Stock Market today, Sept. 4 -- UltraTech Cement, Ambuja Cements, ACC, Shree Cement, among other cement stocks, gained up to 3% during the intraday trade on Thursday following the goods and services tax (GST) reforms.

The GST Council last evening announced a cut in GST taxes for cement. While analysts believe this is a positive for the cement sector, they are still watchful of demand recovery and price improvement, which remains soft in the seasonally weak September quarter.

Unsurprisingly, most cement stocks gave up a majority of their gains and were trading marginally higher in the early afternoon session.

On Wednesday, the GST Council, led by Finance Minister Nirmala Sitharaman, reduced the GST tax rate on cement from 28% to 18%. Thi...