India's cement stocks gain after crude prices slump
15/06/2026 08:40
BUZZ-India's cement stocks gain after crude prices slump ** India's cement stocks rise as oil prices hit three-month low
** Oil prices fell after U.S. and Iran said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz O/R
** Brent crude futures fell 4.2% to $83.68 a barrel
** Higher crude prices raise fuel, freight, and energy costs, squeezing margins and increasing overall operating costs for cement manufacturers
** UltraTech Cement ULTC.NS up 3.6%, Ambuja cement ABUJ.NS up 2%, Shree Cement SHCM.NS rise 3%
** JK Lakshmi Cement JKLC.NS up 1.9%, ACC ACC.NS rises 1.8%
** Nifty 50 Index .NSEI rises 1.2%
** YTD, ULTC down 2.5%, AMBUJ 22.5% lower; SHCM, JKLC, ACC down 6.3%, 23%, and 22%, respectively
(Reporting by Abhinav Parmar in Bengaluru)
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