Cement stocks gain after Finance Minister indicated that GST on cement could be reduced

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Cement stocks were trading in the green Due to Good News Come From Govt Side

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on Wednesday, a day after Finance Minister Nirmala Sitharaman indicated that

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The government could consider a reduction in the goods and services tax on cement

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Cement stocks like India Cements (NS: ICMN ) (up 1.99%)

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UltraTech Cement (NS: ULTC ) (up 1.87%)

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Ramco Cements (NS: TRCE )(up 1.53%)

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Nirmala Sitharaman at a session with the members of the Confederation of Indian Industry (CII) in New Delhi

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The existing 28 per cent GST rate on cement, which is a critical input in the construction of everything from houses to bridges

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According to global brokerage Jefferies, a reduction in GST from 28% to 18% would imply a 7-8% cut in customer pricing

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