The government’s focus on infrastructure spending and affordable housing has led investors to be optimistic about the cement sector in India. The country approaching the peak construction period that falls between January-March along with the ongoing festive season has led multiple cement stocks to rally.
Here are 3 cement stocks that have reached a new 52-week high today:
JK Lakshmi Cement Limited (NS:)
The shares of JK Lakshmi Cement opened at Rs 853 on the last trading day of the week and gained as much as 4 percent to reach a new 52-week high of Rs 887 in the early hours. In the past five days, the stock has zoomed as much as 12 percent. In a month it has gained approximately 25 percent.
The shares of the company have risen from Rs 420 in June this year up to the current levels logging a multibagger return of 102 percent in six months.
JK Lakshmi Cement Limited, part of the JK Organisation, is a manufacturer and supplier of Cement and related products like RMC & AAC Blocks in different states in India. It was the first cement manufacturer in India that introduced colored bags in the country. The company has a capacity of 13.3 Million MT per annum.
Star Cement Limited
The share of the company opened at Rs 118.95 and gained almost 3 percent to reach its new high of Rs 123 in the early hours. In the span of a week, the stock has added approximately 14 percent.
In the past six months, the stock has gained approximately 37 percent. The cement stock reached its All time high of Rs 151 in January 2018. Currently, it is trading a 20 percent discount from those levels.
Star Cement Limited, Part of Century Plyboards (NS:) Group, is the leading cement company in North-Eastern India and one of the fastest-growing cement brands in the West Bengal & Bihar region. The company has an installed capacity of around 5.7 Million MT per annum.
Ambuja Cements Limited
The Adani (NS:) group cement stock inched marginally higher in the early hours and reached a new 52-week high of Rs 598. In the past month, the stock has gained approximately 4 percent.
The stock has rallied the most in the last six months as the Adani group was in the process to acquire the company and has gained approximately 60 percent. In the span of two years, it has delivered a multibagger return of 138 percent.
Ambuja Cements Ltd. (NS:) is among the leading cement companies in India with a presence in 80 countries, and a focus on cement, aggregate, and concrete. The company has a capacity of 31 Million MT per annum.
Written by Anoushka Roy
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