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K Ravi, MD of NCL Industries, on Thursday said that they increased cement prices by Rs 10-15 per bag in March and are expecting to see a further increase of Rs 15 per bag due to increased costs.
“In the month of March we increased prices by Rs 10-15. Now, the demand is good, and so we are proposing another increase this week by another Rs 15 or so because the diesel prices have gone up and the coal prices are also going up,” he said in an interview to CNBC-TV18.
He also said that the company did record volumes in the last month and he expects the trend to continue for the quarter as well. He said that they have crossed 2.4 million tonne in volumes in FY21 and expect to cross 2.5 million tonne volumes in FY22.
Goldman Sachs too, in note on the cement industries, said that the demand trends were strong barring the COVID-19 and Holi impact towards the end of March. They also said that price hikes to the tune of Rs 10-25 per bag in March have positively surprised and expect another round of price hikes in the month of April.
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