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Cement stocks continue to perform well as the commodity’s prices have been hiked by Rs 5-15 for a 50-kg bag in the southern States. A 50-kg bag was selling for around Rs 240 in the South. The increase in prices is expected to increase the positive sentiment in cement stocks.

Cement stocks are usually affected by the monsoon as shipments are generally low during the season. However, this time around, sales are up despite the monsoons and expectations are that sales will continue to remain firm, industry analysts tracking the sector said.

The stock of ACC Ltd closed up 9.88 per cent for one month period at Rs 936.20. Gujarat Ambuja Cements grew 6.85 per cent month-on-month at Rs 122.45. Madras Cement rose 1.45 per cent on the BSE on Monday while the stock rose 8.32 per cent month-on-month.

Arushi Sen

More Stories on : Stock Markets | Stocks | Ear to the ground | Cement

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