Cement shares gain as Supreme Court allows use of pet coke

HeidelbergCement India, Mangalam Cement, JK Cements, Shree Cement, JK Lakshmi Cement, Prism Cement, India Cements and Shree Digvijay Cement were gained more than 2%.

Shares of cement companies moved higher by up to 6% on the BSE after media reports suggested that the Supreme Court has allowed the use of pet coke, the primary fuel and input material for cement makers.

Kakatiya Cement, HeidelbergCement India, Mangalam Cement, JK Cements, Shree Cement, JK Lakshmi Cement, Prism Cement, India Cements and Shree Digvijay Cement Company were up in the range of 2% to 6% on the BSE. On comparison, the S&P BSE Sensex was up 0.43% at 33,371 points.

Most of the cement stocks had underperformed the market after the Supreme Court (SC) on November 17, asked all the states and Union Territories to consider enforcing the decision of the Ministry of Environment and Forest (MoEF) and the Central Pollution Control Board (CPCB) prohibiting the use of pet coke and furnace oil by the industry in Uttar Pradesh, Haryana and Rajasthan.

Since then, HeidelbergCement India, JK Cements, Mangalam Cement, Shree Cement, India Cements, JK Lakshmi Cement, ACC, Ambuja Cements and Ramco Cement were down by more than 3%, against a marginal 0.3% decline in the benchmark index till Tuesday.

COMPANY	LATEST	PREV CLOSE	GAIN(%)
KAKATIYA CEMENT	410.00	387.50	5.8
BURNPUR CEMENT	11.37	10.83	5.0
J K CEMENTS	1034.45	989.70	4.5
SHREE CEMENT	17947.00	17182.30	4.5
HEIDELBERG CEM.	157.65	152.25	3.6
INDIA CEMENTS	173.60	168.95	2.8
JK LAKSHMI CEM.	423.00	411.75	2.7
PANYAM CEMENT	65.80	64.15	2.6
SH. DIGVIJAY CEM	26.50	25.85	2.5
MANGALAM CEMENT	344.05	335.70	2.5
BARAK VALLEY	29.75	29.05	2.4
ULTRATECH CEM.	4324.00	4225.60	2.3
SHIVA CEMENT	29.40	28.75	2.3
PRISM CEMENT	114.40	112.30	1.9
AMBUJA CEM.	270.00	265.35	1.8
SANGHI INDS.	119.85	117.85	1.7
BIRLA CORPN.	1121.95	1103.40	1.7
ANDHRA CEMENTS	11.60	11.41	1.7