Cement stocks rise on positive outlook; JK Cement scales fresh record high

JK Cement zoomed 5% to Rs 1,314, while Shree Cement gained 3 per cent to Rs 21,748, and was trading close to its all-time high level of Rs 22,200 touched on July 1, 2019, on the BSE today

Shares of cement manufacturers were back in the focus on Tuesday with JK Cement rising 5 per cent to hit a new high of Rs 1,314 on the BSE. The stock surpassed its previous high of Rs 1,307 recorded on January 3.

Thus far in the calendar year 2020, JK Cement has outperformed the market by surging 12 per cent in the past week, as compared to a per cent decline in the S&P BSE Sensex. In CY19, the stock had zoomed 64 per cent as against a 14 per cent rise in the benchmark index.

JK Cement had reported more-than-double consolidated