the quarter ending March 31 reached Rs 6.62 billion, surpassing street forecasts of Rs 6.20 billion, as per LSEG data. This marked a si..

Cement prices dip, boosting sales

In a significant development for the construction sector, cement prices experienced a notable 6% decline in the fourth quarter of the fiscal year 2024. This dip has sparked optimism within the industry, with analysts predicting a corresponding uptick in sales volume. The downward trend in prices has been attributed to various factors, including changes in supply dynamics, evolving market demand, and shifts in production costs.

One of the primary drivers behind the price reduction is the moderation in input costs. Factors such as lower energy prices, reduced transportation expenses, and..

Cement industry set to grow 3% in Q3

In a recent report, Jefferies says a notable decline in cement prices across all regions in December 2023, registering a range between 1-2%. This pricing adjustment sets the stage for a meticulous examination of the sector?s overall performance.

According to the report, the anticipated growth for the cement sector in the third quarter of the fiscal year 2023-24 is pegged at 3% Quarter-over-Quarter (QoQ), aligning seamlessly with initial expectations. This steady growth projection underscores a measured and consistent trajectory for the industry.

Highlighting regional variations i..

Shree Cement incurs Rs 6.62 billion profit for Q4; beats expectations

Shree Cement, India's third-largest cement manufacturer by market capitalisation announced a fourth-quarter profit that exceeded, attributing it to increased volumes driven by lower cement prices. Typically, cement companies witness a surge in volumes in the March quarter as they reduce prices to clear year-end inventory backlogs.

Analysts had anticipated that reduced fuel costs would partially offset the decline in prices. Shree Cement's profit for the quarter ending March 31 reached Rs 6.62 billion, surpassing street forecasts of Rs 6.20 billion, as per LSEG data. This marked a si..

Jaishankar Highlights Mumbai-Ahmedabad Bullet Train Benefits

india's vision of a modern and interconnected transportation network. Foreign Minister S Jaishankar has emphasised the significant benefits of the Mumbai-Ahmedabad bullet train project, citing its potential to revolutionise transportation and boost economic growth. Speaking on the project, Jaishankar highlighted its role in enhancing connectivity, fostering economic development, and strengthening bilateral ties with Japan.

The Mumbai-Ahmedabad bullet train project, a flagship infrastructure initiative between India and Japan, aims to reduce travel time between the two cities from hour..