Labour shortage due to heatwaves, price hikes impacting cement demand in India: Report
Live Events
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
Labour shortage due to heatwaves in some regions coupled with the latest hike in cement prices have affected demand for the key construction material, according to Prabhudas Lilladher.Prabhudas Lilladher has put out a report after having interacted with cement dealers across regions in India to access the demand and price scenario in April 2025.Based on the discussions with the dealers, the financial advisory firm found that demand remained steady across most of the regions during the month."However, prices declined in certain markets due to extreme heatwaves affecting labor availability, which in turn weighed on demand," their report read.The ongoing marriage and harvesting seasons further added pressure on demand across several regions, it added.Among key markets, Chennai and Hyderabad witnessed steep price hikes of Rs 30-40 per bag, which dealers reported led to a decline in sales.In contrast, Delhi and Patna saw increases of Rs10 per bag. Meanwhile, Western and Central regions recorded flat month-on-month pricing or marginal declines of up to Rs5 per bag.As a result, all-India average cement price rose by Rs10 per bag month-on-month, reaching Rs361 per bag by April-end."Going forward, dealers are anticipating further price hikes of Rs 10- 15 per bag across regions as demand remains steady," the report read.Prabhudas Lilladher expects demand for cement to remain stable in the near term with a strong urban property market and improving rural housing segment activities."Government-led construction activities are expected to pick up pace before the monsoon sets in. We believe recent price hikes were taken to offset the impact of rising pet coke costs and we may not see further price hikes in May unless demand grows in double digits. Pet coke prices have also seen some softening in recent weeks.""We remain positive on the sector amid global economic uncertainties and continue to prefer industry leaders due to their superior execution and improving reach across regions," it added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
25 minutes ago
- Time of India
InCred Money set to acquire discount broker Stocko, marking entry into retail broking
InCred Money , the digital-first wealthtech platform of financial services firm InCred Group , said it is set to acquire discount broking platform Stocko, marking its entry into the retail broking space. It did not disclose the size of the transaction, but people aware of the development said it would be an all-cash deal for about Rs 300 crore. The acquisition is subject to regulatory approvals. If cleared, it will see Stocko—currently operated by South Asian Stocks Limited—rebranded as InCred Stocko and integrated into InCred Money, the Mumbai-based company said. 'India's investing ecosystem is evolving rapidly,' said Bhupinder Singh, founder and CEO of InCred. 'Stocko gives us a proven platform with serious volume, and we'll bring our tech, capital, and customer-first mindset to unlock its full potential.' New Delhi-based Stocko, founded in 2013 as SAS Online, offers trading across equities, derivatives, commodities and currencies. It charges a flat fee of Rs 12.99 per order and offers a subscription-based model for active traders where the per-order cost can drop to Rs 2.99. The platform claims to clock a daily notional turnover of around Rs 1 lakh crore. The acquisition will help InCred Money extend its suite to include equities and derivatives trading for retail users. Live Events Founded in 2016, InCred Group operates three verticals—InCred Finance (NBFC lending), InCred Capital (institutional and HNI wealth services), and InCred Money, which offers products like fixed deposits and alternative investments to retail investors. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories The Stocko team, led by CEO Shrey Jain, will continue to operate the platform post-acquisition. 'With InCred's backing, we'll scale faster, innovate harder, and roll out smarter products—from enhanced margin funding to sharper tech,' said Jain. InCred Money's entry into retail broking also adds to the list of traditional financial institutions and fintechs looking to build full-stack platforms, blurring the lines between lending, wealth management and investing. Platforms such as Groww, which started with mutual fund investments and expanded into equities, derivatives and asset management, and Paytm Money, which evolved from payments into broking and investment advisory, exemplify this shift. In December 2023, InCred Finance closed its Series D funding round, raising $60 million from a group of high-net-worth individuals. The round propelled the company into the unicorn club with a valuation of around $1.04 billion In April, Bloomberg reported that InCred Financial Services is in talks with potential advisers for an initial public offering (IPO) to raise about $470 million as the Mumbai-based company, a partner of KKR & Co., is in discussions with some firms, including IIFL Securities , Kotak Mahindra Bank Ltd. and Nomura Holdings Inc. about working on an IPO.
