Cement shares zoom up to 5%; UltraTech joins Rs 3 trillion market cap-club

Nomura estimates margins to expand on stronger volume growth, pricing discipline and relatively lower fuel cost

Shares of cement makers were in high demand on Wednesday after expectations of a healthy operational performance and foreign brokerage Nomura upgrading its view on the sector.

Among individual stocks, sector leader UltraTech Cement jumped 5 per cent to hit a record high of Rs 10,489 on the BSE in intra-day trade.

The stock finally ended 4.2 per cent higher at Rs 10,445. Nuvoco Vistas Corp, Dalmia Bharat, Ramco Cements, Ambuja Cements and ACC were among other cement stocks that saw gains between 2 per cent and 4.5 per cent on Wednesday, versus 1 per cent rise in the leading