Cement prices in Gujarat have dropped by up to INR100 per bag (35%) from the peak on account of poor demand (particularly from the housing segment) coupled with intense competition, according to a recent report by IFL Institutional Equities, a part of the IIFL Group. In Gujarat retail markets, the price is INR220/bag, IFL states.
"Prices in Mumbai have corrected by INR5 in the current week, taking the total decline to INR10 per bag in the past month; prices in city are currently INR260-290/bag. Demand continues to be normal in Mumbai according to the dealers," the report said.
