Ambuja Cements down over 2% on demand concerns

Posted By: Religare
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Shares of country's leading cement producing company Ambuja Cements fell over 2 per cent in early trade on Bombay Stock Exchange (BSE) as cement prices have eased and concerns over slowdown in demand following the onset of monsoon rains.

The analysts have estimated that sluggish demand from construction sector is likely to pull down cement prices in India in short term.

Reacting to news, shares of Ambuja Cements declined as much 2.02 per cent to trade at Rs 171.35 a piece on the BSE.

In a similar fashion, shares of the company were trading at 171.80 a piece, down 1.46 per cent on the National Stock Exchange (NSE).

Among others, ACC was down 1.4 per cent at Rs 1,201, while UltraTech Cement was down 0.6 per cent to Rs 1,850.

Meanwhile, the broader benchmark Sensex was quoting at 19,539.57, down 6.21 points or 0.03 per cent at 10:30 hours.

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