Cement Companies Shares Surge on Speculation of Price Hike

Posted By:
Subscribe to GoodReturns
For Quick Alerts
Subscribe Now  
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Shares in cement companies rose on speculation of an increase in prices of cement in select areas. Shares of UltraTech Cement  rose nearly 5 per cent to Rs 2,830 on NSE on reports that the company has decided to drop out to buy overseas cement assets of Holcim & Lafarge.

    Cement Companies Shares Surge on Speculation of Price Hike
    ACC: Quotes, News
    BSE 1565.15BSE Quote47.6 (3.04%)
    NSE 1563.55NSE Quote40.8 (2.61%)
    UltraTech Cement: Quotes, News
    BSE 4300.00BSE Quote100.7 (2.34%)
    NSE 4299.10NSE Quote104.9 (2.44%)

    ACC rose 3.5 percent, Ambuja Cement was up 1.6 percent, UltraTech Cement jumped 5.5 percent on speculation of price rise.

    Recently, Ultratech, country's largest cement maker, said its board has approved the acquisition of Jaypee Assocaites's Bela unit which has 2.1 million tonnes per annum (mtpa) clinker and 2.6 mtpa cement grinding capacity.

    Stocks of cement companies have gained sharply in the last one year on anticipation of a demand recovery and are trading at premium valuation.

    GoodReturns.in

    Read more about: ultratech
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more