To this point within the fiscal yr 2019-20, the cement manufacturing has declined in 4 months out of seven
Cement manufacturing contracted for the third consecutive month in October, declining 7.7 per cent year-on-year (y-o-y). It had fallen 5.1 per cent and a pair of per cent in August and September. To this point within the fiscal yr 2019-20, the cement manufacturing has declined in 4 months out of seven. This features a drop of 1.9 per cent in June 2019. The cement manufacturing has risen by 7.7 per cent in July 2019 solely to fall once more in August 2019.
On cumulative foundation, the manufacturing declined by zero.6 per cent between April and October 2019 over the corresponding interval of earlier yr. The manufacturing rose 15 per cent between April and October 2018. The demand situation continues to stay bleak though many of the sellers had pinned hopes on demand revival put up Diwali. “Current interactions counsel that demand has clearly didn’t pick-up put up the festive season and the situation continues to stay bleak,” highlighted a word by YES Securities.
PAN-India common costs (billing) stood at Rs 340 per bag for November (costs adjusted for exclusion of worth reductions/particular reductions), declining 1 per cent month-on-month and three per cent since September 2019. The PAN-India wholesale costs hovered round Rs 326 per bag as in comparison with Rs 329 per bag in October. Decline within the central, southern and western areas was a lot sharper at 2 per cent over the past two months. “Central markets had witnessed slowdown as a result of sand mining points in Madhya Pradesh. The identical stands resolved with building actions choosing up step by step,” added the YES Securities word. Value hikes in Andhra Pradesh and Telangana within the first week of November has been rolled again fully whereas November exit complete sale worth stood at Rs 260/ per bag (A model). Though demand stays comparatively wholesome in markets akin to Kolkata, makes an attempt to hike costs have failed as a result of heightened aggressive depth with common wholesale costs hovering as little as Rs 280 per bag (A model), factors out the word. Sluggishness in actual property house continues with no indicators of respite whereas liquidity crunch prevails.