Binani Cement rallies on doubled Q1 profit

The stock touched a high of Rs 60 and ended at Rs 59, up 4% from the previous close. The counter clocked a volume of 297,154 shares on the BSE today.
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(Updated at 1241 hrs)

Binani Cement has surged over 3% to Rs 58, owing to a jump of 100.19 per cent in net profit.

The stock has touched a high of Rs 59, after opening at Rs 58. Around 190,000 shares have changed hands at the counter, as against its two-week average traded quantity of 177,598 shares.

Binani Cement, part of the Braj Binani group, posted a rise of 100.19 per cent in its net profit for the quarter ended June 30 at Rs 106.70 crore, compared with Rs 53.30 crore in the corresponding quarter last year. The company’s net sales during the period stood at Rs 524.30 crore against Rs 325.99 crore, up 60.83 per cent.