 "cement prices")
Shares of cement companies were trading higher by up to 7% on the BSE in noon deal on expectation of production recovery in October-December (Q3) quarter of FY17.
The frontline cement shares like ACC, Ambuja Cements, India Cements, UltraTech Cement and Shree Cement were up in the range of 1% to 4% at 01:35 PM; as compared to 0.06% rise in the S&P BSE Sensex. Sanghi Industries, Saurashtra Cement, NCL Industries, Mangalam Cement and KCP were up between 2% to 5% on BSE.
For the period April‘17 to July’17, the cement production has declined by 3.5% to 95.37 million tonnes vs 98.87 million tonnes during the same period last year.
Real estate and housing which constitutes two-third of the cement consumption has seen very low inventory addition as claimed by various industry sources.
CARE Ratings expects the same to persist as clarity on RERA implementation would continue to evolve during the coming quarters. The newly implemented Act (RERA) along with the regulations and compliances is making developers cautious.
The frontline cement shares like ACC, Ambuja Cements, India Cements, UltraTech Cement and Shree Cement were up in the range of 1% to 4% at 01:35 PM; as compared to 0.06% rise in the S&P BSE Sensex. Sanghi Industries, Saurashtra Cement, NCL Industries, Mangalam Cement and KCP were up between 2% to 5% on BSE.
For the period April‘17 to July’17, the cement production has declined by 3.5% to 95.37 million tonnes vs 98.87 million tonnes during the same period last year.
Real estate and housing which constitutes two-third of the cement consumption has seen very low inventory addition as claimed by various industry sources.
CARE Ratings expects the same to persist as clarity on RERA implementation would continue to evolve during the coming quarters. The newly implemented Act (RERA) along with the regulations and compliances is making developers cautious.
