city Mumbai covid-19 economy Government shock city Mumbai

Pent-up demand, firm prices help cement firms partly offset covid-19 shock

Reading now: 400
www.livemint.com

MUMBAI : The economy may be contracting and demand has been hit across sectors but the key ingredient that powers the construction sector has managed to defy logic.

Channel checks by analysts at three domestic brokerage firms show continued strength in cement prices in June.Cement producers raised prices by a notable 6% in early May to make up for the sharp fall in sales and negative operating leverage.

And as the government eased restrictions in May, demand returned, and as it turns out producers have maintained the price hikes.“Cement prices increased by 0.8% month-on-month in June 2020," analysts at IDBI Capital Markets & Securities Ltd said in a note. “In FY21 so far (i.e.

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA