India Cements advances 13% on heavy volumes; stock hits 34-month high

A combined 14.4 million shares, representing nearly 5 per cent of the total equity of India Cements, had changed hands on the NSE and BSE till 01:55 pm

Shares of India Cements zoomed 13 per cent, hitting 34-month high of Rs 163.80 on the BSE on Wednesday on the back of heavy volumes in an otherwise range-bound market. The stock of the cement manufacturer surpassed its previous high of Rs 164, hit on November 26, 2020. It was trading at its highest level since February 2018.

At 01:55 pm, India Cements was quoting at Rs 163, up 12 per cent, as compared to a marginal 0.04 per cent rise in the S&P BSE Sensex at 47,620 points. The trading volumes on the counter rose more than 10-fold