The stock touched a low of Rs 188 on BSE while on NSE it dropped to Rs 187.85. ACC clocked total traded volumes of 9,92,881 shares, whilst on NSE a total of 24,52,744 shares changed hands.
Market analysts are of the view that post-monsoon demand should pick up which will provide a fillip to cement offtake.
Said an analyst, Cement stocks took a beating on the bourses today as cement prices have fallen in the last week. However, post monsoon demand is expected to pick up and since rural demand would be good it will lead to a rise in cement prices.
Said a dealer, The rainfall this year is four per cent above average and with the demand for housing is expected to rise, it will benefit the cement producers. Also interest rates on housing loans have fallen which would further boost the sentiment for housing loans.