Sagar Cements surges 8%, nears record high on heavy volumes

Analysts at Emkay Global believe heightened M&A activity (like the recent Sanghi and Kesoram acquisitions) has induced a state of euphoria among small/mid-size cement players

Shares of Sagar Cement hit an over two-year high of Rs 304.65 as they rallied 8 per cent on the BSE in Wednesday's intraday trade, amid heavy volumes, on expectations that capital addition will drive superior volume growth going forward. In the past three trading days, it has surged 20 per cent.

The stock of the cement company was trading at its highest level since October 2021. It had hit a record high of Rs 317 on August 17, 2021.

At 11:18 AM, Sagar Cement was trading 7 per cent higher at Rs 301.60 as compared to 0.5 per cent decline in