Cement stocks in demand; Dalmia Bharat, JK Cement, Ramco Cement at new high

The government's thrust on infrastructure spending and affordable housing bodes well for cement demand, Motilal Oswal Securities said in a note

Shares of cement companies were in demand on Friday with Dalmia Bharat, JK Cement, and Ramco Cement hitting their respective new highs, while Ambuja Cements, Birla Corporation and Prism Johnson touched their respective 52-week highs on the BSE in intra-day trade. The stocks climbed up to 7 per cent, as compared to 0.18 per cent rise in the S&P BSE Sensex, at 51,625 points, at 10:32 am.

The government’s thrust on infrastructure spending and affordable housing bodes well for cement demand. Analysts expect cement demand to remain flat in FY21, but grow 11 per cent year on year in