ACC, Ambuja and JK Lakshmi, following UltraTech, have increased cement prices in Mumbai by Rs 3 a bag (50kg), effective from September 1. Its wholesale price has reached Rs 258 from Rs 255 earlier. In the retail market, each bag of cement will now cost above Rs 270 from Rs 260-265 earlier.
City-based dealers have confirmed the move. They said that all the companies will now follow these big players in raising prices. Other players, which scaled up prices, include Indorama and Vasvadatta Cement, they said. Top dealers told Business Standard that UltraTech was the first to initiate the move which became effective from August 25.
When contacted, spokespersons of ACC and UltraTech declined to comment.