UltraTech, Shree Cement, JK Cement, and Ambuja Cements among analyst picks
JK Lakshmi Cement, UltraTech Cement, HeidelbergCement India, Dalmia Bharat and JK Cement were up in the range of 2 per cent to 4 per cent on the BSE
Individually, ACC rallied 6%, Ambuja Cements & JK Cement surged 5% each, while Ramco Cements, Shree Cement, India Cements, Heidelberg Cement India & UltraTech Cement were up in the range of 2% to 4%
After the demand disruption caused by the nation-wide lockdown, there has been a recovery in demand in the rural areas, primarily driven by pre-monsoon work.
Shree Cement, HeidelbergCement India, India Cements were also up in the range of 2-4 per cent
Orient Cement, Sanghi Industries, Heidelberg Cement and Star Cement, rallied more than 5 per cent each on the BSE in intra-day trade.
Orient Cement, Star Cement, India Cements, JK Lakshmi Cement, HeidelbergCement India, Ramco Cements, Shree Cement and Dalmia Bharat from the S&P BSE 500 index were up more than 3 per cent each.
Amid the gloomy GDP print; however, what is noteworthy is that the government spending rose sharply to 15.6 per cent during the quarter, as against 8.8 per cent in 1QFY20.
Having witnessed a strong demand environment during H2FY18 till FY19, domestic cement firms are likely to report subdued sales volume in Q1FY20