Economy & Market

Competition Commission | Price fixing exists in Assam cement market

Published

9 years ago

September 30, 2016

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After the Assam Real Estate & Infrastructure Developer?s Association (AREIDA) dragged three top cement companies Star, Topcem and Dalmia Cements to the Competition Commission of India on September 2, the anti-trust watchdog has now agreed that prima facie a case of price fixing and market manipulation indeed exists.

After studying the petition filed by AREIDA along with the evidence submitted, the Competition Com-?mission has accepted that a prima facie case has been made out against the respondents. Taking cognisance of offence committed under Sections (3) and (4) of the Competition Act, 2002, it registered a case against the three cement companies. AREIDA had filed the case under Sec 19(1)(a) of the Act.

"These three cement companies have abused their dominant position by leading a syndicate and indulged in rampant cartelisation and manipulation of market price to fleece consumers of the Northeast. As a result of their illegal cartelisation, the cement prices in the Northeast have for the past decade been the highest in India," stated the Association.

Concrete

Shree Cement reports 2025 financial year results

Published

5 days ago

June 17, 2025

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Shree Cement posted revenue of US$2.38 billion for FY2025, marking a 5.5 per cent decline year-on-year. Operating costs rose 2.9 per cent to US$2.17 billion, resulting in an EBITDA of US$528 million—down 12 per cent from the previous year. Net profit fell 50 per cent to US$141 million. The company reported cement sales of 9.84Mt in Q4 FY2025, a 3.3 per cent increase from 9.53Mt in Q4 FY2024, with premium products making up 16 per cent of total sales.

Image source:https://newsmantra.in/

Concrete

Rekha Onteddu to become director at Sagar Cements

Published

5 days ago

June 17, 2025

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Sagar Cements has announced the appointment of Rekha Onteddu as a non-executive independent director, effective 30 June 2025. According to People in Business News, Rekha Onteddu is currently serving in a similar capacity at Andhra Cements, the parent company of Sagar Cements.

Image source:https://sagarcements.in/

Concrete

India’s cement consumption set to rise

Published

5 days ago

June 17, 2025

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According to a Moody’s report, India’s cement consumption is projected to rise by 50 per cent over the next five years, increasing from 445 million metric tons per annum (MMTPA) in FY24 to 670 MMTPA by 2030. This growth is expected to be driven by government infrastructure spending and rising housing demand, with an anticipated annual growth rate of 6-7 per cent. To meet this demand, major cement companies are likely to continue acquiring smaller, less profitable firms.

Image source:https://www.telegraphindia.com/