India Cements up on buying support

DALAL STREET SPIKES

India Cements stock was in the limelight gaining more than 6 per cent on aggressive buying support.

Market analysts said, the renewed buying at this counter can be attributed to overall buying support for the cement sector stocks. According to market sources, there were news of a leading foreign brokerage firm upgrading the sector on further growth post-monsoon and firming up of cement prices.

However, pivotals ACC, Grasim and Gujarat Ambuja ended negative on profit booking at higher levels after a smart rally in the past few days.

A fund manager with a domestic brokerage firm said, "The cement sector is poised for growth post-monsoon on renewal of construction activity across the country. Favourable demand-supply dynamics should support cement prices."