Cement shares in focus; Shree Cement hits record high, UltraTech up 3%

Ambuja Cements, ACC, Orient Cement, JK Lakshmi Cement, Dalmia Bharat, Mangalam Cement, Heidelberg Cement India, India Cements and JK Cement were up 2 per cent to 5 per cent on the BSE

Shares of cement companies were trading higher for the second straight day on Tuesday on expectation of revival in demand going forward.

While there were no specific announcements in the Budget pertaining to the cement industry, demand for the commodity will pick up due to announcements related to infrastructure, housing and rural development.

Finance Minister Nirmala Sitharaman on Saturday announced increase in allocation of PMAY (Pradhan Mantri Awas Yojna) and also various other plans for the construction/infrastructure sector. The government also proposed extension of additional deduction of Rs 1.5 lakh interest on loans for affordable housing loan and