Realty, cement stocks rise after SC lifts construction ban

Reuters Updated - December 06, 2021 at 09:57 PM.

The Supreme Court on Wednesday lifted the ban on construction activities in Maharashtra and Uttarakhand after the two state governments submitted their respective solid waste management policies to the court.

Realty and cement stocks rose on reports the apex court had lifted construction ban in Maharashtra and Uttarakhand. The Nifty Realty index was up as much as 1.8 per cent.

Real estate stocks such as DLF Ltd and Indiabulls Real Estate Ltd rose as much as 2.3 per cent and 5.4 per cent, respectively

Shares in UltraTech Cement Ltd surged as much as 2.7 per cent — their biggest intra-day percentage gain since August 14; Ambuja Cements Ltd was also up as much as 4.4 per cent.

ACC Ltd posted its biggest intra-day gain in six weeks, rising as much as 3.6 per cent.

The Supreme Court on Friday banned construction activities until October 9 in some States and centrally administered territories that have not framed a solid waste-disposal policy, media reports said.

Published on September 6, 2018 04:55