Indian cement companies rise

Byjirong

Updated Tue, 23 Feb 2016 15:00:31 GMT

According to a Reuters report, shares of Indian cement companies have risen ahead of the 29 February Union Budget, amid hopes of an increase in infrastructure spending.

UltraTech Cement rose 1.7%, Ambuja Cements was up 0.5%, JK Lakshmi Cement rose 2.3% and Shree Cement also rose 1.3%.

HSBC expects the government to increase infrastructure spending by 29% in 2016, including for smart cities and low cost airports.