Economy & Market
Demand Sluggish - IIFL Report
IIFL Institutional Equities, a part of the IIFL Group, one of the leading players in the Indian financial services space, in a recent report on the Cement sector said that barring the west, demand was sluggish in other regions. Prices had increased by Rs. 15-25 per bag in the western region over the last three weeks on robust demand. Prices had increased by Rs. 15-25 per bag in the western region over the last three weeks on robust demand. Seasonal discounts of Rs.5-10 per bag have commenced in a few markets in north and central regions and in Tamil Nadu over the last one week, the report said. However, prices continue to be higher MoM. Dealers in north and central regions expect prices to decline until end-December. The report stated that demand is sluggish in all regions except the west. Labour shortage is cited as a major reason for sluggishness in construction activities. Cement demand in Bengaluru was negatively impacted owing to the sand truckers strike for over 20 days which affected construction.