Cement stocks like Shree Cement and JK Cement are buzzing in trade on hopes of a price hike in April. There are hopes that in the next few days there will be a large price increase effective from April 1st, 2022. Towards the end of the year, you normally see some volume push posts that will see a price increase that will come about.
Read Here: JK Cement says whopping 70% input cost rise will impact demand in short-term
Now a couple of managements told CNBC-TV18 that they will be pushing through cost spikes. Shree Cement had said that costs have gone up by around Rs 40 to 50 per bag, which will be passed on. On an average, they said that prices have been increased by around Rs 30 to 40 per bag in the first quarter of a new fiscal.
JK Cement in the past week, said that cost spikes have entailed Rs 35 per bag cement price increase, and they will be gradually pushing through these raw material costs increase in the next one to around two months or so.
Watch the accompanying video of CNBC-TV18’s Nigel D’Souza for more details.
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