Cement shares in demand; UltraTech, Ambuja, Ramco Cement hit new highs

Following around 10 per cent YoY growth in volumes in Q3FY21, Motilal Oswal Securities expects the sector's volumes to grow around 20 per cent YoY in Q4FY21

Shares of cement makers were in demand in an otherwise subdued market on Thursday, with the industry giants UltraTech Cement and Ambuja Cements, as well as Ramco Cement, hitting their respective record highs on the BSE on robust demand and price hike reports.

Orient Cement rallied 13 per cent to Rs 113.65, also its 52-week high, on the back of two-fold jumped in trading volumes. India Cements, too, hit a 52-week high of Rs 187, up 7 per cent on the BSE. UltraTech Cement, Star Cement, Shree Cement, Ambuja Cements, ACC, JK Cement and JK Lakshmi Cement were up