Infrastructure & Construction/News/OfBusiness Cement Dailies | 7th November 2023

OfBusiness Cement Dailies | 7th November 2023

3 years ago

Infrastructure & Construction

Daily Report

OfBusiness

Summary

Cement prices remain unchanged. Supply is on track in the west and south, but north-central faces delays. Demand stays steady in the north-central and western regions. JK Cement saw a 23% YoY sales increase in Q2 FY24.

Price

There has been no change in Cement prices as of today. The AAC Block price is Rs 2,500/cubic meter ex Panipat and Rs 3,300/cubic meter ex Nashik.

Demand and Supply

Supply is on schedule in the western and southern regions, but there are delays affecting the north-central region. Meanwhile, demand remains stable in the north-central and western regions.

News

JK Cement, a leading manufacturer of grey Cement in India, reported a 23% year-on-year increase in second-quarter sales for the 2024 financial year, reaching US$331 million. During the same period, its profit surged by 62% to US$21.4 million. JK Cement’s shares rose by as much as 6% in Monday’s morning trading, reaching an intra-day high of Rs 3,316.4 per share. This increase came after the company posted better-than-expected results for the July to September quarter (Q2 FY24).

OFB’s Opinion

Since prices are stable, bulk booking may be advantageous, as there is a possibility of price increases after Diwali. It is advisable to confirm supply terms before finalizing your order.