Cement companies mull price hike of Rs 10-30/bag

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Representational ImageFile/ GK

Chennai, Nov 5: Cement companies are planning to hike the price between Rs 10 and Rs 30 per bag in November after an increase of about Rs 3-4/bag last month, said Emkay Global Financial Services Ltd.

Emkay Global in a recent sectoral report said the average pan-India cement price increase was about Rs.3-4/bag in October 2022.

On a month-on-month (MoM) basis, prices rose by 2-3 per cent in the East and South, and about one per cent in the West; while declining 1-2 per cent in the northern and central regions, the report said.

“Cement companies are attempting price hikes of Rs10-30/bag across regions in November 22. Absorption of these price hikes will be uncovered over the next few days,” said Emkay Global.

Industry volumes likely to have declined by a high single-digit YoY and a low double-digit MoM, in October 22, owing to a high base, as the festive season was spread across October-November last year.

According to the report, a delayed exit of monsoons and labour shortage owing to festive holidays impacted demand in October 22.

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