According to a report from the company, prices increased by around ₹6-7/bag in November.
While prices remained flat in the western and central parts of the country, prices hardened in the northern, eastern and southern regions, Emkay Global said.
According to the report, the cement companies are attempting further price hikes of ₹10-15/bag across the country this month.
“The uptake of the price increases will become apparent in the coming days. With the financial year change (from December to March) by ACC and Ambuja, the volume pressure from these companies is likely to be limited in December. This is positive for the price trend in the short term,” said Emkay Global.
“We expect industry profitability to increase by more than ₹200/tonne QoQ (even higher for Eastern region players) in Q3FY23, with improving cement prices and a spike in operating costs in Q2FY23,” it added.
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