Cement cos gain on govt's Rs 6.9 lakh crore road development plan

India Infoline News Service | Mumbai | October 25, 2017 12:30 IST

The government has announced its plan to build 83,677 km of roads over the next five years.

Multiple Silos
Most of the cement companies rose today, riding on the back of the newly announced government plans to spend Rs 6.9 lakh crore for building and expanding the network of roads in the country. The new development is expected to benefit cement companies.

Orient Cement was up by 2.5%, Prism Cement was by nearly 3% and UltraTech Cement was up by 4.3% at around 12:30 AM, while Ambuja Cements, ACC, Shree Cement, India Cements, JK Lakshmi Cement all traded in green during afternoon trading hours.

The government has announced a Rs 6.9 lakh crore plan to build 83,677 km of roads over the next five years, which includes a dozen expressways connecting major Indian cities. The first phase of the Bharatmala project envisages building 28,400 km of roads over the next five years.

Orient Cement Ltd is currently trading at Rs 162.6, up by Rs 4.05 or 2.55% from its previous closing of Rs 158.55 on the BSE. The scrip opened at Rs 160 and has touched a high and low of Rs 164.05 and Rs 158.7 respectively. So far 307544 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3248.69 crore.

Prism Cement Ltd is currently trading at Rs 114, up by Rs 3.05 or 2.75% from its previous closing of Rs 110.95 on the BSE. The scrip opened at Rs 121.5 and has touched a high and low of Rs 121.5 and Rs 112.9 respectively. So far 353061 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 5584.78 crore.

UltraTech Cement Ltd is currently trading at Rs 4414.65, up by Rs 203.45 or 4.83% from its previous closing of Rs 4211.2 on the BSE. The scrip opened at Rs 4210 and has touched a high and low of Rs 4428.75 and Rs 4210 respectively. So far 448433 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 115615.91 crore.

ACC Ltd is currently trading at Rs 1790.75, up by Rs 12.95 or 0.73% from its previous closing of Rs 1777.8 on the BSE. The scrip opened at Rs 1799 and has touched a high and low of Rs 1807.7 and Rs 1787.1 respectively. So far 238260 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 33384.82 crore.





    

***Note: This is a NSE Chart

 

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