Shares of JK Lakshmi Cement climbed 6.22 per cent to Rs 781.70. Birla Corp advanced 4.33 per cent to Rs 945.85. Indian Cements added 3.57 per cent to Rs 200.20.
A total of 26 listed cement stocks were trading higher on BSE by 1.45 pm. UltraTech Cement, Heidelberg and Nuvoco were some other cement stocks, which rose over 1 per cent post the Budget announcements.
Shares of cement makers jumped after the Finance Minister Nirmala Sitharaman announced highest ever capex outlay and also announced increased capex outlay for Pradhan Mantri Awas Yojana.
Shares of JK Lakshmi Cement climbed 6.22 per cent to Rs 781.70. Birla Corp advanced 4.33 per cent to Rs 945.85. Indian Cements added 3.57 per cent to Rs 200.20. The Ramco Cements, Shree Cement, Orient Cement gained up to 3 per cent. UltraTech Cement, Heidelberg and Nuvoco were some other cement stocks, which rose over 1 per cent post the Budget announcements.
This is against 437.11 points, or 0.73 per cent, rise in the BSE benchmark Sensex, which was quoting at 59,987.01. A total of 26 listed cement stocks were trading higher on BSE by 1.45 pm.
The Finance Minister Nirmala increased the FY24 Capex outlay by 33 per cent to Rs 10.5 lakh crore. Analysts said while the government was expected to continue with capex momentum, the 33 per cent jump has come in as a surprise.
Also, the outlay for PM Awas Yojana is being enhanced by 66 per cent to over Rs 79,000 crore.
"The capex is increased by 30 per cent to almost Rs 10 lakh crore. This is 3 per cent of GDP and 3 times of the amount spent in 2019," it said PMS provider Green Portfolio as it expects cement stocks to also benefit from the capex boost.
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