2W Cement channel checks - All India prices flat, increase in Chennai, demand subdued
· All India cement prices remained flat as price decline in East & Central was offset by increase in South & West
· East: Price declined by Rs05/bag on back of Rs10/bag decline in Kolkata and Rs05/bag decline in Bhubaneswar while that of Patna remained flat
· West: Price increased by Rs08/bag on back of Rs10/bag increase in Mumbai and Rs05/bag increase in Ahmedabad
· North: Price remained flat in both Delhi & Jaipur
· South: Price increased by Rs22/bag in Chennai while that of Bangalore & Hyderabad remained flat
· Central: Price declined by Rs10/bag in Lucknow while it remained flat in Bhopal
· Q2FY17E %yoy change till date: East (-7.3%), West (-9.8%), North (12.4%), South (-5.8%), Central (4.2%)
· We expect a gradual recovery in demand.
2W Change (Rs/Bag)
|
Price
|
Region
|
Price
|
Region
|
Price
|
Region
|
Price
|
Region
|
Price
|
Region
|
Price
|
All India
|
+01
|
East
|
-05
|
West
|
+08
|
North
|
+00
|
South
|
+09
|
Central
|
-05
|
East
|
-05
|
Patna
|
+00
|
Ahmedabad
|
+05
|
Delhi
|
+00
|
Chennai
|
+22
|
Bhopal
|
+00
|
West
|
+08
|
Bhubaneswar
|
-05
|
Mumbai
|
+10
|
Jaipur
|
+00
|
Hyderabad
|
+05
|
Lucknow
|
-10
|
North
|
+00
|
Kolkata
|
-10
|
Bangalore
|
+00
| ||||||
South
|
+09
| ||||||||||
Central
|
-05
|
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