Cement     Prices Hiked As Demand Improves; Upgrades To Continue: ICICI Securities
Workers unload cement bags from a truck near a construction site in New Delhi, India.  (Photo: Bloomberg News)

Cement Prices Hiked As Demand Improves; Upgrades To Continue: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Our channel checks suggest demand remained strong in March 2021 and likely grew in high single-digit month-on-month, despite ~5% month-on-month price hike.

Q4 FY21 is likely to have seen more than 20% YoY volume growth, aided by the low base of March 2020.

Dealers suggest prices may be hiked by another Rs 15-30 per bag across most regions with-effect-from the first week of April 2021 led by continued strong demand and necessitated by cost escalations (in our view).

Historically, prices rose by an average of 9% QoQ in Q1 of every year in three of past four years.

Click on the attachment to read the full report:

ICICI Securities Cement Monthly Update.pdf

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