The India Cements Ltd share price is in focus with a second straight session of gains, delivering a 22% surge in just two trading days despite broader market weakness.
On Oct 22, 2026, the stock soared up to 9% to Rs 359 on BSE and traded around Rs 352.9 by afternoon, outperforming the Sensex which fell 0.34%. In two days, the counter jumped from Rs 294.05 to Rs 348.2, with a cumulative 18.42% move.
The rally was backed by exceptional volume. A combined 35.96 million shares – about 11.6% of total equity – changed hands on NSE and BSE, more than 10x the average daily volume. Delivery volume on Oct 21 alone spiked 584% above the 5-day average, indicating strong accumulation.
Two triggers are being cited: a Rs 20.90 crore investment for 3.62% stake in Zenataris Renewable Energy to secure 11 MW hybrid power, disclosed on Oct 15, and Q2 FY27 results where standalone profit rose 160% to Rs 38.85 crore on 16.2% volume growth.
However, fundamentals remain mixed. The stock has a P/E of 83.2x vs peer median of 36.2x, ROE at -0.66% and ROCE at 0.3%. It trades above 5-day and 50-day averages but remains below 100-day and 200-day averages and 34% below its 52-week high of Rs 489.65.
