Retail demand was under pressure during the first two months of FY22 with April and May production falling by 12 percent and 17 percent respectively month-on-month (m-o-m) as per Index of Industrial Production data.
The localised curbs, which were prevalent in majority of the states, impacted cement demand, especially in rural pockets, unlike last year where rural demand was the key support to the demand.
Further, a seasonally weak period due to onset of monsoon also somewhat contributed to this decline.
However, it rebounded sharply in June with easing of Covid cases and gradual resumption of business activities.
Cement prices also moved up sharply with a rebound in retail demand in June.
“This clearly reflects strong underlying demand waiting for the things to get normal. Further, key major infrastructure projects continued to support demand though on a moderate scale due to limited labour availability,” said ICICI Direct in a report.
“We strongly believe in the resilience of the Indian economy as it continues to navigate the impact of Covid 19. Demand is expected to recover supported strongly by Government’s increased spending on large scale infrastructure projects which augurs well for the cement sector. We believe we are well poised to capitalize on the growth momentum in the ensuing period,” Sridhar Balakrishnan, Managing Director and CEO of ACC Ltd said.
هذه القصة مأخوذة من طبعة July 2021 من Coal Insights.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة July 2021 من Coal Insights.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
SCCL's coal production up 64% in Q1
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The UK to end thermal coal use in October 2024
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Cement sector sees demand revival
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Indian Railways' coal handling up 42% in Q1
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CIL's coal production up 2.4% in Q1
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There is still a long way to go to squeeze coal out: BP
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“Growing Infrastrcuture is a big opportunity for OTR Tires in India”
India is now considered to be the largest market for Off-the-Road Tires (OTR) used in construction & mining industry. The opening up of the coal sector has provided further push to the potential usage of such tires. And Balkrishna Industries Ltd, a global player with diversified portfolio under the BKT brand across agriculture, industrial, construction, earthmoving, mining and port is set to seize the opportunity. Rajiv Poddar, Joint Managing Director, Balkrishna Industries Ltd., tells Arindam Bandyopadhyay of Coal Insights about the opportunities and outlook for the sector and the company.
SCCL's coal production up 69% in May
After putting up a dismal performance last year, Singareni Collieries Company Ltd (SCCL) has started the new fiscal on a high note. Coal production by SCCL in May 2021 surged to 5.44 million tons (mt), about 68.56 percent higher than 3.23 mt achieved in the same month last year, according to (provisional) data released by the company.
