Auto, cement shares rally up to 16% after FM 's fiscal booster dose

Eicher Motors and Maruti Suzuki India surged 16 per cent and 11 per cent, respectively in the intra-day trade today. Among the cement stocks, Shree Cement surged 14 per cent.

Shares of automobile and cement companies rallied the most, gaining up to 16 per cent on the BSE on Friday, after Finance Minister Nirmala Sitharaman announced a cut in the corporate taxes as part of its fiscal measure to boost the flagging economy.

Eicher Motors and Maruti Suzuki India surged 16 per cent and 11 per cent, respectively in the intra-day trade today. Meanwhile, Mahindra & Mahindra (M&M), Ashok Leyland, TVS Motor, Escorts, Tata Motors and Bajaj Auto from the automobiles added between 5 per cent and 8 per cent.

Among the cement stocks, Shree Cement surged 14 per cent, while UltraTech