Guj Ambuja bucks trend on renewed buying

DALAL STREET SPIKES

Cement major, Gujarat Ambuja stock continue to rally upwards with the stock hitting a new high of Rs 379 in intra-day on Tuesday. The stock of cement major finally ended at Rs 376.30, up 0.87 per cent from its previous close.

While other cement stock witnessed profit-booking at higher levels in Tuesday's trading after witnessing a smart rally in the past few days, renewed buying support helped Gujarat Ambuja stock end positive zone on Tuesday, said a dealer.

Others stocks such as ACC (down 0.99 per cent) and Grasim (down 0.25 per cent) ended marginally lower. Both ACC and Grasim were up 3.8 per cent and 2.7 per cent, respectively, yesterday. Analyst said that the sentiment towards cement sector stocks is positive as despatches are expected to remain high along with prices.