Cement stocks snap six-day losing streak; India Cements soars 10%

The higher demand will mitigate the impact of lower profitability on absolute operating profits and cash accruals of cement makers, cushioning their credit profiles, Crisil Research said

Shares of cement companies traded higher by up to 10 per cent on the BSE in Wednesday's intra-day trade, snapping their six-day declining streak. India Cements, Star Cement, Ramco Cement, Ambuja Cements, ACC, and UltraTech Cement were up more than 1 per cent. In comparison, the S&P BSE Sensex was up 0.12 per cent at 57,174 points at 12:09 PM.

In the past one week, the stock price of HeidelbergCement India, India Cements, Dalmia Bharat, JK Lakshmi Cement, Birla Corporation, Ambuja Cements, and ACC have slipped in the range of 5 per cent to 11 per cent, as against