Cement stocks in focus; India Cements hits 2-yr high, soars 33% in 6 days

On May 14, 2020, India Cements announced that Radhakishan S Damani, promoter of D-Mart supermarkets' chain, along with Gopikishan S Damani, has increased the stake in the company to 19.89 per cent

Shares of India Cements have been switftly moving higher ever since the Damani’s family increased their stake in the company by over 15 percentage points in the January-March quarter.

The stock today hit a 2-year high of Rs 134.40, up 6 per cent, on the BSE in an otherwise weak market and was trading at its highest level since May 9, 2018. In the past six trading days, it has rallied 33 per cent, as compared to a 1.4 per cent decline in the S&P BSE Sensex.

On May 14, 2020, India Cements announced that Radhakishan S Damani, promoter of D-Mart supermarkets'