Cement trades weak on profit-booking; UltraTech dips 3% post Q3 results

UltraTech Cement said that rising government spending, recovery in the rural economy on a pickup in farm incomes and pre-sales of housing real estate should also help the industry recover.

SI Reporter Mumbai

India’s cement demand is on the path to recovery, but local lockdowns have made it erratic.

Shares of cement companies were trading weak and fell up to 3 per cent on the BSE in Monday’s intra-day trade in an otherwise firm market on profit booking after the sector major UltraTech Cement reported its December quarter (Q3FY23) results. UltraTech Cement and India Cements were down 3 per cent each, Shree Cement, Dalmia Bharat, Ambuja Cements, JK Cement, Ramco Cement and ACC were down in the range of 1 per cent to 2 per cent. In comparison, the S&P BSE Sensex was up 0.68 per cent at 61,036 at 11:13 AM.

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UltraTech Cem.

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First Published: Jan 23 2023 | 11:48 AM IST

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