Cement prices down Rs10-Rs15 a bag; further cut likely next month

The downward revision in cement prices is not unusual in the monsoon as construction and infrastructure development nearly come to a standstill. However, a slackening of demand for cement noticed in May as well because of poor growth of infrastructure and real estate sectors due to high cost of finance

New Delhi: Already down by Rs10-Rs15 per 50 kg bag across the country, barring Mumbai, since the beginning of the month, cement prices may come down further next month due to poor offtake in the seasonal lean period during monsoon, reports PTI.

The price of cement in Mumbai, however, has been slashed by Rs7-Rs8 per bag with effect from today, an official of the Mumbai-based Cement Stockists and Dealers' Association said.

The official said that with the price cut, the average price of cement currently stands at over Rs260 per bag in the country and hardly any chances are there for the price to move up next month as demand would further wane during monsoon.

"There is a slackening in demand for cement across the country which has reflected in the price cut. Now, with the onset of monsoon, another round of price cut is likely next month," he said.

However, when contacted, Shree Cement managing director HM Bangur declined to comment on the price cut, saying, "I will not comment."

The downward revision in cement prices is not unusual in the monsoon days as the construction work and infrastructure development come nearly to a standstill.

However, slackening of demand for cement was there in May as well because of poor growth of infrastructure and real estate sectors due to high cost of finance.

The cost of finance is on the rise as the apex bank hiked the key policy rates 10 times since March last year to rein in runaway inflation. The Reserve Bank of India's (RBI) move, however, has impacted both the cement makers as well as its end-users.

The price cut effected by the cement makers, however, is unlikely to impact the common man much as housing rates have already moved up, as also mortgage rates.

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Tata Teleservices introduces location based services

The service will enable companies to track the location of their employees on a real time basis who are provided with pickup or drop facility during night shifts

Telecom service provider Tata Teleservices has launched location based services (LBS). The service will enable companies to not only track on a real time basis the location of their employees who are provided with pickup or drop facility during night shifts, but also get updates on route deviation or over speeding of the vehicle (if any).

Tata Teleservices will offer enterprise customers a host of applications leveraging its LBS Platform. These applications will broadly include: vehicle tracking services, fleet management, taxi management asset tracking services, cargo management, consignment tracking, ATM finder workforce management solutions; employee safety, sales force automation and service ticket allocation.    

LBS are powered by multiple technologies which ensure a rich user experience especially for the enterprise customer segment.

In addition to the traditional GPS based navigation/tracking technology, Tata Teleservices also offers location based services powered by assisted GPS (A-GPS) and mobile network based location technology to deliver accurate tracking services.

The mobile network based location technology enables workforce management services through mobile phone devices thereby opening up a completely new market segment. 

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Nirmal Lifestyle signs licensing deal with International Association of Athletics Federations

Nirmal Lifestyle will have an exclusive right to use IAAF logo and trademark for development of IAAF certified training facilities, academies and clubs in the country

Nirmal Lifestyle, one of India's leading real estate companies, has inked a 10-year licensing deal with International Association of Athletics Federations (IAAF), the governing body for athletics worldwide, to develop athletics in India and encourage greater participation in the sport.

Nirmal Lifestyle will have an exclusive right to use IAAF logo and trademark for development of IAAF certified training facilities, academies and clubs in the country. IAAF shall be providing technical and professional expertise, consultation, coaching and necessary training for establishing and running world class athletics infrastructure by way of designs, plans, specifications and technical inputs.

Nirmal Lifestyle will build the infrastructure (Training Academy) as per IAAF standards and IAAF through its development program will send coaches, lecturers and ambassador athletes like Mike Powell to train young promising athletes. This will not only contribute in improving sporting performances in India but will also positively impact India's position on the sports stage globally. Nirmal Lifestyle and IAAF will jointly work towards spreading awareness about athletics in India.

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