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Shares of cement companies today rose ahead of the February 29 Union Budget amid hopes of an increase in infrastructure spending.
UltraTech Cement stock was up 1.7 per cent, Ambuja Cements gained 0.5 per cent, JK Lakshmi Cement surged 2.3 per cent and Shree Cement jumped 1.3 per cent.
HSBC expects the government to increase infrastructure spending by 29 per cent this year, including for smart cities and low-cost airports
It also cited potential cut in excise duty to 6 per cent from 12.5 per cent.
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