Cement shares in demand; UltraTech, Ambuja, Dalmia Bharat hit new highs

In the past one month, shares of Dalmia Bharat, JK Lakshmi Cement, Ramco Cement and Ambuja Cement have rallied between 11 per cent and 19 per cent

Shares of cement companies continued their northward movement in Monday's session, with frontline stocks like UltraTech Cement, ACC, Ambuja Cement and Dalmia Bharat from the S&P BSE500 index hitting their respective new highs on the BSE in intra-day trade amid a positive outlook.

A gradual recovery in rural housing, supported by the higher minimum support price (MSP) for Kharif crop, increased procurement by government agencies, improved food grain production in rabi harvest and forecast for a third consecutive normal monsoon, bodes well for the cement sector.

UltraTech Cement, Orient Cement, Shree Cement, Ambuja Cements, Ramco Cement and ACC were up