Business Daily from THE HINDU group of publications
Tuesday, Feb 03, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Tuesday, Feb 03, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Cement Cement despatches stays strong in Jan ACC managed to cut down its inventory by selling 1.89 m.t Our Bureau Mumbai, Feb 2 Cement demand continued to remain strong in January with the three major cement producers – ACC, Ambuja Cement and Aditya Birla Group – posting a quantum jump in their dispatches. ACC managed to cut down its inventory marginally by selling 1.89 million tonnes (mt) while its production was at 1.87 mt in January. Both production and output rose 12 per cent when compared to January 2008. Ambuja Cement output was up 4 per cent at 1.61 mt (1.55 mt), while sales improved 5 per cent to 1.63 mt (1.55 mt). The Aditya Birla Group’s production in January jumped 9.76 per cent to 3 mt and dispatches were up 7.35 per cent at 3 mt. Production between April-January 2009 has moved up 4.77 per cent to 26 mt from 25 mt in the same period last year. Dispatches grew 4.74 per cent to 26 mt (25 mt). Shares of all the cement companies on the BSE took a beating. ACC was down 2.34 per cent at Rs 493, Ambuja Cement 1.28 per cent to Rs 70, Grasim 0.63 per cent to Rs 1,190 and UltraTech Cement 2.12 per cent to Rs 388 on Monday. ACC, Ambuja Cement Dec sales rise Cement cos’ inventory dips, outlook still bleak More Stories on : Cement
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