Cement stocks shine, Jaiprakash Associates up over 4 per cent

MUMBAI: Cement stocks today sparkled amid a flat market, led by a rally in Jaiprakash Associates, which rose over 4 per cent, the maximum gain among the Sensex companies.

Cheering the strong sales figure, shares of Jaiprakash Associates zoomed 4.32 per cent to settle at Rs 114.70 on the Bombay Stock Exchange. During the day it jumped to 4.50 per cent to touch an intra-day high of Rs 114.90.

Yesterday, the company had reported a 51 per cent jump in sales for the month of August at 10.85 lakh tonnes.

ACC too climbed 0.81 per cent higher and settled at Rs 894 on the BSE.

"The sector generates huge demand with the start of September-month, as monsoon gets over. Buying is visible in the sector in view of the end of the monsoon and the upcoming festive season," CNI Research CMD Kishore P Ostwal said.

Other cement companies, which ended the session with gains include Shree Cement up 2.27 per cent, Ultratech Cement 1.71 per cent, Ambuja Cement 0.93 per cent, Dalmia Cement 0.76 per cent.

Meanwhile, the BSE-30 share Sensex alos closed the session higher by 32.44 points at 18,238.31.