News || India ||2014 || Stocks of top steel and cement companies touched a 52 week high on Friday, driven by the clear majority won by the BJP led NDA that is set form the new government at the Centre. Steel and cement consumption and growth are driven by infrastructure growth which is expected to be a focus area of the new government and has been often talked about by Narendra Modi in his campaigns . The stock price of top cement maker ACC gained over four per cent and touched a 52 week high of Rs 1,455.40 at the Bombay Stock Exchange. Ultratech also touched a yearly high of Rs 2,465. Business confidence has suddenly gone up. We hope that the infrastructure sector will see more expenditure under the new government and growth oriented policies will be formulated, said H M Bangur, Managing Director of Shree Cement and former president of the Cement Manufacturers Association.
Posted on: Fri, 16 May 2014 10:46:35 +0000