Shares of eight cement companies were in demand after a foreign brokerage reportedly indicated an improving demand outlook.
Prism Johnson (up 5.45%), JK Lakshmi Cement (up 2.32%), The Ramco Cements (up 1.79%), HeidelbergCement India (up 1.73%), UltraTech Cement (up 1.41%), Ambuja Cement (up 1.15%), Shree Cement (up 1.11%) and ACC (up 1.07%) advanced.According to reports, the brokerage said that the improving demand may pave the way for an increase in cement prices which had corrected between 2-5% in the second quarter.
Cement stocks also rallied after finance minister Nirmala Sitharaman on Monday announced an additional budget of Rs 25,000 crore (in addition to Rs 4.13 lakh crore given in Budget 2020-21) to be provided for capital expenditure on roads, defence, water supply, urban development and domestically produced capital equipment.
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