Cement shares on a roll

Cement shares on a roll

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.

To know current cement prices click here

Image Source

4th Indian Cement Review Conference 2021

17-18 March 

Click for event info

Make in Steel 2021

24 February 

Click for event info

Related Stories

Hi There!

Now get regular updates from CW Magazine on WhatsApp!

Click on link below, message us with a simple hi, and SAVE our number

You will have subscribed to our Construction News on Whatsapp! Enjoy

+91 86575 81178