Time of India
34 minutes ago
- Time of India
Bata CEO Sandeep Kataria resigns after 5 years; succession plans underway
Sandeep Kataria, global CEO of Bata Corporation, has resigned. He was the first Indian to lead the footwear giant. Kataria will stay for six months to help with the transition. An official announcement is expected soon. Succession plans are currently in progress. This marks a significant change in leadership for the Switzerland-based company. Kataria's departure concludes his five-year tenure. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Bata Corporation global CEO Sandeep Kataria has resigned, five years after becoming the first Indian to head the Switzerland-based footwear major, people privy to the development told ET. An official announcement is expected this week with succession plans currently underway. 'Kataria will likely stay on for six months to support the leadership transition,' one of the sources on Kataria's next move are not known yet. People cited above said he is stepping down to pursue other professional opportunities. Bata did not respond to ET's request for comment until press time Sunday. Kataria also could not be immediately reached for comment. Kataria, 55, is exiting Bata after an eight-year tenure – three years as Bata India head before taking the top global role in his tenure, Bata underwent a transformation, modernising its brand identity, streamlining operations, and accelerating digital and design-led innovation. 'Under his direction, Bata sharpened its positioning in key markets across Asia, Africa, and Europe as part of its broader strategy to stay relevant in an increasingly competitive and digitally disrupted market,' one of the persons cited above was also a shift toward agile global supply chain models — with India emerging as a strategic hub for design and sourcing. Kataria, an engineer from IIT-Delhi and postgraduate from XLRI, worked with Unilever, Yum! Foods and Vodafone before joining Bata in 2017. Under his charge at Bata, the Indian business grew at a compounded annual growth rate (CAGR) of 20%, from Rs 1,707 crore in FY21 to Rs 3,554 crore in FY25.'Over the last couple of years, following the change in management (at Bata), a renewed focus on growth has been evident, characterised by a brand refresh, the introduction of new product lines, and enhancements in the backend supply chain infrastructure,' brokerage Motilal Oswal said in a recent report.'Despite muted demand, Bata is seeing early traction in the value segment. Strategic inventory cleanup, curated product refreshes, and franchise-led expansion are positioning the company for improved efficiency and gradual margin recovery, though nearterm pressures persist,' it said. Bata is India's biggest footwear firm by revenues as well as volumes, with annual turnover of Rs 3,554 crore, selling about 50 million pairs every year through more than 1,960 stores. The country is also expected to be Bata's second largest sourcing and design hub after Italy. Bata India , with four factories, is the largest shoe-producer in Asia. Founded in 1894 in what is now the Czech Republic, Bata is a family-owned business selling 150 million pairs of shoes of about 20 brands and labels including Bata, North Star and Power. With a population of 1.4 billion, India is among the fastest growing and largest international markets for footwear companies. In recent years, though, sports shoes companies have been growing faster than formal shoes – where Bata traditionally had a strong foothold with lower pricing – due to increased casualisation at workplaces. Bata India's sales growth was flat during FY25.
Time of India
37 minutes ago
- Time of India
Gujarat eyes 1,500 apartments to house Tata fab staff, suppliers
The Gujarat government is enabling the setting up of 1,500 residential units to house expats and other employees of the Tata Group and its suppliers at Dholera in Ahmedabad district where the conglomerate is building India's first semiconductor fabrication unit. "There is an availability of about 275 apartments currently of which about 250 have been occupied by the Tata Group and their suppliers and other ecosystem companies, while 225 are nearing completion," said Mona Khandhar, principal secretary at the Department of Science and Technology in Gujarat. "They are in Dholera, in the vicinity of the upcoming fab and have been occupied by the teams presently stationed there." ETtech Apart from these 500 units, construction has begun for another 1,000 apartments which will be available by around February-March next year, she said. These are like serviced apartments and come with one, two or three bedrooms. ETtech These facilities are being built in the Dholera Special Investment Region. Tata Electronics' upcoming Rs 91,000 crore fab is expected to generate more than 20,000 direct and indirect skilled jobs. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Speaking at the ground-breaking ceremony of the Tata unit at Dholera in March 2024, union minister for electronics and information technology Ashwani Vaishnaw predicted that the first chip from Dholera would be out by December 2026. "The Gujarat government has not built these (residential) facilities directly," Khandhar said. "The plots have been auctioned by the special purpose vehicle set up by the Gujarat government and private developers have taken on the projects. These apartments are different from the ones that the Tata Group is looking to set up on their own." In the first phase, 10 acres have been allotted to the Tata Group and it is expected that they will complete 530 apartments by mid-2027, she said. "Since the Tata Group is an anchor investor, whenever they need to be consulted, we consult them so that everyone works in tandem," she said. The Gujarat government is also providing support by building facilities for the employees of Tata Group and its suppliers, many of whom are expats. A fire station, school, hospital, desalination plant, hotel and other amenities like a 'Global Tent City' are also being set up there. ET reported on March 29 that the Gujarat government was aiming to recreate the 'look and feel' of the home countries of the expats in Dholera. The Global Tent City, for instance, is expected to house food streets from Taiwan, Korea, Japan, the US and some European nations. A high-end mall and a hotel or guesthouse will also come up there. Tata Electronics has been hiring top executives from chip makers like Intel and GlobalFoundries. ET reported on May 26 that the company had hired Tim McIntosh from Intel as vice-president and head of operations and manufacturing excellence of Tata Semiconductor Assembly and Test (TSAT). Tata Electronics chief executive and managing director Randhir Thakur too had come from Intel. In April, the company appointed GlobalFoundries' Asia president KC Ang as president and head of Tata Semiconductor Manufacturing.
