What is the reason, India Cements has rallied so sharply in the last few days?

India Cements has rallied sharply every since it was reported that the Damani family had hiked their stake in the company closer to 20%. On 22 May, the stock touched a 2-year high of Rs.134.40 and has now rallied 33% in the last five days. Apart from the Damani factor, volume trends in May also came in are better than expected in the North, Central and East markets. India Cements is seeing demand picking up from rural consumption. Cement companies have also benefited after pet coke prices in the US, Saudi Arabia and India corrected 20% in May.