Cement shares rally as ACC logs strong operational performance in June qtr

Individually, ACC rallied 6%, Ambuja Cements & JK Cement surged 5% each, while Ramco Cements, Shree Cement, India Cements, Heidelberg Cement India & UltraTech Cement were up in the range of 2% to 4%

Brisk buying was seen across cement counters as positive sentiment rubbed-off on investors post ACC's April-June quarter numbers. Shares of cement makers rallied up to 6 per cent on the BSE on Tuesday after ACC reported healthy operating margin expansion of over 156 basis points (bps) year on year (YoY) to 20.8 per cent during the June quarter (Q2CY20) despite weak sales volume. The margin expansion was supported by strong cost management and efficiency actions.

ACC, post market hours on Monday, reported a 40.6 per cent YoY decline in its consolidated net profit to Rs 271 crore for the quarter