Published by
Joseph Green,
Editor
World Cement,
According to a Reuters report, shares of Indian cement companies have risen ahead of the 29 February Union Budget, amid hopes of an increase in infrastructure spending.
UltraTech Cement rose 1.7%, Ambuja Cements was up 0.5%, JK Lakshmi Cement rose 2.3% and Shree Cement also rose 1.3%.
HSBC expects the government to increase infrastructure spending by 29% in 2016, including for smart cities and low cost airports.
Edited from source by Joseph Green. Source: Reuters
News in brief from Zuari Cement, Niraj Cement Structurals and Chettinad Cement.
Additional pressure on costs from higher taxes and freight rates will lead to higher cement prices.
Though the cement industry is looking more positive, the results coming in for 1Q15, the April – June quarter, are mixed.
India Ratings & Research has predicted that a deceleration in the infrastructure and construction sectors is likely to pull down cement demand in India over the next financial year.