Cement retail prices soared Rs 25 per bag
After a protracted stall, cement retail prices soared in February, with the hike at the pan-India level estimated at Rs 24-25 per bag (50 kg) in the last week of the month compared with the corresponding week of January. The southern region saw the steepest hikes, at Rs 52 per bag in Bengaluru, Rs 62 per bag in Chennai, and Rs 77 per bag in Hyderabad. Hikes in other regions were less sharp, at Rs 26 per bag in the west (led by robust hike in Pune), Rs 12 per bag in the east, Rs 7 per bag in the central region, and a meagre Rs 4 per bag in the north. Prices struggled to rise in north given moderate growth in demand vis-a-vis other regions and the ongoing ramp-up of acquired assets.This upends the downtrend in cement prices seen since the rollout of the Goods and Services Tax (GST).
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