India Cements surges on tax break buzz

DALAL STREET SPIKES

India cements rose nearly 6.5 per cent to Rs 172.8 on volumes of over 18 lakh and was among the top ten gainers in the A group.

There was generally a positive sentiment prevailing across cement stocks earlier in the day as reports anticipating a tax break for cement plants set up after April 1, 2007 buoyed the market.

The cement stocks have not had the best of times in the past three months, especially given the government's intervention in pricing through the introduction of graded excise structure in the budget and the acceptance of a temporary price freeze by the industry.