Cement shares trade weak; ACC falls 8%, Shree Cement hits 52-week low

Shares of cement companies were under pressure falling by up to 8% on the BSE in intra-day trade after the ACC reported lower than expected operating performance for the quarter ended September 2018.

Shares of cement companies are under pressure falling by up to 8% on the BSE in intra-day trade after ACC reported lower-than-expected operating performance for the quarter ended September 2018.

ACC, UltraTech Cement and Ambuja Cement were down 3% to 8%, while Dalmia Bharat and Shree Cement hit their respective 52-week lows on the BSE. The S&P BSE Sensex was trading 0.89% lower at 34,469 points at 10:19 am.

ACC’s consolidated net profit grew 15% year on year (YoY) at Rs 2.09 billion against analyst estimate of Rs 2.81 billion in September quarter. The consolidated net sales rose