Business Daily from THE HINDU group of publications
Wednesday, Jan 07, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Wednesday, Jan 07, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Cement Marketing - Trends ACC, Ambuja Cement Dec sales rise Our Bureau Mumbai, Jan. 6 Switzerland-based Holcim Group company Ambuja Cement reduced its inventory marginally by selling 1.66 million tonnes (mt) of cement in December against production of 1.63 mt. On a year-on-year basis, both production and sales were up 12 per cent in December. In 2008, the company sales were up 5.28 per cent at 17.76 mt against 16.89 mt logged in the same period last year. Production rose 5.19 per cent to 17.74 mt (16.87 mt) in 2008. ACC, another Holcim group company, added marginally to its inventory. It produced 1.91 mt, while it sold 1.90 mt in December. In the calendar year 2008, the company production was up 4.62 per cent to 20.84 mt (19.92 mt), while despatches improved 4.92 per cent to 20.86 mt (19.88 mt). Stimulus packageUnder the second stimulus package the Government has re-imposed CVD (countervailing duty) and special CVD on imported cement, thus increasing the landed cost of cement. The primary benefits would be felt in regions such as Punjab, Haryana, Gujarat and parts of western Maharashtra (port-based imports) where cement is being imported from Pakistan. “Though the imports are not substantial, prices were under pressure in northern region besides Gujarat and western Maharashtra due to the duty exemptions. With re-imposition of duties, we expect prices to increase marginally in these regions,” said Mr Ajay Parmar, research analyst, Emkay Global Financial Services. UltraTech and Ambuja Cement, which have substantial market share in the above mentioned regions, will reap the benefits, he added. On Tuesday, ACC stocks on Bombay Stock Exchange gained 7.67 per cent to Rs 544.95 and Ambuja Cement was up 8.62 per cent to Rs 76.20. Aditya Birla Group company UltraTech stocks were up 11.80 per cent at Rs 428.65. ACC, Ambuja cut prices Cement cos’ inventory dips, outlook still bleak Cement firms’ cost of production rises 17 pc in Q2 More Stories on : Cement | Trends
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