Cement: Pricing curbs hurting

Cement: Pricing curbs hurting
Published: 16 August 2007

The Indian BS Cement Index fell 7.83 per cent with ACC and Shree Cement being the major losers, down by over 10 per cent each. The decline in market value was attributed to the notice from the Monopolies and Restrictive Trade Practices Commission on price cartelisation. The price restrictive policy by the government hurt the industry in the June 2007 quarter with profit growth rate falling below 50 per cent from over 100 per cent in the previous three quarters. The stocks of Andhra Cement, UltraTech, Birla Corporation, India Cements, Ambjua Cement, and Madras Cement declined by over 5 per cent each.