Cement Shares Hit 52-Week Highs

Cement shares were on the upward trajectory in Tuesday's session as prices are expected to remain strong despite variable costs being on the higher side. Among individual stocks from the space that rallied between 2-6 percent and hit their respective 52 week highs inc

BY Realty Plus
Published - Wednesday, 02 Dec, 2020

Cement shares were on the upward trajectory in Tuesday's session as prices are expected to remain strong despite variable costs being on the higher side. Among individual stocks from the space that rallied between 2-6 percent and hit their respective 52 week highs include Shree Cement, JK Cement and Ramco Cement, ACC, Dalmia Bharat and Grasim Industries. In a sectoral report, Motilal Oswal said the average price of cement is up about 7 percent year on year to Rs. 360 per bag. EBIDTA is expected to increase 18 per cent in FY21 as demand and margins continue to stay above estimates.