Concrete

Cement Prices Edge Up in January Despite Mixed Regional Trends

Demand recovery is expected to remain uneven through mid-January.

Published

9 hours ago

January 9, 2025

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Cement prices continued their upward trajectory in January 2025, with the average trade price increasing by Rs 2 per bag to Rs 343 from Rs 341 in December 2024, according to Nomura analysts. Despite the price rise, demand growth remains uncertain, with regional variations in pricing trends across the country.
The Eastern region saw the sharpest increase, with prices rising Rs 5 month-on-month (MoM) to Rs 314 per bag, driven by a Rs 20 hike in West Bengal. In the Western region, the average price rose by Rs 3 MoM to Rs 353 per bag, buoyed by a Rs 10 hike in Gujarat, which was the only region to experience notable volume growth in December 2024.
In contrast, the Central region witnessed a Rs 3 MoM decline in prices, settling at Rs 365 per bag due to weak demand in December. Dealers anticipate subdued activity until mid-January, citing cold weather that hampers construction.
Prices in the Southern region remained stable at Rs 323 per bag, reflecting weak volumes in Hyderabad attributed to slower real estate and construction activity. Dealers in the South expect muted demand in early January, impacted by labour shortages due to regional festivals like Pongal. However, demand may pick up later as government projects in Kerala with March 2025 deadlines gather pace.
Nomura notes that the Central region is the only area experiencing a 1% price drop, while other regions have recorded mild to significant price increases.
Analyst Recommendations
Among cement manufacturers, Nomura continues to favour UltraTech Cement, maintaining a “buy” rating alongside Shree Cement, Ambuja Cement, and Ramco Cement. The brokerage holds a “neutral” stance on Nuvoco Vistas Corporation and ACC, while recommending a “reduce” rating on Dalmia Bharat.
While price trends suggest resilience, demand recovery is expected to remain uneven across regions through mid-January.
(moneycontrol)

Related Topics:Cement Cement price Construction

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DPIIT Partners with JK Cement to Boost Startups

Collaboration to offer resources for entrepreneurs.

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9 hours ago

January 9, 2025

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The Department for Promotion of Industry and Internal Trade (DPIIT) has partnered with JK Cement to support and accelerate the growth of startups. This collaboration aims to provide access to cutting-edge infrastructure, manufacturing and R&D facilities, mentorship, and university resources under JK Cement.

Sanjiv, Joint Secretary in DPIIT, stated that this partnership is a step in the right direction toward creating synergies with JK Cement to foster an environment conducive to innovation and startup growth.

Sumeet Kumar Jarangal, Director of Startup India, highlighted that this initiative will support at least 10 startups and entrepreneurs over the next year, driving sustainable development and helping create viable, innovative solutions for the market. The program will focus on empowering entrepreneurs with resources that enable scalable growth and long-term success.

Concrete

DPIIT partners with JK Cement to support Product Startups

The collaboration aims to transform India into a global manufacturing.

Published

9 hours ago

January 9, 2025

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A Memorandum of Understanding (MoU) has been signed between the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry and JK Cement, a leading manufacturer of grey and white Cement, to usher innovation, empower entrepreneurs, and strengthen India’s manufacturing ecosystem.

According to DPIIT, this strategic collaboration aims to transform India into a global manufacturing hub by nurturing product startups, innovators, and entrepreneurs. The partnership will enable access to cutting-edge infrastructure, state-of-the-art manufacturing and R&D facilities, mentorship opportunities, pilot projects, and university resources under JK Cement.

Terming this MoU as a Startup friendly initiative, Mr. Sanjiv Singh, Joint Secretary, DPIIT, said that it is a right step in the direction of creating synergies with JK Cement to build a conducive environment for startups and innovators.

Adding further Mr. Singh said this much needed endeavour will immensely help the budding entrepreneurs to scale new heights through this collaboration, will eventually transform innovative ideas into impactful solutions thus emerging India as a global leader in the arena of manufacturing and innovation.

Outlining the essence of this strategic alliance, Director Startup India, Dr. Sumeet Kumar Jarangal revealed that this pro-startup initiative seeks to accelerate entrepreneurship, create viable solutions and drive sustainable development by supporting atleast 10 startups and entrepreneurs over the next one year.

Reiterating JK Cement’s commitment, Mr. Madhavkrishna Singhania, Joint Managing Director & CEO, JK Cement Ltd, said “Partnering with DPIIT reflects our unwavering commitment to nation-building. Together, we aim to cultivate a dynamic and competitive manufacturing ecosystem, driving India’s ambition of becoming a self-reliant and innovation-led economy. This collaboration will ensure that India’s manufacturing ecosystem reaches unprecedented heights, fostering economic prosperity and technological advancement.”

Concrete

India Cements Announces Management Reshuffle Post UltraTech Buyout

This realignment marks a strategic shift for India Cements.

Published

9 hours ago

January 9, 2025

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India Cements, now majority-owned by UltraTech Cement following a landmark acquisition, has restructured its top management roles in marketing and HR. The changes were finalised at a board meeting on January 3, 2025, and disclosed to the BSE.
The company stated, “The Board of Directors has approved the recommendation of the Nomination and Remuneration Committee for the appointment of the following officials as Senior Management Personnel, effective January 1, 2025.”
R. Parthasarathy, formerly Chief Marketing Officer, has been appointed as Head – Integration (Sales and Marketing). A seasoned professional with experience at RAK Ceramics, Asian Paints, and Roca Bathroom Products (formerly Parryware Roca), Parthasarathy is an alumnus of the Indian Institute of Management, Calcutta. He joined India Cements in August 2021.
Other key appointments include:
• Rajesh Sankar as Head – Integration (Manufacturing). Sankar, a chemical engineer with a master’s in environmental science, brings extensive manufacturing expertise.
• Prakash Pattanshetty as Head – Sales and Marketing. With over 30 years of experience, Pattanshetty is a civil engineer and postgraduate in sales and marketing.
• G. Ramesh as Vice President – Personnel.
• Ravikrishna Iyer as Group Head – Human Resources.

On July 28, 2024, UltraTech Cement, part of the Aditya Birla Group, announced the purchase of a 32.72% stake in India Cements for Rs 39.54 billion at Rs 390 per share. This followed a 22.7% stake acquisition in June 2024, bringing UltraTech’s total shareholding in India Cements to 55.49%.
UltraTech Cement sought approval from the Competition Commission of India (CCI) for the acquisition, arguing that India Cements was incurring significant losses and the buyout could help revive the “failing firm.”
This realignment marks a strategic shift for India Cements as it integrates operations under UltraTech Cement’s ownership while focusing on revamping its sales, marketing, and HR strategies.
(Storyboard18)