India Cements Touches Fresh 52-Week High

One of India’s leading cement manufacturer, the India Cements Limited's stock has touched its fresh 52-week high of Rs 221.3 per share on NSE, in the opening hour on Friday.

The stock embarked on an upward rally after the company informed the amalgamation arrangement. The National Company Law Tribunal Division bench, Chennai, has recently approved the scheme of amalgamation and arrangement between Trinetra Cement Limited and Trishul Concrete Products Limited, with the India Cements Limited and their respective shareholders.

The major Cement stocks are trading on a flat to positive note on Friday. The recent study by ICRA shows that the cement prices in the country have rebounded to the pre-demonetisation levels. ICRA also expects prices to be supported by a marginal improvement in capacity utilisation. The cement stocks are likely to be in focus further, due to the recovery in cement prices.

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