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May 5, 2001
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Money > Business Headlines > Report May 5, 2001 |
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Cement majors log 13 per cent sales growth in AprilBS Corporate Bureau Cement majors Larsen & Toubro and Gujarat Ambuja has shown a growth in sales by 12 to 13 per cent for April. This comes in line with the pre-monsoon growth in construction activities. Larsen & Toubro has reported a 12.2 per cent rise in sales to 1.10 million tonne compared with 980,000 tonne during the same month last year. This is against a growth of 4.7 per cent year-on-year in April 2000. Gujarat Ambuja has seen its sales grow to 609,000 tonne, up 13.2 per cent from 5.38 tonne last year. The company's production grew 16.12 per cent to 605,000 tonne. On the other hand, The Associated Cement Companies has reported a 1.33 per cent drop in sales to 962,000 tonne on a year-on-year basis. According to analysts the growth in cement demand for the current fiscal is expected to be around 6-7 per cent. Meanwhile, the cement prices in Bombay fell to Rs 171-173 per 50 kg bag as a result of discounts offered to the dealers by the cement majors, while holding on to the official price levels at Rs 182 per bag. The despatch figures caused a minor rally in sector share prices with L&T gaining 1.48 per cent to the day's high of Rs 222 on the Bombay Stock Exchange. Powered by YOU MAY ALSO WANT TO READ:
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