Cement stocks rally on strong demand hopes; Shree, JK Cement hit new highs

By SI Reporter4 days ago

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Shares of cement companies were in focus in Thursday's trading session, with Ambuja Cements, Shree Cement, JK Cement and the Ramco Cement hitting their respective new highs on the BSE, on strong demand expectations.

Besides these stocks, UltraTech Cement, ACC, JK Lakshmi Cement, India Cements, Orient Cement, Prism Johnson and Star Cement from the S&P BSE Allcap index were up in the range of 2-6 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.82 per cent at 50,067 around 01:35 pm.

The cement sector is set to report strong double-digit volume growth during the January-March quarter (Q4FY21) given the low base and sharp recovery in the cement demand, led by higher government spending and strong rural economy. Sustained demand from individual housing (IHB) in the semi-urban, rural region and a healthy pick-up in infra activities is expected to aid growth in volumes during Q4FY21.

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