Cement stocks gain up to 24% ahead of Budget 2020. Should you book profit?

All the major cement stocks are trading with breakouts, signaling higher levels in the coming sessions. Any boost in Budget may trigger another 10 per cent rise in a short span

Shares of cement stocks have been on an uptrend ahead of the upcoming Union Budget on February 1. India Cements has surged 24 per cent in the last month while JK Cement gained 19 per cent. Both Ramco Cements and Heidelberg Cement zoomed over 15 per cent each during the same period. Similarly, Grasim Industries, Ambuja Cements, Shree Cement, and Ultratech Cement have all risen in the range of 10-15 per cent. In comparison, the S&P BSE Sensex remained flat.

Market analysts expect fortunes of the cement industry to take a favourable turn, led by demand revival, surging cement prices, industry