Cement stocks rise as CARE Advisory says cement industry expected to close FY23 with production of 380-390 million ton
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Stocks related to the Cement industry were trading higher, as CARE Advisory Research and Training (CareEdge Research) in its report has said with healthy demand drivers for cement - urban housing, government's infrastructure and rural development thrust, the industry is expected to close FY23 with a production of 380-390 million ton. It mentioned, in FY22, production of cement was at 356 million tonnes, up 20 per cent yoy as compared with 296 million tonnes in FY21 due to the low base effect.
Shree Cement is currently trading at Rs. 23631.45, up by 1135.15 points or 5.05% from its previous closing of Rs. 22496.30 on the BSE.
Ambuja Cements is currently trading at Rs. 406.65, up by 19.20 points or 4.96% from its previous closing of Rs. 387.45 on the BSE.
ACC is currently trading at Rs. 1991.00, up by 86.30 points or 4.53% from its previous closing of Rs. 1904.70 on the BSE.
