Cement companies have hiked prices across the board in the range of 3-30 percent.
Cement prices have gone up in the southern region up to Rs 60 per bag. The companies have hiked prices in the north and west as well in the range of 3 percent to 30 percent.
In an interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy, Chairman of Cement Stockists & Dealers Association Sanjay Ladiwala said the prices have been upped on the hope of demand revival.
Normally the pre-monsoon demand is high for cement companies. Ladiwala said the recent bifurcation of states – Andhra and Telangana – may boost development of projects, even the pending ones, which in turn will increase demand. Even input costs like rail freights are also leading to higher prices, he added.
Ladiwala expects the utilisation levels to move up by 5 percent in H2FY15.
Emkay Global Finanancial Services is positive on ACC and UltraTech Cement , and prefers Ramco Cement (erstwhile Madras Cement) in the midcap space.
ACC stock price
On June 05, 2014, at 11:15 hrs ACC was quoting at Rs 1440.00, up Rs 17.00, or 1.19 percent. The 52-week high of the share was Rs 1460.00 and the 52-week low was Rs 912.05.
The company's trailing 12-month (TTM) EPS was at Rs 56.23 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 25.61. The latest book value of the company is Rs 416.33 per share. At current value, the price-to-book value of the company is 3.46.
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