Building and construction companies in Andhra Pradesh and Telangana have stopped buying cement stocks for the past two days in protest against the unprecedented 50 per cent spurt in prices in the past few weeks.
Last week, Builders had announced their decision not to lift cement stocks during July 5-12 as a mark of their objection alleging cartelisation in pricing by the Cement Manufacturers’ Association.
Cement prices have ascended from about Rs 190-210 to Rs 300-310 per bag in the past few weeks and the construction sector believes there is no good reason for such abrupt rise in cement prices which has impacted construction activity, sources said.