Cement shares extend rally; Shree Cement, JK Cement hit new lifetime highs

Shares of cement manufacturers continued their upward movement on Tuesday as analysts believe cement spreads (price minus power and fuel and freight costs) are expected to remain strong in October-March period (H2FY21) on expected pricing strength even as variable costs rise.

Among individual stocks, Shree Cement, JK Cement and Ramco Cement hit their respective life-time highs, while ACC, Dalmia Bharat and Grasim Industries touched their respective 52-week highs on the BSE. Most of these stocks were trading higher in the range of 2 per cent to 6 per cent as compared to a 0.45-per cent rise in the S&P BSE