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Cement: Signaling a recovery - Views on News from Equitymaster
 
 
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  • Aug 6, 1999

    Cement: Signaling a recovery

    Cement production has registered an increase of 20% in the month of July. This surge comes on the back of an over 22% jump in cement despatches in the first quarter of the current financial year.

    The jump in demand for cement is being attributed to the increasing activity in the housing and infrastructure sectors. The Budget for FY2000 had offered incentives, which stimulated the growth of the housing and infrastructure sector. Another reason for the increased cement demand is the boom in agriculture. This has led to an increase in rural incomes, which again has resulted in increased spending on housing repairs and new construction.

    Cement, is a core sector industry, and therefore any recovery in economic activity is bound to reflect in increased offtake of cement. The recovery in economic activity, which is evident from the increase in non-food credit and the increase in consumption of diesel, has indeed positively affected the demand for cement. If the recovery were to gain momentum, the cement industry could witness even higher rates of growth.

    Although the production and despatches figures for July 1999 are lower than that of June 1999, there is no cause for concern. This is due to the fact that historically in India, the demand for cement falls during the monsoon period. Moreover, on a year on year basis cement despatches have actually moved up by 18.4%.

     

     

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