Union Minister Nitin Gadkari criticizes cement factories for price hikes, citing challenges for infrastructure projects
Jaiprakash Associates plans a board meeting following SDR invocation as cement sales drop significantly, amid attempts to address their financial challenges.
Holcim receives FIPB approval to merge operations in India, including ACC and Ambuja Cements, for streamlining its India business.
Banks invest heavily in real estate despite slow demand, funding 56 projects worth Rs 65,000 cr in H1 2013-14.
Finance Ministry plans to bolster the real estate sector by facilitating bank loans for builders with stalled residential projects, aiming to revitalize the sector and stimulate economic growth.
Budget 2012-13 proposes external commercial borrowing for affordable housing, a Credit Guarantee Trust Fund, and increased Rural Housing Fund provisions. Real estate players express disappointment, citing increased costs from the cement industry tax and service tax hike.
The cement industry anticipates a 12% increase in sales this month due to high demand from the realty sector and focus on infrastructure by the government.
Binani Cement is exploring long-term cement supply contracts with developers including Raheja and Hiranandani, potentially reshaping industry standards.
The cement industry faces challenges due to rising input costs, decreased market demand, and increased capacity, resulting in projected growth below 10%.