Cement scrips firm up on quarterly gains

DALAL STREET SPIKES

In a rather subdued market, cement stocks were in demand with leaders Gujarat Ambuja and Grasim ending with good gains.

In fact, Grasim touched its all-time high of Rs 1,260 in intra-day trades, while GACL emerged as one of the biggest gainers in Sensex scrips by end of the trading. Grasim was up 3.37 per cent to close at Rs 1,237.50, while Gujarat Ambuja gained 2.40 per cent with volumes of 6.29 lakh shares at the BSE.

Market analysts said, there was buying interest in the cement counters on the back of strong results announced by most companies.

And further gains expected in the coming quarters. ACC gained 1.80 per cent to close at Rs 274.75 after touching the day's high of Rs 276.70.

A recovery in cement prices coupled with strong March ended quarterly results of the cement majors has resulted in renewed buying in cement stocks.