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.

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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