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New UserCement: sales volume halves in November; south-based firms least hit
13 Dec 2016
Cement demand, especially in the trade segment, contracted significantly in certain regions of the country given the prevailing liquidity crunch.
Channel checks suggest that dealer counter sales, which are 50-70% cash-based, were hit up to a similar quantum in the first week post- demonetization, pointed out a report by Antique Stock Broking Ltd.
On a month-on-month basis, sales volume in the trade segment slipped 20-50% in November, according to a Reliance Securities Ltd report.
However, volumes in the non-trade segment did not see much of an impact.
Region wise, while cement demand significantly weakened month-on-month across northern, central, eastern and western regions, southern India was least impacted.
According to reports from some brokerage firms, demand declined to a lesser extent of nearly 20% in south India.
SOurce: Livemint.com