Cement manufacturer shares have increased rapidly this week with industry colossus; Ambuja Cements, Ultratech, Shree Cement, ACC, and Grasim Industries rising to 8% on the BSC as the union budget rendered a sharp rise in capital expenditure (CapEx) whack and even although real estate earned only a mention in the “affordable” tranche.
The major drift on infrastructure expending by the Centre in the Budget 2021 comes pace fully for construction essentials such as steel and cement. As per analysts, a higher whack towards capital expenditure aiming at infra, railways, and roads is awaited to offer an appropriate growth momentum to the economy.
Shree Cement set a new record of Rs. 26,500 by up to 8%, trading above its past high of Rs. 25,980 in January.
UltarTect Cement set a record higher of Rs. 6,180 among individual stocks after accumulating 8% on the Bombay Stock Exchange (BSE). The stocks thwarted its previous record of Rs. 5,832 in January 2021.
Grasim and Ambuja Cements industries raised to 7%, ACC was up to 6% and so as Ramco Cements.