Business Standard

Cement shares in demand

UltraTech Cement, Ambuja Cements, JK Cement, ACC, Grasim Ind and India Cements are up 2-5% on the BSE.

Related News

Shares of makers are in demand and trading higher by up to 5% on the bourses on hopes that the cement prices are likely to go up further in the post-monsoon quarters and on the back of a festive season.

UltraTech Cement, Ambuja Cements, JK Cement, ACC, Grasim Industries, India Cements and Ramco Cements are up 2-5% on the BSE as compared to 1.3% rise in benchmark index at 1125 hours.

All-India cement prices rose in September breaking the two-month downward trend after prices touched a yearly high of Rs 308 per bag in June. All major companies adopted aggressive price hike strategies, which led to prices rising by as much as by Rs 50-60/bag in certain markets from the monthly lows.

According to dealers, prices will continue to rise as demand recovery is expected in certain pockets, says analyst at ICICI Securities in a report dated September 30.

However, analyst expects the margins of the cement companies take a hit due to the player’s inability to fully pass on the hike in costs given the slowdown in demand.

Among the individual stocks, has rallied 5.3% at Rs 1,909, followed by Ambuja Cements up 4% at Rs 187, and JK Cement are up 3% each at Rs 1,137 and Rs 193 respectively.
 

Read more on:   
|
|
|

Read More

SSWL soars on record sales in September

The stock rallied 14% to Rs 145 on the National Stock Exchange.

Quick Links

 

Market News

Financial Technologies hits 52-week low on NSEL merger report

The stock dipped 13% to Rs 148, extending its previous day's 20% fall on BSE.

Tax pressure eases on existing AIFs

I-T appellate tribunal rules that July circular on beneficiaries cannot be applied retrospectively

IPO filings: New companies law clause proves irritant

The clause mandates promoters to furnish proof of initial investments

Investors are interested in increasing India exposure: Naganath Sundaresan

Interview with President and chief investment officer, DSP BlackRock

HDFC Bank net up 20%, a tad short of expectations

Yet, operationally, a good quarter, with a pick-up in retail loan growth, steady margins, asset pressure under control

Back to Top