India Cements plans price hike

India Cements plans price hike
Published: 07 April 2006

India Cements, one of the largest producers of cement in South India, is planning to raise prices once again. Industry sources say the company is looking at raising prices up to Rs 20 per bag in the next month. The hike may not be all at one go but in tranches. N. Srinivasan, MD of India Cements, told The Telegraph, "I will not comment specifically on this issue, but it’s true that prices are hardening and can go up further."

The idea behind the price hike, industry sources say, is the fact that the cement prices per bag down South is far lower than that in Mumbai where prices are hovering around Rs 235 per bag. With the southern states expecting a construction boom and most cement producers having huge capacities, the hike in prices seems to be imminent.