Cement shares on a roll

04 Feb 2021 Editorial Team

Cement manufacturer shares rocketed this week, with industry giants Ambuja Cements, Shree Cement, UltraTech Cement, Grasim Industries and ACC rising to 8% on the Bombay Stock Exchange (BSE) as the union budget provided a sharp increase in capital expenditure (capex) allocation, and even though real estate received only a mention in the “affordable” segment.

The major thrust on infrastructure spending by the Centre in the Budget 2021 comes as a boost for construction materials such as steel and cement. A higher allocation towards capital expenditure focusing on infra, roads, and railways is expected to offer a significant growth impetus to the economy, as per analysts.

UltraTech Cement hit a record high of Rs 6,180 among individual stocks, after rallying 8% on the BSE. The stock crossed its previous high of Rs 5,832 in January 2021.

Shree Cement hit a new high of Rs 26,500 too, up 8%, trading above its previous high of Rs 25,980 touched January. Ambuja Cements and Grasim Industries were up 7%, while Ramco Cements and ACC were up 6% each on the BSE.

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