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

city Mumbai covid-19 economy Government shock
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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.

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Berger a winner at Colonial, and PGA Tour feels like it, too
FORT WORTH, Texas – The PGA Tour spent two months learning about the COVID-19 pandemic and trying to develop a safe plan to return, followed by another month hoping for the best.Commissioner Jay Monahan said his confidence in the plan came with a dose of uncertainty.“If we ... got into a situation where we were dealing with a number of positive tests, that's something — candidly — that I lost a lot of sleep over in the weeks that preceded coming,” Monahan said.Monahan felt every bit a winner as Daniel Berger at the Charles Schwab Challenge.The tour administered 487 tests for the new coronavirus at Colonial, and the results on all of them came back negative.
Jay Monahan Daniel Berger state Texas county Worth city Fort Worth, state Texas covid-19 testing pandemic Coronavirus
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