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Cement Stocks Buck Trend In A Weak Market; Stocks Surge Up To 14%

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Cement stocks amid weakness in the market fuelled by global factors have been bucking the trend. This is primarily on account of seasonally strong quarter for these companies. Also, the surge comes on the back of a hike in cement prices in AP, Telangana, Kerala. Also, the hike in cement bags to the tune of Rs. 5- Rs. 15 per bag in eastern, North and Central India is fuelling the surge in share prices of these stocks.

Cement Stocks Buck Trend In A Weak Market; Stocks Surge Up To 14%
 

Also, the surge is owing to prospects of strong demand and good quarterly numbers.

Orient Cement (up 14 per cent at Rs 87.50), Sanghi Industries (10 per cent at Rs 43.30), Heidelberg Cement (9 per cent at Rs 202), and Star Cement (8 per cent at Rs 97), all rallied more 5 per cent on the BSE in intra-day trade on Wednesday.

Shree Cement also hit a record high in intra-day trade on Wednesday.

GoodReturns.in

Read more about: demand government spending
Story first published: Wednesday, January 8, 2020, 13:27 [IST]
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