Cement shares rally on hopes of GST cut; UltraTech, Ambuja gain 3%

Shares of cement manufacturers were trading higher by up to 3 per cent on the BSE in Wednesday’s intra-day trade after Finance Minister Nirmala Sitharaman on Tuesday said that the government will consider a review of the 28 per cent Goods and Services Tax (GST) levied on cement.

UltraTech Cement, Ambuja Cements, India Cements and HeidelbergCement India were up 3 per cent each. ACC, Dalmia Bharat, Star Cement and JK Cement were up 2 per cent on the BSE. In comparison, the S&P BSE Sensex was up 0.58 per cent at 60,637 at 09:36 AM.

Finance Minister Nirmala