India's biggest cement maker UltraTech sees early signs of price recovery
(Reuters) -India's UltraTech Cement said on Monday it was seeing early signs of a price recovery, after it reported a sharp drop in second-quarter profit due to persistently low prices of the construction material. "Prices have been improving since the end of August and so far in October, have held steady," Atul Daga, UltraTech's finance chief said in a post-earnings call. Daga said the price of a cement bag was currently at 354 rupees ($4.21), up from 347 rupees at the end of August.