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RPT-BUZZ-Indian cement makers rise as stimulus measures boost demand hopes

(Repeats to widen distribution with no changes to text)

** Shares of ACC Ltd, Shree Cement Ltd, India Cements Ltd and UltraTech Cement Ltd firm 2.3%-3.9%

** India on Monday said it will spend an extra 250 bln rupees ($3.41 bln) on roads, ports and defence projects, and offered 120 bln rupees in interest-free 50-year loans to state govts to spend on infrastructure before March 31, 2021

** “The amount the government set aside for infrastructure development has to be spent before March 31, 2021, this clearly indicates cement consumption will grow faster in coming months,” said Binod Modi, senior research analyst at Reliance Securities

** ULTC shares hit highest since Feb. 20, stock top pct gainer on NSE Nifty 50 Index; ACC climbs to highest since Jan. 31

** Shares of SHCM, ACC and ULTC up 3%-6% YTD, while ICMN has jumped 63%, versus a ~5% dip in Nifty Infra Index and a ~2% fall in the benchmark NSE Nifty 50 Index

$1 = 73.3970 Indian rupees Reporting by Chris Thomas in Bengaluru

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