India Cements gains 5%; hits highest level since January 2008

Analysts expect margins of cement companies to bottom out in Q3FY22, with likely recovery in demand and prices.

Shares of India Cements surged 5 per cent to Rs 257.60 on the BSE in Friday’s intra-day trade, extending their past two weeks-rally on the back of heavy volumes. In the past 11 trading days, the stock has soared 37 per cent from a level of Rs 187.80 on December 30, 2021.

The stock of the cement manufacture was trading at its highest level since January 2008. It had hit a record high of Rs 333 on December 14, 2007.

At 11:04 am, India Cements was up 4.5 per cent at Rs 256.10, as compared to a 0.59