Cement stocks in demand

Shares of four cement manufacturers rose by 3.43% to 1.82% at 13:45 IST on BSE on reports that the cement manufacturers in north and central India have raised prices by Rs 5-15 per bag.

The S&P BSE Sensex was up 16.11 points, or 0.05% at 35,486.46.

Ambuja Cements (up 3.43%), ACC (up 2.76%) and UltraTech Cement (up 2.31%), edged higher.

Grasim Industries was up 1.82%. Grasim has exposure to cement sector through its holding in UltraTech Cement.

Meanwhile, a separate media report suggested that the goods and services tax (GST) council is likely to consider reducing GST rates on most construction materials to 18% from 28%. At present, raw material such as cement and paints come under the 28% tax slab. However, many other items used in construction are in the 18% slab.

 

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