Cement shares harden on higher demand

BSE 23 May 12 | 12:00 AM

1131.65		1.9 (0.17%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: 500410

Face Value: N.A.

NSE 23 May 12 | 12:00 AM

1130.45		0.25 (0.02%)
Mkt Price (Rs)		Chg Rs (Chg %)

Code: ACC

Performance
1 Week	:	Rs	1,171.80	(-3.43%)
1 Month	:	Rs	1,243.80	(-9.02%)
1 Year	:	Rs	967.60	(16.95%)

Cement shares harden on higher demand

SI Reporter / Mumbai 19 Jan 12 | 10:57 AM

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Shares of cement companies are in limelight on the bourses with frontline stocks – ACC, Ambuja Cements, UltraTech Cement and Jaiprakash Associates gaining more than 3% each.

According to Anand Rathi, demand in January has picked up and has been better than December. Most dealers in India expect prices to firm up during this quarter, led by controlled supply and a pick-up in demand by end-January.

All-India capacity utilization for the cement sector in December ’11 was 79% vs 75% in December ’10 and 71% in November’11. No capacity was added in December ’11 maintaining the installed capacity for the industry at 300m tons.

The research firm expects another 12 million tons to be reported till March ’12 including late reporting of capacities added in 2011.

Among the individual stocks, UltraTech Cement hit a new high, up 4.3% at Rs 1,234 on the Bombay Stock Exchange. ACC and Ambuja Cements are up 4% each at Rs 1,178 and Rs 162 respectively.