Cement stocks drop in a weak market; Ambuja, ACC, Nuvoco slide up to 9%

Despite of Wednesday's fall, most of the cement stocks have outperformed markets in the past one month, on consolidation hopes in the cement industry.

Shares of cement and cement products companies were under pressure in Wednesday’s trade as they fell up to 9 per cent on profit booking.

Shares of Ambuja Cements, ACC, Nuvoco Vistas Corporation, JK Cement, JK Laksmi Cement, Prism Johnson, Birla Corporation, HeidelbergCement India, India Cements and Shree Cement were down in the range of 4 per cent to 9 per cent in Wednesday's intra-day trade. In comparison, the S&P BSE Sensex was down 0.41 per cent at 59,474 points, at 11:53 am.

Despite of Wednesday's fall, most of the cement stocks have outperformed markets in the past one