Shares of cement maker are in demand and trading higher by up to 7% on the Bombay Stock Exchange (BSE). At 1340 hours, Shree Cement, Ambuja Cements, ACC and UltraTech Cement are up 1-4%, while JK Cement, Orient Cement, Ramco Cement, Birla Corporation and JK Lakshmi Cement have rallied between 5-7%.
According to market analyst the March to mid-June period is among the peak periods for cement demand before the monsoon season kicks in. Analysts say that month-on-month there has been some demand recovery in February.
Meanwhile, in past two weeks most of the frontline cement stocks like Ambuja Cements, ACC, UltraTech Cement, Shree Cement and India Cements have rallied more than 10% each on speculation about price hikes in northern India. The benchmark S&P BSE index has gained 4.2% during the same period.
"Prices are up by Rs 30-45 per bag month-on-month in February (over Jan-14 average) across all these markets (North largely Delhi, Rajasthan and Punjab)," the Reuters report suggests.
Among the individual stocks, JK Cement has surged 7% to Rs 203, followed Ramco Cement (6% at Rs 187), JK Lakshmi Cement and Shree Cement (5% each at Rs 87 and Rs 5,040 respectively) and UltraTech Cement and Ambuja Cements (2% each at Rs 1,938 and Rs 173 respectively).
According to market analyst the March to mid-June period is among the peak periods for cement demand before the monsoon season kicks in. Analysts say that month-on-month there has been some demand recovery in February.
Meanwhile, in past two weeks most of the frontline cement stocks like Ambuja Cements, ACC, UltraTech Cement, Shree Cement and India Cements have rallied more than 10% each on speculation about price hikes in northern India. The benchmark S&P BSE index has gained 4.2% during the same period.
"Prices are up by Rs 30-45 per bag month-on-month in February (over Jan-14 average) across all these markets (North largely Delhi, Rajasthan and Punjab)," the Reuters report suggests.
Among the individual stocks, JK Cement has surged 7% to Rs 203, followed Ramco Cement (6% at Rs 187), JK Lakshmi Cement and Shree Cement (5% each at Rs 87 and Rs 5,040 respectively) and UltraTech Cement and Ambuja Cements (2% each at Rs 1,938 and Rs 173 respectively).
